Core systems

With wide-spread use just around the corner, hundreds of IT and business professionals nearly unanimously affirm the effectiveness of BI.

Don’t let appearances fool you; North American and International reinsurance rate increases are due to modest losses and poor results, not a hardening market, according to Willis Re chairman.

The property/casualty industry experienced rising financial impairment trends in 2011, with impaired companies still emerging well into 2012 and driving figures well-beyond industry averages. 2011’s 34 P&C impairments represented a significant jump from the 28 reported for the year by A.M. Best on Jan. 23, 2012.

Victims of wildfires that have claimed hundreds of houses and almost 30 miles of land prompt are flooding insurers with hundreds of claims.

U.K. general insurer goes to Guidewire for underwriting, policy administration and claims software.

Industry associations applaud the long-term reauthorization of the National Flood Insurance Program as part of a compromise deal that included the surface transportation reauthorization and student loan bill.

RIMS benchmark survey also finds property insurance coverage leads increase.

In a recent survey, European and global non-life insurers are found frustrated with the inflexibility of their portals.

Second-quarter 2012 renewal rates have increased by 1.4 percent compared with the second quarter of 2011, according to Marsh.

Public, private cloud resources designed to improve effectiveness of system engineering and professional service teams.

Despite cash on hand, slow growth and regulatory pressures prompt concentration on operational efficiencies and regulatory readiness, according to KPMG Survey.

The ruling this morning gave health insurers a deadline of 2014 for embracing such provisions. On the other hand, competitively speaking, this places much more of a burden on large health insurers to provide a wide range of packages that appeal to demographics that may not have been on the radar.

Reporting functionality, recommendation management and workflow management tools are just three of the elements Novarica says are critical to loss control systems.

Elephant Insurance, a consumer-direct auto-insurance writer, has selected Guidewire PolicyCenter as its new rating, underwriting and policy administration management system.

The court ruled 5-4. However, the court added that Congress has the authority to implement the individual mandate under the taxing clauses of the Constitution.

GlobalOptions will prepare AIC’s fraud compliance reporting, conduct fraud training programs as well as the investigation and identification of suspected fraudulent insurance activities.

The U.S. property/casualty industry is increasingly profitable, with a Q1 net income of $10.1 billion, compared with $7.8 billion for the same quarter last year; profitability as measured by the cumulative annualized rate of return on average policyholders’ surplus increased to 7.2 percent from 5.6 percent for the same quarter last year, according to the Insurance Services Office (ISO), and the Property Casualty Insurers Association of America (PCI), which released its quarterly profits and profitability report.

Company also opens new regional underwriting offices in Atlanta, Chicago and Dallas.

Robert Hartwig, president and economist of the Insurance Information Institute, outlines four necessary criteria for a hard market, one marked by sharply rising rates in excess of 10 to 15 percent.

J.D. Power found particularly sharp increases in customer satisfaction with policy offerings and interactions with insurers.