Core systems

Health insurer Harvard Pilgrim Health Care Inc. will develop a pilot of the Food and Drug Administration's Sentinel System to better monitor the safety of regulated medical products. The one-year contract with four renewable years is worth a total of $72 million.

It’s no secret that the world’s problems in health, education and unemployment can largely be traced to the global fiscal crisis.

In a new user survey, a majority of respondents expect business intelligence (BI) to continuously grow worldwide, though most remain unsure about the value of analyzing data from social media sites. The global survey was conducted by Baseline Consulting and Kognitio, a provider of BI and data warehousing solutions.

Forrester Research recently predicted the technology sector is will see a recovery in 2010. The same could hold true for the property/casualty insurance industry. According to a survey conducted by the Insurance Information Institute (I.I.I.) at its 13th annual Property/Casualty Insurance Joint Industry Forum, 77% of executives in the property/casualty industry expect financial troubles to diminish in 2010.

Microsoft and HP today announced a $250 million technology development partnership and a series of software/hardware/service rollouts that HP CEO Mark Hurd called "the deepest level of collaboration and integration" in his company's history.

Though relatively unfazed by the financial crisis, a continuing soft market will present problems for property/casualty insurers, a new report finds.

After declining 8.2% in 2009, Forrester predicts IT spending in the U.S. will grow a healthy 6.6% in 2010 to $568 billion. Global IT spending, which fell 8.9% in 2009, is expected to rise even further, by 8.1% in 2010 to more than $1.6 billion.

Small insurers are seizing the chance to address consumers’ unmet needs, giving the market segment a sizable share of the overall property/casualty market and strong positions in some specific market niches, according to a new study by Hartford, Conn.-based Conning Research & Consulting.

The ongoing impact of the financial crisis, coupled with the specter of greater governmental oversight, will color the outlook for the life insurance industry in the year ahead, according to New York-based Ernst & Young’s Global Insurance Center 2010 U.S. Outlook.

Business analytics software as a service is expected to grow three times as fast as the total business analytics software market in the 5-year period between 2008 and 2013, according a new study from market researcher IDC.

A.M. Best, Fitch Ratings, Moody’s Investors Service and Standard & Poor's announced ratings updates. The following are some of the most recent:

The latest finger-pointing between American International Group and the rest of the financial world took a turn on Saturday, when AIG’s former chief executive, Maurice "Hank" Greenberg, drew a direct reference to Goldman Sachs’ role in the insurers’ ultimate downfall.

As many variable annuity providers simplify and streamline their products, Axa Equitable Life Insurance Co. in New York is bundling theirs.

Even to those tasked with understanding it, the insurance industry can seem opaque. After in-depth interviews with 43 financial analysts who cover the insurance sector, New York-based PricewaterhouseCoopers finds a widespread dissatisfaction with the current insurance financial reporting framework.

Dice.com, a career Web site for technology professionals and employers, issued its employment report for January 2010. As of Jan. 4, 2010, there were 48,751 jobs available in technology. Of those, 28,142 were full-time, 23,590 were contract, and 1,074 were part-time positions.

Hotels and retailers top Forrester Research’s latest customer experience ranking, Customer Experience Index (CxPi). Insurers, though, rank among the bottom four industries on the list.

WL Ross & Co. (WLR&C) has reportedly ended negotiations with American International Group, New York, to buy its mortgage insurance division, United Guaranty, Greensboro, N.C., according to industry sources.

Fond du Lac, Wis.-based Society Insurance, a provider of commercial insurance to Wisconsin, Illinois, Iowa and Indiana, implemented Denver-based Valen Technologies Inc.’s UnderRight predictive analytics underwriting solution to improve its pricing strategies and profitability. Society is now using UnderRight for its workers’ compensation line of business to positively impact the company’s combined ratio by enabling improved underwriting decision consistency and efficiency.

Genpact Ltd. has been awarded a 3-year contract from Max New York Life Insurance Company Ltd. Under this arrangement, Genpact will provide Max New York Life with customer service related solutions in select geographies, employing multiple regional languages and sophisticated technology.

The insurance industry is offering praise for retiring Senate Banking Committee Chairman Christopher Dodd (D – Conn.), who announced last week he would not seek reelection next year.