Core systems

After rebuilding balance sheets following a costly 2008, P&C insurers hope to not face further financial risks.

Insurers face an uphill battle when it comes to claims management, according to James Swayze, president and CEO of Symbility Solutions, Toronto. Swayze, who presented on the topic at the 2010 PLRB Claims Conference last week in San Antonio, presented results of a JD Power & Associates study that revealed 46% decline in client satisfaction scores for property claims between 2004 and 2008, and a rising claims process cycle time that averages 18.6 days to close.

A new Moody's report says favorable economic and capital market trends signal stability.

Ventana research finds 41% of respondents have a strong desire to improve BI and performance management in the areas of operations, finance and customer management.

A coalition of industry associations is working to scuttle an amendment to financial reform legislation that would strip health insurers of anti-trust protections currently enjoyed under the auspices of the McCarran-Ferguson Act.

To alleviate apparent confusion over storm surge and flooding predictions that were in conflict with the reality of events when a hurricane made landfall, the Saffir-Simpson Hurricane Wind Scale was updated by the National Weather Services’ National Hurricane Center, which is part of the National Oceanic and Atmospheric Administration.

Insurer looks to bring investment capabilities of Sun Life’s Boston-based asset management arm to Canadian retail investors.

Alterra Capital Holdings sees favorable ratings following merger, Farmers Union Mutual Insurance Co. and First Chicago Insurance Co. downgraded.

In testimony on Capitol Hill, industry says the use of credit scores vital for underwriting.

A survey conducted by Munich Re America that targeted insurance executives to determine their most pressing concerns revealed what most in the industry know: the economy still presents a challenge, but less so than last year.

SAP's pending acquisition of Sybase is designed to offer improvements in transactional and analytic applications as well as enhanced mobility, messaging interoperability and content delivery.

Allianz SE, The Hanover and Nationwide all see net income growth over this time last year.

Kognitio’s Data Warehousing-as-a-Service program compares historical and current price points using Quomation technology.

Branded Marketing LLC is trying to combat churn by offering free Chubb insurance policies to users of its prepaid MasterCards.

It apparently will take more than a visit from the Dali Lama to rebuild Conseco’s name and reputation as a stable financial services leader in Medicare supplement, long-term care, life and annuity products.

Beacon Mutual will integrate StoneRiver Power Suite and Underwriting Management System into its BeaConnect site.

Boston-based Liberty Mutual Group is planning an initial public offering for its subsidiary, Liberty Mutual Agency Corporation (LMAC).

AIG's mortgage insurance subsidiary reported Q1 earnings of $73 million —its first quarterly profit in three years.

AIG and Prudential are in talks to revise the composition of the AIA Group Ltd. deal—cutting the $25 billion cash component of the deal by $2 billion.

Aetna, Berkshire Hathaway, Genworth and Wellpoint among the insurers affected by most recent ratings changes.