Core systems

Consumers increasingly want an alternative to cover long-term care costs, according to LIMRA VP.

MetLife noted as top seller of annuities, while Prudential leads variable annuity sales; overall, annuity sales decline markedly.

Organic growth continues for brokers and service providers; nearly all 55 insurers reviewed reported combined ratios below 100 percent.

Majority of workers surveyed plan to put off retirement until after 65, and then find retirement work.

Analysts review the most important issues confronting the insurance technology industry, including pace of change, consumer expectations and the implications of the industry’s reliance on legacy systems.

Deloitte’s “The Voice of the Life Insurance Consumer” study found that 62 percent of non-buyers had not received an unsolicited offer to buy life insurance in the past year compared to 44 percent of buyers. Another 30 percent said their employer does not offer life insurance as a benefit while 46 percent of buyers compared to 66 percent of those currently uninsured said they had not looked for life insurance on their own initiative.

Assurant and QBE defend themselves against allegations of collusion with banks and unethical practices in front of the New York Financial Services Department.

After the U.S. House of Representatives delayed voting on H.R. 5740 an extra day, the proposal passed Thursday with vast support, 402-18. The measure provides a one-month extension for the National Flood Insurance Program, which was set to expire May 31, but will now run through June 30.

Mobile quoting and purchasing capabilities for GEICO policyholders expand.

Partnership with CIC aims to extend Elixir North America’s straight-through processing and enrich agent, policyholder experiences.

New York Superintendent of Financial Services voices support for banning insurers from making excessive payments to banks that refer them business.

Rating, billing and policy admin components to be implemented, support COUNTRY's auto, home and agribusiness lines.

Celent’s “2012 North American Insurance Software Deal Trends” studies revealed a 8.6-percent decrease in deal volume with 62 percent of the 1,538 deals in 2010 and 2011 involving property/casualty insurers compared to 38 percent in the life/health/annuity segment.

A series of solution providers announce enhancements designed to drive efficiencies.

The U.S. House of Representatives is expected to vote on H.R. 5740 today, a measure to push back the NFIP deadline one month, from May 31 to June 30.

The New York Department of Financial Services (DFS) has issued a mandate requiring New York life insurers to search the U.S. Social Security Administration’s Death Master File every three months in order to find beneficiaries of the recently deceased who are unaware they are eligible for benefits.

Insurance Networking News and Celent released INN’s sixth annual technology solution provider ranking for the insurance industry last night at an awards event held at the ACORD LOMA Insurance Systems Forum in Orlando.

System includes pre-loaded business rules engine and builds on CSC’s claims and risk management expertise.

Collaboration will progress with a proof of concept describing areas where ACORD data standards may map to XBRL insurance solvency and other business information taxonomies.

About 68 percent of European life insurers polled in a new survey have a positive outlook for their businesses in spite of ongoing market turbulence.