Core systems

Armonk, N.Y. - IBM has signed an agreement to acquire Language Analysis Systems Inc. (LAS), a privately held company based in Herndon, Va., that develops multicultural name recognition technology. Financial terms were not disclosed.This acquisition furthers IBM's companywide initiative aimed at helping clients address emerging business challenges and better compete in the global economy through access to accurate, reliable and trustworthy information.

Boston - Each year in conjunction with the IASA Annual Educational Conference & Business Show, IASA's Executive Education Program presents two executive roundtable events designed specifically for chief financial officers and chief information officers.In 2006, the CFO and CIO roundtables will take place on Tuesday, June 6, at the Sheraton Copley Place Hotel in Boston, and the programs will focus on helping insurance company financial and technology executives "Navigate a Changing Landscape."

Arlington, Va. - The Casualty Actuarial Society (CAS), ERM Institute International Ltd (ERM-II), and the CAS/SOA Risk Management Section are jointly launching a major research project titled, "ERM Analysis of Property-Casualty Insurance Companies.""We are going to establish a new theoretical foundation for enterprise risk management, with practical guidance for ERM implementation," says Dr. Shaun Wang, executive director of ERM Institute International, and lead researcher for the project.

Geneva, Ill. - Professional liability insurer Insight Insurance Services Inc. has launched an upgraded and redesigned Web site with improved functionality designed to enable independent insurance agents to interact easily and quickly with company and better serve their clients.The new site, at www.insightinsurance.com, includes more tools and features to deliver downloadable forms and applications and facilitate paperless policies. The Web site is structured for easy navigation to Insight's three specific areas of professional liability expertise: architects and engineers, accounting professionals and insurance agents.

Chicago - Most of the insurance industry's discussion post-Hurricane Katrina has focused on the significant rating agency model changes and the compounding effect of catastrophe model changes. But a new study by Aon Re Global tells the investor side of the story."Investors clearly understand the differences between insurers and reinsurers and have set differing tolerances for each," says Stephen Mildenhall, Aon Re Services executive vice president and author of the study. "Our study confirms that investors expect higher earnings and capital volatility from reinsurers than they expect from insurers."

Boston - The National Association of Insurance Commissioners (NAIC) voted unanimously at its quarterly meeting in Orlando, Fla. to establish a task force to examine the impact of climate change on the U.S. insurance industry and on insurance consumers.The task force will look at how a warming climate may affect the availability and affordability of insurance for consumers and the financial health of insurance companies. The task force will also consider actions necessary to enable state regulators and insurers to mitigate and otherwise respond to these problems.

Mountain View, Calif. - Close to 40% of the financial services and banking industry sector suffered the most Trojan attacks, outranking peer industries as the most exposed to probes and enumeration attempts.This is one of the findings of joint research conducted by Counterpane Internet Security Inc., a provider of networked information protection, and MessageLabs, a provider of messaging security and management services.

Branchville, N.J. - Selective Insurance Group Inc. has appointed Richard F. Connell senior executive vice president and chief information officer of Selective Insurance Group, Inc.,and Selective Insurance Company of America.In this position, Connell is responsible for Selective's technology strategy, automation system development and e-business technology, data processing operations, and voice and data communications.

Columbia, S.C. - BlueCross BlueShield of South Carolina won a bronze World Wide Web Health Award for its online precertification, a feature on the company's Web sites that allows hospitals and physicians a quicker, simpler way to obtain authorizations.The World Wide Web Health Awards recognize the best health-related Web sites for consumers and professionals. The Health Information Resource Center (HIRC), a national clearinghouse for consumer health information programs and materials, organizes the program.

Wakefield, Mass. - Darwin Partners Inc., a provider of a range of IT services to Fortune 1000 companies, and Suzsoft Co. Ltd., a China-based provider of outsourced application development, quality assurance, and localization services, have announced plans to merge.Founded in 2001, Suzsoft is privately held and has grown rapidly to become a leading IT outsourcing platform in China specializing in several industry verticals, including financial services, health care, technology, insurance and telecommunications.

Armonk, N.Y. - The IBM Chief Finance Officers Study of 900 senior finance executives worldwide reveals only 14% of insurance respondents rate themselves highly effective in supporting the CEOs efforts to grow the company.The study, developed in co-operation with The Economist Intelligence Unit, finds that at a huge cost to the future competitiveness of companies, almost 50% of executives report finance staff are tied up in transactional activities such as processing accounts and tax transactions, with only a quarter of staff focused on decision support--performance and growth focused activities. Furthermore, respondents state 64% of Insurance finance organizations do not have robust processes and activities in place to support growth.

Boulder, Colo. - Carriers may need to prepare for a storm that has the capability to affect GPS systems and create blackouts. Using a computer model of solar dynamics, scientists at the Boulder, Colo.-based National Center for Atmospheric Research (NCAR) are predicting the next sunspot cycle to be 30% to 50% stronger than the last one and begin as much as a year late. Predicting the sun's cycles accurately, years in advance, will help societies plan for active bouts of solar storms, which can slow satellite orbits, disrupt communications and bring down power systems.

Washington - The National Association of Professional Insurance Agents (PIA), a Washington, D.C.-based national association that represents member insurance agents and their employees who sell and service all kinds of insurance, but specialize in coverage of automobiles, homes and businesses, has reaffirmed its opposition to any proposals that call for a so-called "optional" federal charter for insurers.

Glastonbury, Conn. - Open Solutions Inc., a provider of integrated, enterprisewide data processing technologies for banks and credit unions, today announced that it has completed its acquisition of the Information Services group of New Jersey-based The BISYS Group Inc., a provider of outsourced solutions to investment firms, insurance companies and banks.Open Solutions believes that this transaction will enable it to expand its product offerings, further increase its presence in the financial services marketplace and extend its client base to include the healthcare, insurance and corporate finance industries. Under terms of the completed agreement, Open Solutions purchased the Information Services group for a total cash consideration of approximately $470 million, subject to adjustment.

Brookfield, Wis. - Fiserv Inc. has acquired certain assets of CT Insurance Services and CCH Wall Street, two product lines of Wolters Kluwer Financial Services. The acquisitions, which include Xchange, Securities Registration and Producer Licensing software from CT Insurance Services and the Financial Training product line from CCH Wall Street, will add online application capabilities for insurance licensing and securities registration, along with NASD exam preparation courses to Fiserv's suite of products. Terms of the asset purchase were not disclosed.CT Insurance Services is a provider of enterprisewide systems for insurance licensing and securities registration. The Web-based systems from CT Insurance Services capture data at the origination point, enabling the filer to prepare and submit licensing and registration filings electronically. The Financial Training solutions from CCH Wall Street provide NASD Exam Preparation, including an interactive virtual learning environment, and innovative in-person and self-study solutions.

Denver - InsureMe, an insurance marketing company delivering leads to agents, has unveiled the InsureMe Agent Blog, which is designed to provide industry information to insurance professionals.A Web log, or "blog," is a self-published journal, made accessible to the public via the Internet. Unlike corporate Web sites, blogs are generally less formal and more interactive; the author posts an article and readers can respond with comments and questions.

CONTRACTOR MANAGEMENTBlue Cross and Blue Shield of Florida, a Jacksonville-based health plan provider, has selected Beeline.com Inc. to automate and streamline the company's IT contractor staffing processes. Jacksonville Beach, Fla.-based Beeline automates the life cycle of contractor engagements, including job order creation and distribution, screening, supplier management, time capture, invoicing and reporting.

ON-DEMAND CALL CENTER SERVICEAgents OnDemand is a service designed for three key industry vertical segments-travel, healthcare and financial services-by Working Solutions Inc., a Plano, Texas-based provider of remote agent call center services to Fortune 1000 companies. According to Working Solutions, Agents OnDemand enables contact centers to respond to fluctuating call volumes by leveraging knowledgeable agents when needed.

HUMANA PROVIDES PRESCRIPTION BENEFITS SUMMARYLouisville, Ky.-based Humana Inc. has developed SmartSummary Rx, an in-depth, monthly prescription benefits summary tailored to individual Medicare members. As a companion to the SmartSummary program for commercial members, SmartSummary Rx provides Humana's Medicare enrollees with guidance on cost-savings opportunities, a consolidated prescription claims record and tools can help them budget for future health care and prescription spending.

Ten years have passed since the Web made its debut, threatening to eliminate intermediaries in the insurance sales process. But, after all these years, only a small percentage of insurance consumers actually purchase their policies online.The Internet has evolved, however, and it serves an important role in insurance.