Core systems

Northbrook, Ill. — A unique marketing initiative by Allstate Insurance Co. will expand its Allstate Green electronic payment option initiative to eight states, make good on local green promises and leave its mark as a corporation that cares about the environment.

The transition to the global use of International Financial Reporting Standards (IFRS) may create dramatic change in insurance products, investment strategies, risk management and M&A activities.

The rate of claims may be down, but medical costs and permanent total claims across all industries, regions, and payroll sizes are increasing.

The prospect of an optional federal charter for insurers gets another airing.

Needham, Mass. - In June 2008, the U.S. Securities and Exchange Commission (SEC) released a proposal to reclassify the annuity products referred to as fixed indexed annuities or equity indexed annuities (indexed annuities) as securities. New research from Needham, Mass.-based TowerGroup Inc. finds that this proposal has far-reaching implications for the insurance companies and agents selling the products.

NAPCO EXPANDS USE OF AIR CATASTROPHE MODELS

PATNI RELEASES AUTOMATED FRAMEWORK FOR INSURANCE

Seattle - The shareholders of Safeco Corp. voted overwhelmingly to approve the merger agreement entered into on April 23, 2008 with Liberty Mutual Group. Of those Safeco shareholders who voted, 99.5% voted to approve the transaction. Under the terms of the merger agreement, Liberty Mutual will acquire all outstanding shares of common stock of Safeco for $68.25 per share, in cash. The transaction is not subject to financing contingencies.

Leasing Equipment Answer Capital Preservation

Insurers need to go beyond the traditional definition of innovation and develop a culture in which new ideas are a part of the DNA and touch all sides of the industry, says Aon EVP.

As providers seek to improve patient satisfaction and associated business outlook, many are turning to electronic health records as one way to become more efficient and improve their operations.

According to Novarica research, companies need to look past hype and concentrate on creating business value.

The Center for Health Value Innovation directors gathered to discuss emerging trends and their relevance to health improvement and innovation.

National Indemnity Co. rapidly launches Fiserv’s Advance Billing solution.

Under the new organization, MajescoMastek has formed two divisions focused on meeting the specific needs of insurance carriers.

Congress holds hearing on the regulation of long-term care insurance.

A new study reveals that fewer than 50% of large enterprises rate their tools as “good” in maintaining high performance of applications on their corporate networks.

While insurers’ policy admin systems may have all the functionality they need right now, Celent warns that it might not be able to scale to support their business in the future.

The Japanese carrier is paying approximately $4.7 billion to acquire the Pennsylvania-based commercial property/casualty insurer.

A new report says sovereign wealth funds may target insurers for investment.