Core systems

In a down economy, gold futures are up, and the insurer is betting on a healthy return on its investment.

The insurance industry was at the forefront when mainframe technology began to be used in business some 40 years ago, but we quickly lost that reputation in the years since. In fact, insurance—by nature a risk-averse business sector—has been slower than most to adopt new technologies, and wireless devices are no exception.

Rochelle, Illinois is probably not the first place one would look to find a data center replete with leading edge technology. Yet, it is here in this pastoral hamlet 80 miles west of Chicago that Northbrook, Ill.-based Allstate Insurance Co. has built a new facility that employs a mix of technologies and design elements to markedly reduce energy consumption.

Auto-Owners Insurance Group and Transamerica Life Canada among those rated in A.M. Best’s most recent reports.

Puerto Rico-based property and casualty firm Universal Insurance Co. has contracted with The Insurance Automation Group to develop an enterprise software solution to automate its surety bonding workflow. Insurance Automation Group is the developer of iAutomate: Erlon Surety, a leading surety workflow automation solution for insurance firms.

Supporters of an optional federal charter (OFC) for insurers are taking exception to a New York Times editorial, which charged that an OFC would engender regulatory arbitrage.

Vertafore, a provider of software and services to the insurance industry, today announced that TransactNOW and PL Rating facilitated more than 3.4 million agency-carrier transactions in the first quarter of 2009. The strong first quarter results show that agency-carrier connectivity has reached a critical mass, with more carriers enabling real-time transactions through Vertafore's systems and more agencies taking advantage of this connectivity, the provider says.

The insurer plans to sell $1.25 billion in stock and use the funds to boost capital or repay debt.

ACCENTURE UNVEILS ENHANCED SOLUTIONS

PHILADELPHIA INSURANCE SELECTS ENTRUST AUTHENTICATION PACKAGE

AGENCYPORT AND RISKMETER INTEGRATION PROVIDES INSURERS WITH STP

Commercial messages in our inboxes are a commonly accepted nuisance, but we have lost sight of the danger they represent.

Insurance customers aren't happy with the current level of customer service, preferring to talk to customer service reps rather than use the Web.

MetLife's mortgage business has taken off, and provided additional opportunities for the company to cross-sell its insurance products and services.

Forrester says P&C insurers fair well annually in its rankings due in part to their massive advertising spend.

Life insurers need to redouble efforts to parlay Web searches into meetings with agents.

A tight credit market won’t eliminate deals involving insurance agencies and brokerages.

The health insurer was the top-rated national payer as ranked on overall performance in a survey conducted by athenahealth Inc.

Companies, associations and individuals now have until June 12, 2009, to nominate a woman in the insurance industry who is a true leader, progressing to greater and more diverse positions of influence and authority, and carving a path of excellence for others to follow.

Fast-fingered motorists demonstrate devilish dexterity while driving, but what happens when they check their spelling?