Data and information management

Claims resulting from last week's EF-5 tornado total $85 million in insured losses thus far.

When it comes time to migrate to a newer system, you shouldn’t have to worry about the fate of customer information.

Jon Inquimboy, Product Manager, Esurance, is given 60 seconds to describe how insurance telematics support customer centricity.

Financial modeling continues to grow, though at a slower pace than in 2011, survey finds.

Single-package policy designed to cover potential losses at high-profile events.

Ingenie, an auto insurer targeting young drivers, has selected SAS Office Analytics to analyze large volumes of data on driving behaviors and patterns in an effort to improve customer pricing accuracy and insurance premiums.

Many people have written about the impact of the book "Moneyball: The Art of Winning an Unfair Game" by Michael Lewis not only on the Oakland Athletics, but also on modern businesses across industry boundaries. This book, which was made into a top-grossing film starring Brad Pitt, highlighted the real impact of analytics in shaping the success of a baseball team but it has applications everywhere.

Several forecasts predict four major hurricanes and 10 or more total.

Insurer looks to use analytics for its $3.5 billion investment portfolio.

A relative newcomer to the insurance industry, RGA Reinsurance CIO Mark Showers shares his perspective on how the insurers' concerns compare to other industries.

Although risk management is important among companies concerned with regulatory pressure, few maintain a clearly defined risk appetite and reward adherence to it.

New broad coverage designed to include access to risk control, claims and specialty investigations support.

Aetna provides an example of private cloud operations being more cost-effective and efficient.

Software designed to convert loss run faxes and emails into data.

Returning home from the ACORD-LOMA Forum (ACORD-LOMA) last week, I was reminded of a time about 12 years ago when I wrote that data is the lifeblood of the insurance industry and a strategic asset that needed effective management. The recollection was prompted in part by the fact that during ACORD LOMA the topics of big data, business analytics and business intelligence, and the need for quality data, continued to be hot topics both in terms of insurer priorities and discussion points. The fact that the industry is still buzzing about these topics seems to indicate little progress has been made in the last 12 years. And, to make matter worse, recent research indicates insurers are, on average, using only five to ten percent of their current data.

As the debate over the renewal of the Terrorist Risk Insurance Act (TRIA) heats up in the United States, Aon Risk Solutions released its 10th annual Terrorism and Political Violence Map in an attempt to help companies assess risk levels of political violence and terrorism.

A committee of 11 insurer CIOs has selected nominees for the second-annual Novarica Research Council Impact Awards. Nominees include: AIG, Aegis, Erie Family Life, Great American, Nevada General, PURE, RLI and XL.

Guidewire’s acquisition of the data management and BI provider intended to enable more efficient legacy replacements.

A survey of 1,000 drivers indicates they want more severe coverage penalties for phone use while driving.

Announcement follows releases in Asia and the United Kingdom from earlier this year.