Core systems

In response to a changing market, European insurers continue to adjust product offerings, adapt reinsurance purchasing and alter their distribution channel strategies, according to recent reports.

A prospective deal is expected to include about $5 billion in insurance assets.

Part of the reform measures place limits on the cost of force-placed flood insurance bought by banks.

CoreLogic report finds the number of acres and buildings damaged by wildfires is increasing, even as the total number of fires declines.

Transparency could have many effects, including competitive intelligence and, as a result, aggressive pricing.

With less than three months until 2014 and Congress’ hands full elsewhere, insurers, particularly workers’ comp and commercial casualty insurers, should be devising plans to handle added terrorism risk exposure.

New platform to be implemented for medical malpractice policy administration, rating, quoting, underwriting and policy lifecycle management.

Incorrect information from the Centers for Medicare and Medicaid Services led to the decision, insurer said.

McKinsey’s prediction that the local independent agencies are declining glosses over important distinctions between business models and value propositions, says agency association’s CEO.

During the quarter ended September 30, insurance underwriters announced or completed 20 deals, vs. 35 in the year-ago quarter with no single transaction exceeding $1 billion, according to SNL Financial data.

The services and solution are intended to automate and streamline the insurer’s administrative processes on New York’s exchange.

Third-quarter net income decreased to $232.4 million, or 39 cents a share, from $277 million, or 46 cents, a year earlier.

Underwriters continue to view merger objection claims and regulatory investigations as top concerns.

An influx of alternative capital is driving down property rates, according to Willis Group Holdings; many commercial casualty lines of business likely to experience rate increases.

We live our lives immersed in technology, and over time, we’ve come to think that anyone can do this sort of thing. But IT is hard.

Late next year, the International Association of Insurance Supervisors will implement capital rules for the insurers deemed systemically important, currently including MetLife, Prudential, Axa, AIG and Allianz.

New policy administration system deployed for initial two lines, whole and term life, in a multi-phase process.

Wolters Kluwer’s annual list of compliance issues for both P&C and life/health insurers highlight the difficulty of keeping up with regulatory changes for claims, underwriting and distribution processes.

Insurers are receiving files from the exchanges that they are unable to open, or that are missing too much data to process.

Some medium-sized, publicly-traded insurers are encountering operational challenges and could be sold, restructured or placed into run off, according to MarketScout.