Core systems

Financial services organizations may regret taking a reactive stance to the down economy, since holding back on IT spend restricts improving the very systems that create a competitive edge.

Catastrophes, mortgage/financial guaranties are cited as primary cause, as American Family, State Farm CNA Insurance Cos., lead the industry with the highest ratios.

One of the biggest challenges facing insurers today is updating or migrating their legacy systems to better align themselves with the rapidly changing business landscape.

Elimination of contentious group support clause paves way for enactment of regulations.

A new document shows that a strong balance sheet and operational support are the keys to strong rating.

PCI prefers regulators avoid a one-size-fits-all approach and instead take one that recognizes that few P&C carriers pose a system risk.

As the importance of the Web as a service channel grows, carriers need to recognize the importance of mashups as a business tool.

Deloitte identifies attributes of Gen Y that will help insurers create a customer service model geared toward the growing consumer group.

Treasury secretary gives tacit support of federal charter in congressional testimony, reigniting a contentious debate.

Health insurer is the latest target in dispute over compensation database.

The Treasury Secretary says large insurers should come under federal regulation, as he details Obama administration’s plan to re-write oversight of financial services industry.

Bank hires new president tasked with expanding distribution channel.

It isn’t compensation that drives insurance agent satisfaction with their P&C insurers; it’s the insurers’ primary contact and breadth of product availability, according to J.D. Power and Assoc.

As offerings widen, carriers are continuing to find places throughout the enterprise to employ data-driven technologies.

The push includes giving the agency the authority to provide financial help or even place a company into conservatorship and receivership.

Although the rating itself was left unchanged, citing the drop in insurance operations capital caused by stock market declines, S&P’s Ratings Services downgraded the insurer’s outlook from stable to negative.

A new Gartner study says that, despite the fact that fewer than 10% of surveyed organizations currently run the latest version of their CRM suite, business execs are overwhelmingly eying upgrades.

As AIG recipients agree to return bonuses, attention is shifted to increasing federal governance and regulation.

Results of a RIMS survey highlight the immature nature of the ERM technology market.

The National Association of Insurance Commissioners announces it adopted a proposal to review the use of credit-based insurance scoring, and advocates and critics speak up.