Customer service

Countrywide Financial Corp., now owned by Bank of America Corp., will have to reimburse as many as 17 million victims of the breach free and offer credit monitoring as a result of a settlement that was approved by a U.S. District Court Judge Thomas B. Russell in Kentucky. The Associated Press reports that the settlement calls for Countrywide give the victims, including anyone who obtained a mortgage and anyone who used Countrywide to service a mortgage before July 1, 2008, free credit monitoring and up to $50,000 in reimbursements per instance of identity theft, provided they actually lost something of value, were not reimbursed and can prove the loss more likely than not stemmed from the Countrywide breach.

Boston-based Massachusetts Mutual Life Insurance Company is closing its recently formed MassMutual Retirement Income (MMRI) unit, according to a report in Investment News. The unit was formed in April 2007 to deliver “advisor-focused solutions for customers’ accumulation and guaranteed lifetime income needs.”

Search is now generating thousands of new policies for agents and carriers, making it an indispensable part of their marketing strategy.

Across categories, 66% of claimants who give their carriers high satisfaction scores will renew their policies, but only 49% who give carriers low satisfaction scores plan to renew.

Survey results show younger generation more open to being approached via non-traditional channels.

Despite research indicating that 41% of online insurance consumers are interested in PAYD policies, why hasn't this seemingly innovative and intuitive program been adopted by more states, or backed by regulatory groups?

The few insurers that have released mobile apps have but, eventually, every insurer that has invested in a Web-based channel will be taking full advantage of every mobile device.

A panel of insurance technology experts share tips and tricks for putting innovation into play.

Rollout of service designed to bring ease and efficiency to managing insurance product transactions.

The insurer adds staff to provide marketing and sales assistance, in-language and in-culture financial education programs, training, and other customized support to distribution partners, plan sponsors and ING's regional sales organizations.

Given social media's rise in popularity among older demographic groups, it's now become a serious data security risk for insurers as attackers target their less tech-savvy customers.

Celent says customer portals should behave in the manner customers expect, which requires continued investments to reflect changing customer behavior, and the leveraging of new technologies.

For insurers looking to develop their social media strategy, looking to banks may offer some helpful clues.

Industry technology executives admit that adopting the changes required to innovate is no longer an option: CIO Insurance Summit report.

Regulation and expansion are included among Deloitte's six key topics for which insurance companies will be watching in the coming year.

After its Macon, Ga., office doubled in size in the last 10 years, the insurer has decided to hire 150 employees.

U.S. life carriers need to understand consumer behavior in order to help agents close new business.

Social media is invaluable in helping people find each other, share information, communicate and learn, but it's not without its pitfalls.

Boston-based research and advisory firm, launches a new service dedicated to the Indian financial services space.

Insurance Networking News would like to congratulate the following select number of nominees, whose innovation deserves special recognition. Watch for their stories in upcoming issues of Insurance Networking News and online at www.insurancenetworking.com.