Core systems

Hartford, Conn. - The Hartford Financial Services Group Inc.'s online Quote-to-Issue (QTI) system for rating, quoting and issuing comes in handy with its enhanced Dimensions auto insurance program, which will now be offered as Dimensions with Auto Packages. The Hartford expects online users to get and compare quotes for these packages to be faster and easier than before."We understand the demands on agents and the need for their staff to process business fast and efficiently," says Mike Concannon, senior vice president of personal lines for the Hartford, Conn.-based insurer. "Our QTI technology makes it easy for them to work with The Hartford."

Chicago - Attendees at the International Insurance Society 42nd Annual Seminar in Chicago identified natural catastrophes--over pandemics, geopolitical instabilities, terrorism and man-made catastrophes--as the biggest threat to the future of the insurance industry.The question was posed to the more-than-100 attendees of the July 19, 2006 CEO Panel V: Catastrophic Risk and Insurability: Can the industry cope? Edward Liddy, chairman and CEO of Northbrook, Ill.-based Allstate USA and Pierre Ozendo, head of Americas Property & Casualty, Swiss Reinsurance America Corp. USA, Armonk, N.Y., spoke to the attendees on the subject.

Newark, N.J. - Chronically ill Horizon Blue Cross Blue Shield of New Jersey members and emergency room physicians can now access health histories and records, along with other important information, with a quick scan. The Newark, N.J.-based insurer announced a two-year collaboration with Hackensack, N.J.-based Hackensack University Medical Center, its physicians and the VeriChip Corp., Delray Beach, Fla., to implant FDA-approved microchips in chronically ill patients enabling emergency room physicians to access those patients' medical record electronically. The microchips provide immediate access to family contact information and information about the patients' medical histories.Horizon BCBSNJ will make the new technology, developed by VeriChip, available to select members with chronic conditions. Those members who participate in the program will agree to have an implantable radio frequency identification device (RFID), the size of a grain of rice, placed under their skin.

Chicago - The Windy City will host more than 500 attendees from 55 nations this weekend at the International Insurance Society's 42nd annual seminar.

Needham, Mass. - Recent trends and statistics on how we live, communicate, and work today point to significant changes poised to reshape how U.S. insurance carriers respond in areas such as products, services, and the use of technology. TowerGroup believes that over the next few years, the leading insurance companies will embrace these changes and use their scale, financial strength, and flexibility to maintain a sustainable advantage.

Washington, D.C. - In the first of in a series of government meetings on modernizing insurance regulation, the focus on whether insurers should be given the option of being federally regulated took center stage this week at a U.S. Senate Committee On Banking, Housing, and Urban Affairs hearing on "Insurance Regulation Reform."

Hartford, Conn. - Though Citigroup's recent sale of Travelers Life & Annuity to MetLife may appear to indicate that the "financial supermarket" idea of full-scale mergers is an untenable working model, banks and insurers continue to find ways to integrate their services, according to a new study by Conning Research and Consulting, Inc., Hartford, Conn.

New York and Dayton, Ohio - The competitive online marketplace is being bolstered by two more companies planning to offer consumes an online insurance shopping experience.

Springfield, Mass. - MassMutual Financial Group today unveiled a new addition to its Web site designed to focus on the financial needs of women, enabling them to educate and empower themselves to help build a more secure financial future.

Minneapolis - Allianz Life Insurance Company of North America will integrate detailed insurance data with investment information for USAllianz Securities, a broker dealer subsidiary of Allianz Life. The agreement represents the first time any practice management system will integrate comprehensive financial and insurance information, according to Investigo Corp., the practice management provider that is providing the solution.Investigo CEO Tom Rozman cites results of an investment industry survey that his firm conducted last fall. "Broker dealers are starving for information and must have a way to track the sales of insurance products through their firm."

Oak Park, Ill. - Home page usability of many insurance companies isn't up to snuff. That's according to a study by Vox Inc., a firm focused on increasing retention and referalls by improving the customer experience. The study analyzed the positioning of key customer and user elements, such as insurance quote and "find an agent" functions. Each company was given a rating based on a set of usability and benchmark criteria.One exception to the overall findings is 21st Century, which recently redesigned its home page to improve the positioning and clarity of the various user elements.

Jersey City, N.J. - Catastrophic wildfires cause extensive damage to property and significant disruption to the lives of property owners. In 2005, more than 8.5 million acres burned, nearly twice the 10-year average. This is according to ISO, a provider of products and services that help insurers measure, manage and reduce risk.With more people living closer to brushfire areas, which also happen to be preserves of privacy, the exposure has nearly doubled for insurers between 1970 and 2000.

Washington, D.C. - NASD has introduced a new series of free, on-demand video Webcasts for compliance professionals that's aimed at taking the mystery out of key regulatory processes and making firms' interactions with NASD more productive and efficient.The first installment of the new "What to Expect" series focuses on what firms can expect before, during and after an NASD examination and offers practical tips for making the process go smoothly. While all NASD-registered firms can benefit from viewing this Webcast, "What to Expect: Preparing for an NASD Routine Exam" will be of particular interest to firms on a four-year examination cycle whose examinations are coming up, given significant changes in the regulatory environment in recent years.

Mexico City - When ING Mexico, a provider of insurance, pension benefits and financial services in Mexico, needed a way to enhance customer service by connecting customers to the right agent and at the right time, the company selected an intelligent communications solution from Avaya, a provider of business communications applications, systems and services.With branches located throughout Mexico, ING needed to centralize its customer care operations in order to improve efficiency and customer service. The company established a contact center in Mexico City with 305 employees and 229 agent positions that attend to an average of 220,000 calls each month. Car accident reports, health and life insurance inquiries, pension information and tele-sales are some of the services provided via the contact center in addition to services for ING employees such as IT and HR support.

Cary, N.C. - Reaping business benefits now matches regulatory compliance as the key driver of enterprise risk management (ERM) systems according to a global survey of 339 financial services executives. These benefits include improved performance management, better risk-based pricing, and reduced capital allocation and credit loss. These are the results of research conducted by SAS, a business intelligence provider.A full 83% of participating financial institutions view ERM as a strategic priority, per the survey. Many are setting up new ERM or "integrated compliance" programs. The survey also found that credit risk management is still the top risk management expenditure priority for most firms. In addition, 78% of respondents view credit risk management as critical and anticipate significant, quantifiable economic rewards over the next 24 months, including a 10% reduction in economic capital and a 14% reduction in cost-of-credit losses.

Beverlyy, Mass. - Electric Insurance Co. has named Marc A. Meiches, 53, president and chief executive officer. Meiches succeeds Larry Cohen who has been acting CEO since April 2005.Meiches comes to Electric Insurance from GE Insurance Solutions (GEIS) where he was the executive vice president and CFO. He joined GEIS in 2000 with more than 20 years of financial experience in creating and leading global organizations. GEIS, with more than $10 billion in premium and $50 billion in combined assets, employed 2,500 people in 50 states and 22 countries. The company was recently sold to Swiss Re.

Worcester, Mass. - The Hanover Insurance Group Inc., a regional property and casualty company has introduced a business owner's policy (BOP) class comparison look-up tool. The tool is designed to help The Hanover's agent partners quickly and efficiently categorize a small business owner's industry classification and obtain a quote for the company's Avenues BOP faster than ever."The new BOP class comparison look-up tool will simplify the quoting process for our agent partners, saving them precious time and helping them achieve even greater productivity," says Marita Zuraitis, president of The Hanover's property and casualty companies. "This tool is yet another example of our commitment to continuous improvement and to deliver on our promise to provide world class products and services, while doing whatever it takes to make it easy for agents to successfully conduct business with us."

AGENCY WEB PORTALNew York-based P&C Insurance Systems Inc. introduced a Web portal that allows direct Web-based upload of ACORD data from agency management software. The portal leverages the architecture of the PCIS management system to provide Web-based multi-line rating, real-time agency access to quote documents, and up-to-date agency production reports.

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