Core systems

There’s not enough adequate data from exchanges to confidently submit 2015 ACA pricing plans by the May 31 deadline, according to a Munich Health study.

To stay relevant, insurers must upgrade systems to support multichannel sales, marketing and service requests, direct sales and make use of big data, according to Swiss Re.

Both life/health and property/casualty insurers continue to focus on policy administration system projects and many are opting for hosted solutions.

P&C suite includes policy administration, claim and billing and will be will be hosted by the Accenture Cloud Platform.

New business models will emerge as an important trend defining ways for businesses to monetize new opportunities, the firm says.

Now in its ninth year, the award program has detailed the extraordinary efforts of more than 70 professionals whose leadership has set the standard for the application of technology in the insurance business.

While analytics offer opportunities for increased profitability and effectiveness, 90 percent of insurers live in “data chaos,” and a lack of integration presents major hurdles for insurers.

Requirements will reshape and expand more than half of all global enterprise IT security programs by 2020 due to changes in supported platform and service scale, diversity and function.

Insurer groups this week shared ACA reform ideas with Congress, including the creation of a copper plan.

Murli Buluswar says how you learn is more important than what you know, and that while data science is going to drive enormous changes in the industry, influence is about more than the numbers.

Members of Congress came out swinging Wednesday at a committee hearing with top insurers called as witnesses to determine whom of the more than 8 million Obamacare enrollees have paid their first month’s premium.

As many as 90 percent of WellPoint customers have paid their first premium by its due date; for Aetna, the payment is in the low to mid-80 percent range.

Through use of the app, the insurer expects to enable marketing representatives to view a complete picture of agency performance, and stay current through real-time updates and alerts.

The insurer will revamp five fraud-detection models and extend its relationship with SAS for two more years.

Claim frequency dropped for privately owned vehicles, according to an analysis from Ron Actuarial Intelligence, and can reduce insurance premiums and increases revenues.

Float from insurance units including Geico has provided CEO Warren Buffett with funds to amass the largest equity stakes in companies including Coca-Cola, Wells Fargo and American Express.

Internet connected devices will drive the value of data to consumers; mobile devices will enable continuous data collection; and sensors will drive finer grained collection of data across common processes. Long-term, these will elevate the awareness about the value of data.

Research by McKinsey and the World Economic Forum points to a widening range of technology vulnerabilities and potentially huge losses in value tied to innovation.

How many individuals and families that selected a health plan in the federally facilitated health insurance marketplace have paid their first month’s premium? Depends on whom you ask.

The market for worldwide business intelligence and analytics software totaled $14.4 billion in 2013.