Core systems

While admirers push a bill seeking to nationalize agent licensing, detractors say the legislation is meant only to stymie other efforts.

Insurers perceive quality of service as key to gaining competitive edge, and will make IT management software investments accordingly.

The Los Angeles P&C carrier adds ID theft resolution services to its offerings.

As the industry continues to consolidate, technology will be key to attracting a broader, more ethnically diverse customer base, says the association.

The federal Agency for Healthcare Research and Quality is providing $5 million to fund two studies of best practices for using clinical decision support software.

To appease concerned insurers, the vendor community needs to step up with improved home health monitoring technologies, according to a recent Parks Associates’ report.

A new survey reports that most insurance industry executives feel confident in their ability to manage risks, yet those with excellent S&P ratings are more conservative. Both cite technology as an enabler.

Members of the insurer, vendor and consulting communities last week discussed the keys to forging mutually beneficial, long-term business relationships.

Washington – State and federal regulators, consumer advocacy groups, life insurance companies and those who sell and distribute annuity products recently gathered to address the issues of suitability of annuity sales at a summit. The Bethesda, Md.-based Insurance Marketplace Standards Association (IMSA) convened the summit.

Hillside, N.J. — myClosingSPACE.com, an online title insurance and closing services company, announced it is now available to new homebuyers, mortgage refinancers, attorneys, lenders and Realtors nationwide. The decision was made after the title company successfully test marketed its online business in New Jersey, Florida, Pennsylvania and New York.

Predictive modeling and emerging claims technologies will affect the nonstandard auto insurance market, according to Conning Research & Consulting.

New studies say climate and demographic changes are two of many interrelated risks that insurers must consider.

New York — Gov. Eliot Spitzer, known throughout the insurance industry for his tireless and tough ethics reform as attorney general, announced his resignation, effective Monday, March 17. Quickly following Monday’s revelation of his involvement with a prostitution ring, Spitzer announced this morning that he will relinquish his position to Lt. Gov. David Paterson.

Beijing — The largest life insurer in China, China Life Insurance Company Limited (“China Life”), has selected Germany-based SAP AG’s SAP for Insurance solutions to help the company quickly respond to the changing insurance market and create a stable platform for future growth and evolving business needs. With SAP’s flagship enterprise resource planning (ERP) application, China Life aims to optimize its financial and human resource management processes, provide reliable support for its future operations and apply tools for better strategic decision-making on a unified, efficient and information-based platform.

Insurers are stepping up and out with best practice technology implementation and methodologies.

Charlottesville, Va. — SNL Financial, a sector-focused provider of business intelligence to financial institutions, released to its clients 2007 annual statutory insurance data for early-filing companies. Included with the release is detailed financial data on each filer, data by state and line of business, Schedule P loss triangle data and summary investment data, with hundreds of ratios, snapshots and analytics to facilitate analysis of this robust dataset. SNL also intends to make consolidated insurance group data available in the coming weeks.

New York — Gov. Eliot Spitzer, known throughout the insurance industry for his tireless and tough ethics reform, made a formal statement that clarifies his involvement with a prostitution ring, reported The New York Times today.

Washington – The House of Representatives passed the Paul Wellstone Mental Health and Addiction Equity Act of 2007.

Saint Paul, Minn. – The aviation unit of Travelers Cos. Inc. is using a technology-based approach to introduce a new workers’ compensation insurance program for corporate flight departments.

The insurance industry looks to technology to combat rise in claim severity.