Core systems

Three-quarters of respondents to a Towers Watson survey of P&C claims leaders cited effective implementation of data and analytics as a challenge.

The joining of two more global technology firms creates another global technology services giant in the financial services space. But why so many? And what does this mean to us in insurance?

The two companies have complementary technology for insurance, payments, risk management, asset solutions, and retail and corporate banking, FIS said.

PartnerConnect consulting partners now are able to deliver cloud-based applications that combine Guidewire products with their own content and services, as well as complementary third-party products in a hosted environment. Inaugural partners include Capgemini, EY and PwC.

Texas Mutual Insurance Company, provider of workers’ comp insurance, has selected Guidewire’s DataHub and InfoCenter to support its enterprise-wide data management and business intelligence strategies, Guidewire said.

Private equity investment firm Thoma Bravo LLC has acquired the provider of cloud-based straight-through processing technology for an undisclosed sum.

Many insurers find that legacy billing technology limits efficiency for internal operations, effectiveness of customer service, the speed to market for new or modified billing features, and can be an obstacle in delivering capability to agents and policyholders.

Xpertdoc, a Microsoft Gold partner, will host the software on the Microsoft Azure cloud platform.

Insurance companies are major consumers of IT outsourcing services, but there are hints that carrier CIOs are rethinking their outsourcing strategies.

New system will run life and disability income products in the Caribbean initially.

SMA research brief identifies must-haves for a successful core systems replacement project.

The insurer will implement the Accenture Life Insurance & Annuity Platform and Actuarial Calculation Engine.

The Chinese e-commerce company and eBaoTech have partnered on an administration platform for insurance companies.

SSP, provider of insurance technology in the UK, and Capgemini, a consulting, technology and outsourcing services company, have partnered to help insurers replace legacy systems and accelerate their digital ambitions, the companies said.

To improve the customer experience, the multiline insurer will use PolicyCenter and Rating Management to integrate disparate underwriting and policy admin systems.

Combining the operations of two insurance giants likely would require months of research, as well as an increase in headcount and IT expenditures, at least in the short term.

New offering includes Majesco Billing, which supports P&C and life and annuity lines of business.

A new Novarica report finds that data, digital channels and changing customer expectations are driving investments in claims processing across the insurance industry.

More than a dozen mergers and acquisitions in the reinsurance market, valued in the billions of dollars, have occurred in the last four months.

The insurer now is in production with rating, quoting, underwriting, policy lifecycle management, document generation/management and program-based underwriting.