Core systems

The survey, entitled “Big Data – Extracting Value from Digital Landfills” consisted of more than 400 responses to an AIIM member survey conducted in March and April. Less than 10 percent reported that it is already an “essential capability” for business and about 15 percent expect that it will be essential. On the flip side, nearly 15 percent reported they weren’t really aware of what big data is yet and about 20 percent were merely more than curious about its potential. As far as data analysis, reporting and BI across structured data sets, only 4 percent are developing advanced analytics and big data tools, while most still opt for spreadsheets and ad hoc reports (30 percent) and reports in individual business systems (29 percent).

Fannie Mae hopes to banish banks from any involvement in the purchase of force-placed insurance under a plan to lower the cost of the product, according to a copy of a request for proposals obtained by American Banker.

While income plunges, balance sheets remain strong due to growth in net premiums earned and increases in net premiums written.

Research reveals the best practices found for teleworking among technology- and insurance-related professions.

A recent report outlines how improving prices and environmental conditions will ease the burden of catastrophe coverage this year.

Justin Kern

Study from Prudential and CFO finds majority of executives are looking to move to employee-choice models for benefits.

Insurance branch aims for quicker product launch and broader distribution channels with software purchase.

U.S. House of Representatives expected to take up legislation next week, when they return from holiday recess.

Consultancy provides a forum for chief risk officers to discuss trending practices and hot-button issues in risk management.

One-third of insurers currently are replacing or plan to replace their policy administration system, according to the recent Novarica Market Navigator reports, which profile 58 property/casualty and 25 life/annuity/health policy administration solutions.

Executives list data initiatives as top priorities, yet rarely recognize IT as leaders in new digital business plans.

While the anticipated FIO report on how to modernize and improve insurance regulations in the United States is, after missing its initial deadline of January 31, still in progress, McRaith delivered testimony last Thursday, but was only made public today, before a House Committee on Financial Services meeting titled, “U.S. Insurance Sector: International Competitiveness and Jobs.” In McRaith’s testimony, he outlines some of the FIO’s activity in lieu of the report, including the addition of four more professionals this month to bring its team up to 15.

Java-based application contains tools to define custom business rules and design payment, collection and delinquency plans.

The annual Contents Claims Index (CCI) by property insurance software and service provider Enservio found that the number of jewelry items claimed grew 57 percent compared to 15 percent growth in the electronics category for the same year. The average price per piece of jewelry claimed increased by 11 percent with jewelry claims more prevalent on the West Coast of the United States.

The Chartered Insurance Operations Professional Institute honors Crawford & Company and Union Mutual of Vermont for outstanding leadership throughout the insurance industry.

New feature provides several different views of a property, enabling virtual assessment during underwriting process.

Financial advisors are so uncomfortable speaking about life insurance that more than half, 56 percent, simply don’t do it, according to a recent survey by consultancy Saybrus Partners Inc. Further, almost one-fifth (18 percent) said they were “uncomfortable” or “very uncomfortable” recommending life insurance policies to their clients. Just a third (34 percent) of the financial advisors surveyed said they were “very comfortable” recommending life insurance to their clients.

According to a new survey, 39 percent of CFOs predict a similar IT operating expense budget in 2012 as in 2010, while 44 percent forecast an increase and 17 percent see a decrease.

MetaScale today announced it is incorporating the Kognitio Analytical Platform as a complement to Hadoop as part of its new SaaS-based offering.