Core systems

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.

Fairfax, Va. — The Public Entity Risk Institute (PERI), a nonprofit research institute focused on risk management, launched an improved Web site designed to ease access to an extensive collection of risk management publications, programs and tools. Among the enhanced features found on the site is an expanded resource library organized by topic, audience and type of resource for more user-friendly research.

Insurers competing for boomer business will need business and technology platforms flexible enough to accommodate different boomer market segments, new types of transactions, new federal and state regulations and competition from multiple fronts.

Novato, Calif. – Michael LaRocco was recently named president and CEO of Fireman’s Fund Insurance Co., a $6 billion property/casualty insurance firm based in Novato, Calif.

Because the invoice is an opportunity to renew contact with a policyholder and demonstrate excellence in customer service, new attention is being paid to the technology behind the opportunity.

San Jose, Calif. — ISCS Inc., a Web-based policy administration solutions provider, opened a new office in Missoula, Mont. in January 2008.

Lexington, Ky. — Kelley Sloane, VP of worldwide marketing for Exstream Software LLC, was honored as one of the OutputLinks Women of Distinction Class of 2008. OutputLinks, a Houston-based information and research resource of the high-volume transaction output (HVTO), industry sponsored the award. Established in 2002, the Women of Distinction award honors the contributions and achievements of the women who help to shape the HVTO industry. Sloane will be recognized along with six other recipients at a luncheon being held during the AIIM/ON DEMAND conferences in Boston, March 3-6, 2008.

Armonk, N.Y. – Touting its energy efficiency, IBM Corp. has unveiled its System z10 mainframe. The Armonk, N.Y.-based company says the z10 was designed to increase data center efficiency by significantly improving performance and reducing power consumption, cooling costs and floor space requirements.

NATIONWIDE FINANCIAL ADVANCES TIME TO MARKET

STUDY GAUGES BACK OFFICE EFFICIENCY

IVANS GIVES PROVIDERS HIGH-SPEED CLAIMS PROCESSING