Core systems

A.M. Best http://www.ambest.com, Fitch Ratings http://reports.fitchratings.com, Moody’s Investors Service http://v3.moodys.com/Pages/default.aspx and Standard & Poor’s (S&P) http://www.standardandpoors.com/home/en/us released ratings updates. The following are some of the most recent:

Insurers seeking to improve operational efficiency using predictive analytics will have new solutions from which to choose, and professional assistance in their implementation, thanks to an enhanced partnership between Dublin-based Accenture and Cary, N.C.-based SAS, announced today.

Christopher Swift, previously vice chairman and CFO at American Life Insurance Co. (ALICO), an operating company of American International Group (AIG) with $89 billion in assets and operations in 54 countries, will join The Hartford Financial Services Group Inc. as EVP and CFO. Effective March 1, Swift, a 27-year insurance industry veteran, will replace Lizabeth Zlatkus, who will assume the chief risk officer role at The Hartford.

Toronto-based Manulife Financial Corp. announced that it has decided to establish separate audit and risk committees that will be populated by board members.

The Risk and Insurance Management Society Inc. (RIMS) says pay-disclosure rules created by the New York Insurance Department are insufficient to protect consumers and urged the department to reopen a period of public comment on the proposal.

Much has changed in the use of standards and technology during the past four years, and the Association for Cooperative Operations Research and Development, (ACORD), Pearl River, N.Y., intends to confirm how those changes are affecting efficiencies in the insurance industry.

Customer satisfaction with the goods and services that Americans buy remained strong in the fourth quarter of 2009, according to the American Customer Satisfaction Index (ACSI), produced by ACSI LLC. The same doesn’t hold true for the property/casualty insurance industry. While the full index, which measures buyer satisfaction of 200 companies in 44 industries and government agencies, is largely unchanged (dipping 0.1%), the P&C industry declined 1.2% to an ACSI score of 80 (on a 100-point scale).

At a time when drivers and their habits—especially in regard to cell phone usage—are under a microscope, The Allstate Foundation released information regarding the behavior and attitude of teenage drivers.

Vendor recognized for document management expertise.

As deadline nears, NFIP extension is dropped from jobs bill.

The mortgage insurance unit of Old Republic International Corp. is asking a court to back its refusal to pay claims on soured mortgages originated by Countrywide Financial Corp.

Forrester report finds insurance providers among top industries in ranking of customer service interactions.

Insurers look to new crop of quality mortgages to offset losses on loans made during the bubble years, but dealing with tougher underwriting standards.

America's Health Insurance Plans and the Blue Cross and Blue Shield Association lead the collaboration.

Celent recognizes carrier’s use of analytics technology to identify cases of fraud that may be abnormal, or too hard to spot with the human eye.

The Independent Insurance Agents & Brokers of New York says it will not “sit back idly and let the department impose an unnecessary rule that will only serve to add another time-consuming and costly requirement for our members.”

The reported -4% composite property/casualty rate decrease points to a prolonged soft market, MarketScout says.

A recent report points to insurers’ need to address policy admin issues in order to reduce costs and remain competitive. But are vendors up to the task?

The new ranking system measures employees’ performance relative to their peers.

Sen. Bob Corker, like Sen. Shelby, opposes letting consumer protections trump safety and soundness, and objects to creating a separate protection agency.