Core systems

The number of insurers looking to increase staff is now at the highest level since July 2009, according to “The Mid-Year Insurance Labor Market Study,” produced by Jacobson Group, an insurance staffing company, and Ward Group, an insurance consultancy. The majority of insurers, 54.5 percent, intend to increase staff this year, compared to 51 percent in January; and the number expecting to increase revenue is 78.4 percent, up from 69 percent for the same period.

Insurance is among the industries found to have significant scanning requirements due to a continued reliance on paper, according to a recent survey.

Announcement of another state review comes days before NAIC's hearing on force-placed insurance slated for Thursday.

Many insurers currently don’t offer self-service Websites to support customers, but that will change by the end of 2013, according to the phase 1 results of iPipline’s “Surveying Customer Servicing in Life Insurance: Insights into carriers’ operational tasks, priorities and technologies.”

Nina, the new customer service virtual assistant from Nuance, is designed to understand what is said and who is saying it.

This month’s MarketScout report cites a stable personal lines market with a composite rate growth of 2 percent for August, while composite commercial P&C rates were also noted as steady at four percent.

Upgrading claims systems is a high priority, ranking among the top three projects for 41 percent of large property/casualty carriers and 23 percent of midsize carriers, according to “Novarica Market Navigator: US Property/Casualty Claims Solutions 2012.” This year, insurers will select between 65 and 75 new systems, compared with 50 to 60 claims systems last year.

Insurers’ recent SEC filings indicate the Consumer Financial Protection Bureau is continuing its investigation into whether mortgage insurers are complying with federal real-estate law.

The technology challenges business models by potentially eroding premiums and profits, but also offers an opportunity for differentiation in a market historically driven by price.

Job numbers in all IT sectors grow as CIOs look to turn temporary positions into openings for full-time IT professionals.

Net income at Allianz rises 23 percent in the second quarter.

At an upcoming FACI meeting, international regulatory rules, including ComFrame, are expected to be the main topic of discussion.

American Safety, CNA, Hartford, MetLife, Prudential and Willis announce second-quarter results.

Underwriting service to link predictive analytics engine to the carrier's day-to-day decision-makers' workflow.

The property/casualty industry is facing a number of potentially transformational forces, including increasing competition, consumerization, the number of communications options for both agents and customers, social networking, and an evolving regulatory environment, according to Gartner’s “Hype Cycle for P&C Insurance, 2012.”

International insurance execs question the IAIS and Financial Stability Board's consideration of criteria for, and oversight of, firms too big to fail.

Mitchell says that, under the terms of the multi-year agreement, GAINSCO will implement WorkCenter Total Loss, developed in conjunction with J.D. Power and Associates, as well as Mitchell's assignment, repairable estimating and reporting solutions.

The agency management system, AMS360, is expected to begin delivering by the end of this year.

‘Insurance Scorecard’ to offer business intelligence, advanced analytics, and single view of policy, claims data.

Independent agency selects cloud-based phone system in an attempt to increase mobility and improve communications, customer service.