Core systems

Enterprise Accounting System and investment solution brought in to support the insurer's regional expansion.

Customer self-service solution purchased in an attempt to provide a better consumer experience, cut operational costs.

Despite rate increases, CAT losses and bodily injury claims weighed on 2012 results.

While the percentage of Americans who believe it is acceptable to increase an insurance claim by a small amount is down 9 percent from a similar survey in 2002, 86 percent know that insurance fraud leads to higher rates for everyone.

Compared to 2012, some insurers reported increases of 30 to 55 percent in applications submitted during the first two months of this year.

In the United States, aggregate deal volume declined 21 percent, however, Q4 activity increased.

Insurer sets production target of January 2014 for major policy administration and claims implementation.

The 23rd annual Retirement Confidence Survey indicates that 28 percent of respondents—the highest level in the survey’s history—are not confident about being able to afford a comfortable retirement.

Contributing to the dramatic rise in popularity are automakers rolling out safety telematics globally, and partnerships between wireless carriers and insurers.

According to a new release from Fitch Ratings, the firm’s compilation of full-year GAAP 2012 financial results for a group of 48 publicly traded reinsurers reveals a 75-percent improvement in operating earnings and operating return on equity of 7.3 percent versus 4.4 percent in 2011.

North American insurers expected to overtake Europeans by 2015 in terms of IT spending.

Growth strategies aimed at baby boomers may be losing their effectiveness among younger consumers, as the population becomes more racially and ethnically diverse, according to “Life-Annuity Consumer Markets Annual,” from Conning. Additionally, generational attitudes toward financial services products and technology are not only different, but evolving.

As the market responds to the Affordable Care Act, group and voluntary benefit insurers must externalize IT architecture, billing and enrollment systems to be successful with and in health insurance exchanges, according to study.

Maryland Automobile Insurance Fund also to use STG Insurance Content Designer and Content Manager tools.

Analytics teams must be based in business and ready for “chaos” as an agile response to the ongoing shift in sources and certainty of business data, according to International Institute for Analytics faculty member Mike Lampa.

National Life Group has selected iGO e-App to automate the marketing, selling and processing of its diversified life and annuity products.

The directors and officers (D&O) liability insurance marketplace is in a state of transition, characterized by a firming market, according to the “2012 Directors and Officers Liability Survey,” conducted by professional services company Towers Watson.

Cyber coverage levels also increased according to the report. Across industries, limits purchased in 2012 averaged $16.8 million, a 20-percent increase over 2011. Communication, media and technology companies led other industries in terms of average limits purchased, at $33.4 million, and the rate of increase, which was nearly 36 percent.

With persistently low interest rates continuing to dampen profitability, group life/annuity/voluntary benefit insurers are investing in benefit and policy administration systems, customer and agent portals, and easy enrollment capabilities to increase profits, according to “Business and Technology Trends: Group Life/Annuities/Voluntary Benefits,” a report from Novarica.

Armed with analytics, insurers should be able to make better business decisions more quickly and mobilize teams to connect better with customers, leading to success and growth, according to PwC.