Core systems

CEOs and other senior executives are increasingly engaged as their companies step up efforts to build digital enterprises.

Aetna has dropped plans to offer health policies through the insurance exchanges in Ohio and its home state of Connecticut, the company revealed last week.

Federal officials now will allow some insurers to wait until 2015 to comply with the consumer protection.

Because CIOs are positioned at the nexus of the information flowing into and out of the company, the rise of big data provides them with a unique opportunity to demonstrate their strategic importance, according to Ernst & Young.

Specialty insurer to consolidate underwriting, policy administration, rating and billing in an attempt to improve scalability and lower expenses.

With inland marine and commercial output lines live, insurer says it will expand its use of the application.

Banks and insurers are to be treated equally when it comes to resolving systemically important financial institutions.

Despite a drop in net income, which was partially caused by faltering underwriting incomes, captives’ surplus grew by $1.39 billion.

Owners of captive insurance companies tightened margins and used capital more efficiently in 2012, according to a new A.M. Best financials report on the industry. Over the longer term, the five-year combined ratio for the captive composite of 92.3 compares extremely favorably with the commercial casualty composite of 103.3.

OneClaim was created, implemented and launched in just 10 months, saving the P&C insurer a projected $108 million in the first year.

Less than half of respondents indicate that their organization has a plan for making use of the health data that’s available to them, according to a survey of CIOs and other C-level executives.

Among the areas to be covered are the historical use of data to solve business problems, data presentation and visualization, avoiding biases and how to structure a research program.

Allianz Life looks to improve its customer service and product development with new core system.

Adoption numbers are up from 18 months ago, and users are reporting up to an hour and a half saved per day, according to a recent survey.

Expectations of extreme activity scaled back slightly, however

The auto insurer is searching for a way to convince more drivers to try its telematics technology.

Celent reports that interest in mobile apps, especially those for tablets, is fueled by the desire to lower front-office costs and facilitate customer interactions.

Over the course of three years, Aegis Insurance, a midsize mutual specialty commercial insurer, completed an overhaul of its legacy core systems. The result is a 50-percent reduction in the average time it takes to process a transaction, a 70-percent improvement in quoting and an 80-percent improvement in renewal processing.

While vendors are optimistic about revenue growth over the next few years, a new report from Aite Group urges them to do a better job of aligning with P&C carrier needs.

Updated models designed to include multiple price volatility catalogs and the ability to modify industry premiums by adjusting default values.