Core systems

A survey by the National Committee for Quality Assurance (NCQA) finds health insurer Cigna’s health plans in healthy shape.

Frank Cowan Co. has selected the RC Inspection software solution from Risk Control Technologies Inc., a provider of loss-control software solutions for insurers, to streamline its loss-control operations. Frank Cowan will equip its team of risk-management inspectors with tablets complete with the RC Inspection application for loss-control management.

The largest insurance company in the Czech Republic, Ceska pojistovna, is using IBM technology to help prevent IT issues and support core business functions, such as claims processing and customer management.

Two groups focused on reigning in costs have established a primary care physician practice in North Carolina. Blue Cross and Blue Shield of North Carolina (BCBSNC) and UNC Health Care announced Carolina Advanced Health to eligible BCBSNC customers last month.

A day after the Insurance Information Institute released figures declaring 2011 the costliest year for P&C insurers covering U.S. cat losses, Munich Re and I.I.I. announced global cat figures.

On Thursday, Massachusetts Mutual Life Insurance Co. filed a lawsuit against J.P. Morgan Securities LLC and four other financial firms claiming that $200 million in residential mortgage-backed securities it purchased through the firms were now "junk."

Looking to round out its core system offerings, Cover-All Technologies Inc. has acquired BlueWave Technology for an undisclosed amount of cash.

Spurred by its $16.2 billion acquisition of American Life Insurance Co., MetLife Inc. moved into the top five while American International Group Inc. (AIG) slid from third to fifth in A.M. Best’s rankings of the top 25 global insurers based on nonbanking assets. UnitedHealth Group and WellPoint Inc., at third and eighth, respectively, were the only U.S.-based insurers to rank in the top ten based on net premiums written.

Online Insurance Marketplace, an online community for educated consumers to shop and access quotes for insurance plans from various companies, has taken its social media efforts to a new level, promoting life insurance on its Facebook page by offering a simple poll question.

The United States set a record in 2011 in its declarations of federal disasters, and insurers are still playing catch-up with claims payouts. In fact, when all is said and done, insurers will have paid more than $32 billion in claims to help people rebuild homes and businesses damaged or destroyed by natural disasters in 2011, according to the Insurance Information Institute (I.I.I.).

A Swampscott, Mass., man was convicted in a Salem Superior Court this week of bilking insurers out of $30K for claims fraud. Owner of two auto repair shops, Robert Giller, 53, plead guilty to 40 counts of fraud, which included 20 counts of filing false insurance claims, 18 counts of felony larceny and two counts of attempted larceny.

The top technologies in use today by P&C insurers today are portal technology, business process management and fraud scoring, according to a new report from Celent. The new study outlines all technologies being used by insurers and lays out their adoption rates.

One week after new data from the Centers for Disease Control and Prevention (CDC) shows that the number of children with insurance increased by 1.2 million since President Obama signed the Children’s Health Insurance Program (CHIP) Reauthorization Act in 2009, more than $296 million was awarded to states for ensuring more children have health coverage.

For Tony Kerrison, the day has long passed when it made sense to question whether cloud computing had a place in financial services companies' IT plans. Kerrison has been one of the industry's cloud computing pioneers: In 2008 he helped create an internal cloud for data center servers at Merrill Lynch (back then it was referred to as "stateless infrastructure"). This year he took the helm of the Enterprise Cloud Leadership Council, a group of corporate technology buyers developing cloud standards for vendors.

Fidelity National Financial Inc. (FNF) agreed to sell an 85 percent interest in its personal lines business to WT Holdings Inc. for approximately $119 million. Under the terms of the definitive agreement, WT Holdings will acquire Fidelity National Insurance Company, Fidelity National Property and Casualty Insurance Company and FNIS Insurance Services. FNF will retain a 15 percent minority ownership position in the personal lines business.

The top business need driving 2012 P&C insurance technology initiatives is growth, according to a survey released today by technology solution provider StoneRiver Inc. The survey queried IT leaders at U.S. P&C insurance carriers, funds and administrators about priorities, IT direction, and status of services and architecture.

New data from Liberty Mutual and Students Against Destructive Decisions (SADD) reveals that teens believe New Year's Eve is the most dangerous time of year to drive, yet it also is the holiday or event when teens most frequently drive under the influence of alcohol or other drugs.

Encinitas, Calif.-based Work Loss Data Institute (WLDI) released its 2012 State Report Cards for Workers’ Comp this week. The report, which is used to track trends and give states a grade and tier ranking based on their performance, now includes data from a 10-year period. Forty-three states are covered, plus Puerto Rico, Guam and the Virgin Islands.

MetLife Inc. took a step closer to exiting the banking business Tuesday by announcing that it is selling the bulk of its deposits to GE Capital Finance Inc.

American International Group Inc. CEO Robert Benmosche reportedly told the company’s directors that he would like to hold on to his position longer than he previously planned, the Wall Street Journal reported on its website.