Core systems

St. Louis, MO--Genelco Software Solutions, a division of Liberty Insurance Services Corporation (LIS), today announced the newly released version 3.0 of its front-office Web portal product, Genelco LifeView. Genelco LifeView 3.0 builds upon its common-sense approach to Web access with innovative improvements to function and design.

Two General Motors Corp. subsidiaries are partnering to create new products for their joint customers.

Although nearly half of the states have passed laws allowing insurance companies to use credit-based insurance scores to assess and price risk-albeit with some restrictions-a new study reveals that the practice disproportionately harms low-income and minority policyholders."There was a tremendous demand to know what happened to low-income folks and protected classes like minorities when you use credit scoring," says Randy McConnell, communications director for the Missouri Department of Insurance (MDI), which conducted the study. "It struck people as disingenuous whenever the credit-scoring vendors were saying, 'There's no relationship between credit scoring and income.'"

As insurers hatch strategies to comply with the Sarbanes-Oxley Act (SOX), a new report suggest that they should view the law "as a catalyst for much-needed and long-delayed business transformation objectives," triggering "long-overdue investments in technology they have been putting off for years."The report, by Needham, Mass.-based TowerGroup, says that Sarbanes-Oxley should not be viewed as a burden but as an opportunity. In the report, "Technology Considerations for Sarbanes-Oxley: A Catalyst for Long Overdue IT Upgrades," Virginia Garcia, TowerGroup analyst, writes that the act "blows the cover off inherent weaknesses in hodgepodge IT architecture typically found in U.S. financial institutions today.

Although lobbyists on Capitol Hill remain optimistic that the asbestos liability malignancy can be resolved through legislation, it appears unlikely that the gaps in current talks toward an alternative dispute resolution mechanism for asbestos claims can be bridged this year.Indeed, even if the considerable differences between the private parties can be resolved, two key barriers remain toward a resolution: There's no sense that asbestos liability is a crisis, and, given the optimism Democrats have for winning the White House this fall, they appear unlikely to allow Republicans to take credit for major legislation that the Senate Republican legislation leadership is already dubbing a "jobs creation" bill.

The Contracts Update section includes announcements of contracts insurance information technology companies have signed with customers in recent weeks. Contract news can be faxed to Insurance Networking magazine at (312) 913-1366 or by electronic mail to Stephen.Dwyer thomsonmedia.comAncora

State Farm unveiled a new financial education Web site that provides fun ways for K-12 students to learn basic principles of financial responsibility and money management. With only a handful of states requiring students to complete a personal finance course before graduating high school, the State Farm "Common Cents" online program can help parents and educators give children the real-life skills they need to become smart consumers, sensible savers and responsible investors, according to the Bloomington, Ill.-based insurance company.

The Consumer Federation of California (CFC), a nonprofit consumer advocacy group, has awarded Fireman's Fund Insurance Co. an A- for its privacy policy, the highest grade assigned to any property and casualty insurer doing business in California.Novato, Calif.-based Fireman's Fund, a provider of homeowner's insurance in the state and commercial insurance to middle market businesses, was among only eight companies to receive an A- or better. Following a survey of 55 financial institutions, the CFC gave two thirds of the companies low or failing grades, including many major property and casualty companies.

Worcester, MA--Kemper Auto and Home's Syracuse office and Blue Cod Technologies, Inc. of Worcester, MA announce the signing of a contract under which Blue Cod will be responsible for providing outsourced application and technical support for Kemper's New York Assigned Risk Automobile business. Blue Cod will host Allenbrook's Phoenix policy processing solution and provide it to Kemper Auto and Home over the Internet. Blue Cod will also build and maintain a number of interfaces to various external applications.

DALLAS--Docucorp International, a leading provider of enterprise information solutions, announced today the availability of Image Resource, an affordable content management and workflow solution, for the managing general agent (MGA) market.

United Farm Family Life Insurance Company, based in Indianapolis, Indiana, has selected Philibert Software Group to develop an illustration system to be used by its sales force. The system will illustrate the company's Millennium Universal Life product in presentations for new sales. It also will be used for reprojecting values and protection scenarios for existing insureds under the re-proposal or in-force portion of the system.

INDIANAPOLIS--Anthem Employee Assistance Program (EAP), Anthem Inc.'s program designed to help companies maintain an emotionally healthy workforce, has made available a new Web site that provides instant access to various online resources and interactive tools to help employees better manage their work and home lives in an effort to improve or maintain their well-being. "An organization's success is dependent upon a physically and emotionally healthy workforce," said Marty Dubin, Psy.D., vice president, Anthem EAP. "The Anthem EAP Web site is completely confidential and provides streamlined access to a wealth of content and self-service capabilities to help provide guidance when facing life's stressful challenges."

The Hartford Steam Boiler Inspection and Insurance Co. (HSB) has launched HSB InstantQuote, an online tool that provides a quick way to quote and bind equipment breakdown coverage in as little as three minutes. A two-minute animated demo of InstantQuote can be viewed at www.hsb.com.HSB InstantQuote is designed to provide new business equipment breakdown quotes for small commercial and middle-market firms with individual location values up to $10 million for manufacturing and $20 million for non-manufacturing.

SOLCORP, a subsidiary of EDS, and Universal Conversion Technologies (UCT), Addison, Texas, will jointly host a Webinar on data migration best practices . This interactive Web-based presentation, "Policy Administration System Consolidation: Overcoming the challenges of data migration" will be presented live over the Web on March 11, 2004 at 2 p.m. EST.Reduction of operating costs is a top priority for life insurance carriers, and many are investigating consolidation of back-office systems, or migration to a new policy administration platform to address this business imperative. With either of these options, however, CIOs face a data migration project that brings with it a host of challenges. In this interactive presentation, experts from SOLCORP and UCT will present a strategy for minimizing the risks and maximizing the benefits, one that's based on a realistic understanding of the degree of complexity involved in data transformation. The presentation will include a step-by-step migration playbook--from calculating return on investment on the front end to improving data quality on the back-end.

Newark, Calif.--Risk Management Solutions (RMS), the world's leading provider of products and services for the management of catastrophe risk, has announced that it is providing funding for the first visiting research fellowship to be established at the new International Centre for Political Violence and Terrorism Research. The Centre is based at the Institute of Defence and Strategic Studies (IDSS) at Nanyang Technological University in Singapore, and was officially inaugurated on February 20 by Wong Kan Seng, Minister of Home Affairs in Singapore.

Conshohocken, PA--eMoney Advisor, a leading provider of holistic wealth planning solutions, today announced the availability of AdvisorPlatform Version 3.5. The new version offers significant upgrades to Version 3.0, which was released in January 2003, including streamlined data entry through the Fact Finder, simulated sales of an asset, "what if" scenarios versus base facts, and additions to the Client Financial Home Page. In addition, the new version includes an updated user interface for greater ease of use.

IVANS Inc., the Greenwich, Conn.-based provider of network and real-time solutions for the insurance industry, has released a study detailing the current state of insurance agent adoption of technology in the United States. The study, which received responses from more than 435 independent agents, revealed that an overwhelming majority of insurance agents (84.3%) prefer to work with insurance carriers that they consider "aggressive" in their use of new technology."The results of this survey are important because they show that recent advances such as real-time agency/company interface and use of broadband technologies have clearly dispelled the concerns from a few years ago about disintermediation of agents when embracing new technologies," says Maggie O'Hara, divisional vice president of offering management for IVANS. "In fact, if anything, these technologies have helped convert agents into huge technology proponents that now hunger for more positive change."

Hyland Software Inc., the developer of OnBase(R) enterprise content management software, has formed a partnership with HealthTek Solutions. HealthTek focuses on providing information technology consulting services to IDNs, community and teaching hospitals, health care payers, physician groups and other healthcare providers. Frank Veale, considered to be a leading expert on document imaging technologies, leads HealthTek's document management practice and will manage the Hyland/HealthTek partnership activities.

ATLANTA--Ebix Inc., a leading international supplier of software and e-commerce solutions to the insurance industry, announced that it has completed its acquisition of LifeLink Corp. Inc., adding hundreds of brokers and approximately 35 life insurance companies as customers.

Vertis Inc., a Baltimore-based provider of targeted advertising, media and marketing services, today announced the results of its Customer Focus 2004: Insurance study, which reveals that some consumer audiences are willing to purchase dental, health and life insurance through resources other than an agent."With both life and dental insurance purchases, Generation X adults (28 - 39) were more willing than the average adult to consider utilizing the Internet, telephone or direct mail to initiate their policies," says Therese Mulvey, vice president, marketing research, at Vertis. "The results of the study show that Generation X adults are 10% more likely than the average adult to purchase life insurance and seven percent more likely to purchase dental insurance through channels other than the insurance agent."