Core systems

Alpharetta, Ga. – ChoicePoint has resumed its acquiring ways by snapping up Optimal Decisions Group (ODG), an Australian firm that develops analytics and software for the insurance industry.

Washington – A recent report by the Government Accountability Office (GAO) suggests that insurers should make a broader swath of claims data available to Federal Emergency Management Agency (FEMA) regulators. The suggestion arises in the wake of questions prompted by Hurricane Katrina concerning the responsibility for damages and later allegations that insurers misrepresented wind damage in claims to the National Flood Insurance Program (NFIP) in order to limit their financial losses after the storm.

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ONLINE MAPPING FOR RISK ASSESSMENT

Peoria Heights, Ill. — Pearl Dental Insurance recently launched a new Web site that provides an immediate, online quote rating engine for insurance brokers and dental plan prospects living in most states.

Hillsdale, N.J. — Despite the ongoing crisis in the real estate industry, MyClosingSPACE.com is making its debut in New York, offering residents across the state the ability to purchase title insurance and mortgage closing services directly online.

Researchers say India is only just beginning to tap its enormous potential, and stands poised to become a giant in the world economy, with its insurance industry playing a part.

Denver – The Colorado House of Representatives defeated H.B. 1143, a proposal to ban the use of credit-based insurance scores. The bill was narrowly voted out of the House Business and Labor Affairs Committee last week by a vote of 6-5.

Hardware-centric HP buys enterprise software provider Exstream in order to push into the variable data publishing arena.

A recently published study from Diamond Management & Technology Consultants Inc. finds that roughly 33% of organizations prematurely terminated at least one business process outsourcing relationship during the past year.

Stamford, Conn. — Towers Perrin is expanding its reinsurance intermediary business to serve the French domestic market.

New York — Fifty-five percent of well-insured adults go online six or more times a week, according to Experian Research Services. As the insurance industry has the highest customer acquisition cost in business today, an online strategy is necessary to attracting these well-insured prospects.

Washington – The House of Representatives passed H.R. 3959, which would gradually phase out some of the subsidies in the National Flood Insurance Program (NFIP).

Kansas City, Mo. — The National Association of Insurance Commissioners (NAIC) named its 2008 committee chairs and vice chairs.

Presenters at Insurance Networking News’ 1st annual Web Services and SOA summit stressed an incremental approach, and an emphasis on communication when undertaking SOA initiatives.

Wellesley, Mass. — The digital world is transforming the way information is organized and stored, and companies across all lines of business are being charged with using emerging technology solutions to support the customer experience in new and innovative ways, according to experts at an e-business thought leadership conference held January 16 and 17 in Wellesley, Mass.

Margin compression and continued pricing erosion is pressuring the insurance industry to achieve top-line objectives in 2008, according to Ernst & Young's Global Insurance Center.

Alexandria, Va. — When 10 Generation X independent agents attending the Independent Insurance Agents & Brokers of America (Big I) Young Agents Leadership Conference in San Diego this past September discussed their future, technology was at the forefront of their success strategies.

A new Web site marketplace offers insurers and brokers a chance to market their voluntary benefits packages to employers and their employees.