Core systems

U.S. life insurers underperformed most industries after taking risks that should have been left to Wall Street banks, McKinsey & Co. said in a report today.

Peak Reinsurance Co., a reinsurer focusing primarily on the Asia-Pacific market, has selected a catastrophe modeling solution from AIR Worldwide to manage its catastrophe risk.

Munich Re, the world’s biggest reinsurer, said profit this year will be about 3 billion euros ($3.9 billion), little changed from 2012, as prices remain stable and lower interest rates weigh on investment income.

Life policy administration solution designed to support underwriting, policy administration and payouts.

With just weeks before launch, MetLife Spain had to completely rethink its stalled customer document creation project.

Net income for P&C insurers increased almost 50 percent in 2012 compared to the year prior, driven by higher earned premiums and slightly-lower, but still high, catastrophe losses, according to a special comment from Moody’s Investor Service. For most insurers, investment income increased modestly and reserve releases were down.

After years of market contraction, all P&C insurance premium lines grew, and agencies and brokers could capture a substantial piece of the market going forward, according to market share study.

For the fourth time, and across every line of business, commercial insurance prices rose in aggregate by almost 7 percent during the fourth quarter of 2012. That was the eighth-consecutive quarter of price increases, according to the latest “Commercial Lines Insurance Pricing Survey (CLIPS)” from Towers Watson.

While IT job growth has slowed a bit, a management consulting firm sees greater demand for mid-level managers and technologists.

Twelve-percent individual life premium growth in the fourth quarter contributed to a 6-percent rise in annualized premium growth in 2012.

However, report says P&C carriers better equipped than others; PCI discounts findings.

Largest annuity insurers also listed, which finds Prudential doubling the direct premiums of the next-closest insurer.

While connectivity improves, conflicting financial priorities and rekeying data is still a problem for many insurers and agents, SMA finds.

The National Association for Insurance Commissioners ranks the sector’s largest insurers and reveals their market shares by line of business.

Claim Components software bought in an effort to enable real-time analytics and improve service for agents, customers.

Ebix to provide SaaS-based policy administration system for front- and back-end processes.

Despite billions spent on marketing, the majority of consumers don't have a retirement savings and income plan.

Commissioned by The Hartford Steam Boiler Inspection and Insurance Co., Ponemon Institute’s survey results show many small businesses have had a data breach, almost all involving electronic records.

Technology alone doesn't deliver insights, but being able to answer four basic questions surrounding your data flow does.

A number of answers received in response to a blog posted a couple weeks ago have kept us thinking.