Core systems

Washington — The National Association of Mutual Insurance Companies (NAMIC) warned of potentially higher insurance rates for Connecticut consumers if the state adopts a ban on the use of credit-based insurance scoring to underwrite motor vehicle insurance premiums. The Legislature is considering a measure to forbid the use of credit ratings among auto insurers.

Cleveland — Cleveland Clinic is collaborating with Google to pilot features and services of a new health offering. The recently announced Google Health electronic system, not yet publicly available, will assist providers by helping patients gain control of their medical records, which stands to benefit health insurers. Customers will have access their own health records online, enabling them to schedule appointments and refill prescriptions as well as interact with multiple physicians and health care service providers on their own—reducing reliance on an insurers’ customer service departments.

Hartford, Conn. – The Property Casualty Insurers Association of America (PCI) is urging Connecticut lawmakers to reject legislation (SB 288) that would prevent consumers from learning about the full range of their auto body repair options, increase repair costs and, ultimately, force motorists to pay higher premiums.

After years of insurers pushing ePrescribing adoption, recent survey results show physicians may be more amenable to the idea.

Proponents and opponents of a federal charter exchange barbs over its implications for regulation and revenue.

New York — The latest study from New York-based Simon-Kucher & Partners, "Managerial Perspectives: Time for a Change! How Insurers Waste Profits due to Lack of Market Excellence," questioned 1,500 insurance executives in the United States about the management perspectives considered to be most important as well as those most frequently used in the industry.

Oakland – California Insurance Commissioner Steve Poizner reached a $10,050,000 settlement with Allianz Life Insurance Co. for allegedly targeting thousands of seniors in deceptive annuity sales. Allianz, the largest seller of annuities in California, purportedly deceived elderly victims into purchasing confusing annuity products that were financially unsuitable for their needs. In addition to the sizable monetary settlement, Commissioner Poizner announced that Allianz agreed to implement a groundbreaking suitability review process to further protect seniors.

Studying the competition and creating a better policyholder experience will go a long way toward building customer loyalty.

Washington — American consumers want more from their health care system than they're currently getting—greater online connection to health care providers and medical records, customized insurance coverage and wider access to emerging innovations such as retail clinics, a new survey from Deloitte Development LLC reveals.

Kansas City , Mo. - The National Association of Insurance Commissioners (NAIC) this week released a peer review of state producer-licensing laws, practices and processes that identifies areas where the states’ reciprocity and uniformity initiatives need improvement, along with areas where such efforts have been successful.

Surveys of CEOs reveal attitudes and expectations of technology.

London - Reed Elsevier PLC, a London-based publisher and parent of the LexisNexis information service, will spend $3.6 billion cash for ChoicePoint Inc., a 1997 offshoot of Equifax, the companies report. The acquisition is subject to ChoicePoint shareholder and regulatory approval, is expected to close in the summer of 2008.

In a pair of studies, Celent queries CTOs and CIOs from America and Europe, respectively, to gauge IT spending priorities for the coming year.

Ronald Katz, the well-known telecom technology inventor, is calling the shots with several large insurers—but for how long?

Madison, Wis. — American Family Insurance has restructured its information services division, the company reports. The move comes as a result of a study of technology leadership organizations at Fortune 500 firms, a company spokesperson said, and reflects a growing trend in Tier 1 insurance companies—restructuring of IT with the goal of optimizing business strategies and operational performance.

Washington – Testifying before a hearing of the House Committee on Financial Services Subcommittee on Oversight and Investigation, a representative of the Independent Insurance Agents & Brokers of America (IIABA) pushed for the passage of the Homeowners' Defense Act.

Poughkeepsie, N.Y. — The 2008 Global Outsourcing 100, the annual ranking of the world’s best outsourcing service providers, was released by the International Association of Outsourcing Professionals (IAOP), Poughkeepsie, N.Y.

London – Instability within the financial markets represent the biggest threat to the global insurance industry, according to a survey conducted last month by Lloyd’s of London. The survey asked 138 Lloyd’s underwriters to answer questions about working in the Lloyd’s environment, including the identification of those emerging risks that will most likely challenge the insurance industry over the coming year.

Mayfield Village, Ohio — Progressive appears to take its name seriously. Adding yet another patent to its business innovation cache, the Ohio auto insurance company is using a unique claims processing method to take responsibility for its policyholders entire vehicle claims/repair process following a crash.

Pittsburgh — Computerworld magazine selected Pittsburgh-based Highmark Inc. as the top green-Information Technology Company for 2008 and WellPoint Inc., Indianapolis, came in at No. 12 on the list.