Core systems

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.

Overall, spending barely increases; CIOs lack confidence in budget plans.

For many adults in the United Kingdom, insurance is a “grudge purchase” – bought to insure against the possibility of something unfortunate happening – and the value test is the customer experience at claim time, according to “The Reality and Opportunities in Claims Management: Consumer Experiences in the United Kingdom,” a new report from Celent.

The research firm cut back its expected increase in overall enterprise application spending for this year to 4.5 percent, down half a percentage point from its outlook for the year in Q1 2012. That near-term reduction still amounts to $120.4 billion spent in the business software and solutions marketplace, up from 2011’s total of $115.2 billion in 2011, Gartner stated.

Enterprise content management firm to partner with Volly for the integration of its Digital Mail Gateway software.

A pair of new reports assess the top social media presences within the insurance industry and provide metrics and tactics to effectively harness your social networks.

Survey conducted at America’s Health Insurance Plans Institute 2012 reveals health insurance executives’ opinions on reform, increasing health care costs and the Patient Protection and Affordable Care Act.

The United States Senate passed the Senate 2012 Farm Bill in a 64-35 vote. The Senate version of the bill would cost $498 billion, save $23.6 billion over the next 10 years and eliminate $5 billion per year in direct payments. The Federal Crop Insurance Program (FCIP) would become the primary risk management tool for farmers.

SAP report shows companies with mature best practices double operating margins and triple revenue growth.

Winning papers to be published in a special edition of The Geneva Papers on Risk and Insurance Issues and Practices.

In response to concerns raised about land-use restrictions and insurance mandates, the Senate and Banking Committee agree to scale back requirements.