Core systems

Deal is an acknowledgement by risk management solutions provider of critical emergent risk factor: climate change.

Wakefield, Mass. — Panviva, a provider of Business Process Guidance (BPG) systems for the health insurance industry, announced the opening of a U.S. office in Wakefield, Mass., just outside of Boston. There, the company will offer support for its health insurance customer base.

Stamford, Conn. – IVANS, a provider of corporate connectivity solutions and services, worked with personal lines P&C giant Progressive Insurance to implement agent-enabled single sign-on technology through IVANS Transformation Station that makes it easier for agents to quote and service their policies, and streamline their workflow. Once Progressive’s agents update their real-time account via their agency management system, and register at Progressive’s Web site, ForAgentsOnly.com (FAO), they will no longer have to enter their user ID and password when bridging over to the FAO website. By utilizing this technology, Progressive now updates the agents’ credentials within Transformation Station on the agent’s behalf. As a result, any time the agent changes his password on Progressive’s FAO website, Transformation Station is automatically updated, thereby enabling a secure, single sign-on to both Transformation Station and the FAO website, and faster access to their policy data.

New York – MajescoMastek, the subsidiary of global technology solutions provider Mastek, reports that the STG Insurance Suite, in its ready-to-deploy application service provider (ASP) model, has gone live for The Responsive Auto Insurance Co., Fort Lauderdale, and will facilitate processing of the carrier’s personal auto business in the state of Florida.

Minneapolis – Under a new presidential administration, successful financial services and insurance organizations will be those that are not only able to adjust to a changing regulatory landscape, but ones that can also demonstrate they are embracing the letter and the spirit of the law. So say experts at Wolters Kluwer Financial Services, a provider of compliance and operational risk management solutions to financial organizations.

New York — The environment is an ever growing topic of public discussion and businesses are increasingly influenced by potential threats to climate change. However, the potential and sustainability of Green Insurance products and services has not yet been fully examined or determined.

Philadelphia –The legislation and regulations governing the insurance and reinsurance industries that appear directly tied to the financial crisis are causing discussion both in the mainstream press and in smaller markets hoping to involve themselves to a positive end.A story in this morning’s Washington Post described moves by insurance companies to buy savings and loans to get a piece of the $700 bailout pie. Lincoln Financial Group, Genworth Financial and The Hartford Financial Services Group are among several carriers that have recently announced plans to qualify for the government’s $700 rescue funds by purchasing a thrift.

New York - The Risk and Insurance Management Society (RIMS) and LogicManager today released RIMS State of ERM Report 2008. The report substantiates the value of ERM for organizations of all types. It also indicates that companies that have greater risk management and ERM maturity levels enjoy higher credit ratings.

Chicago – The Property Casualty Insurers Association of America (PCI) joined insurance and salvage industry representatives at a meeting last week with the Department of Justice and the American Association of Motor Vehicle Administrators (AAMVA) to discuss proposals regarding insurer and salvage yard reporting of total loss data to the National Motor Vehicle Title Information System (NMVTIS).

Scrutinizing complex claims that carry liability for the physician, health insurers are halting reimbursement for clinical fixes to medical mistakes, says Insure.com.

Washington — In Congressional testimony today, New York Insurance Superintendent Eric Dinallo edged away from plans to regulate part of the credit default swap market.

In a third annual survey, policy administration projects remain the top insurer priority.

Indianapolis - The Indiana Health Information Exchange has launched its Quality Health First disease management and preventive health services notification program.

Washington - A request to establish a process that might reject certain disclosures in mutual insurers’ financial statements was in effect denied Tuesday afternoon by the NAIC’s Statutory Accounting Principles and NAIC/AICPA Working Groups, reports the National Association of Mutual Insurance Companies (NAMIC).

Chicago — In testimony before the House Committee on Financial Services, Cameron Findlay, executive VP and general counsel of Aon Corp., urged the U.S. Department of Treasury to acquire the hundreds of billions of dollars of illiquid assets that reside on the ledgers of 's financial institutions.

Albany , N.Y. — The New York State Insurance Department is readying a review of financial stress testing and scenario analyses of insurers in the state.

Glenmont, N.Y. – The nearly 100 independent insurance agents and company representatives who attended last week’s 2008 CEO Conference, “Challenges for our future: New Talent and New Technology” in Albany last week did so with hope and opportunity in mind.

EbixExchange and SIGNiX, both Web-based technology providers, have partnered to enable brokerage firms to fully automate processing of annuities.

Privy to a variety of educational sessions, technology showcases and business analytics, rating and underwriting product launches, attendees at ISO’s annual conference were told that “winners will have ERM in all parts of their business.”

Hartford Financial Services, Genworth Financial, Lincoln National and Aegon NV are acquiring banks or thrifts to be eligible to receive capital injections under the Treasury Department's Capital Purchase Program.