Core systems

The rating agency forecasts a calendar year combined ratio of 99.5 percent for 2013, which would make it the fourth year in the last 35 in which the market achieved an underwriting profit.

A new report from Saugatuck outlines the challenges BI has faced, and where BI operations are likely to settle within enterprises.

Gartner’s Harris-Ferrante, Celent’s Johnston and Novarica’s Josefowicz discussed and debated the changing insurance landscape, and suggested strategies and tactics for insurers.

Yesterday the Consumer Federation of America (CFA) released a statement that suggested a renewal of the Terrorism Risk Insurance Act (TRIA) may not be necessary given the near-record industry surplus of nearly $600 billion. Today, the Insurance Information Institute responded by emphasizing the stability TRIA continues to provide.

IBM says software should enable the insurer to turn social media into an actionable communications channel.

High losses come despite a dramatic decrease in the number of tornadoes last month.

Berkshire Hathaway was listed fifth overall on the 2013 Fortune 500; Berkshire was the top-listed insurer out of the 36 that appeared overall. 11 insurers were landed in the top 100. In 2012, 14 insurers were in the top 100 and 46 were listed among the Fortune 500.

Ninety-eight percent of insurer respondents indicated that they have a woman serving in an executive position within their company, according the new “Women in Insurance Leadership Insight Report.” Yet, there is only one woman CEO at either a Fortune 500 or 1000 insurance company.

Reinsurance administration system to replace the insurer's current legacy system.

Insurer will customize and brand the mobile app while integrating it with their core back-end systems using existing Web services.

Personal lines also sees small increase; commercial property and workers’ compensation lines edged up to 6% increases.

INN developed the ranking in partnership with Celent, an independent business research and advisory service with a specialization in insurance technology. Celent facilitated survey development, data collection and analysis. The result is an insightful set of rankings based on objective peer review.

Eighty-three percent of P&C insurers indicate that they will increase their spending over the next three years. The top three areas for investments in analytics, according to SMA’s data, “remain the risk-centric areas” of product development, underwriting and claims.

New partnership enables 161,000 service members to earn nationally recognized certifications across a dozen tech professions.

As national unemployment improved to 7.5 percent last month, growth of IT jobs has fallen from a peak of 11,700 jobs added in January to only 4,600 added in April, according to this month’s IT jobs report from Janco Associates.

Direct-to-consumer auto insurer implementing underwriting and policy administration software first with renewal processing, then with new business.

Directors & officers liability insurance (D&O) and professional liability business is generating accident year underwriting losses for the industry despite recent stability in loss ratios, according to a new segment analysis from Fitch. D&O premium rates were previously lagging the market recovery in the broader commercial lines segment, but pricing trends are now catching up.

Sandy resulted in approximately 1.5 million claims overall, 92 percent of which were completed at four months.

Investment income dropped to $4.16 billion from $7.11 billion the previous year earlier.

The chairman of Berkshire Hathaway says he wants to get into commercial insurance — "big time."