Data security

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

INN developed the ranking in partnership with Celent, an independent business research and advisory service with a specialization in insurance technology. Celent facilitated survey development, data collection and analysis. The result is an insightful set of rankings based on objective peer review.

Eighty-three percent of P&C insurers indicate that they will increase their spending over the next three years. The top three areas for investments in analytics, according to SMA’s data, “remain the risk-centric areas” of product development, underwriting and claims.

State Farm is beginning to test RightLane, which collects basic information about a person's driving via an Android smartphone.

Sandy resulted in approximately 1.5 million claims overall, 92 percent of which were completed at four months.

2013 Terrorism Risk Insurance Report outlines current marketplace as well as potential effects of letting the coverage expire.

New version includes portfolio management capabilities and transactional model deployment for risk selection and pricing accuracy.

Mobile platform developed as a companion to Web-based risk software released by the insurer last year.

Adventist Risk Management looks to improve operational efficiencies, customer experience through the purchase.

At RIMS, intellectual, intangible and other non-standard property coverage are top of mind.

Service to address uncertainty in real-time data reporting by incorporating catastrophe-loss scenarios.

New analytics-based software designed to weigh factors of individual companies, such as location of operations and cost-severity factors, against historical data.

As part of the additions made, travel risk coverage has been expanded to the renewable energy industry.

While risk managers are increasingly prepared for a variety of risks, gaps exist between process and action, according to a Towers Watson survey.

Claims for business interruption will probably drive insurance costs tied to the bombings, according to catastrophe modeler Risk Management Solutions Inc.

Slightly more than half of respondents account for risk in their current compensation arrangements, according to a new Towers Watson survey, which is making some execs unhappy.

SAS Risk Management for Insurance brought in by insurers to support Solvency II compliance.

Additions to Technology Advantage designed to help agents navigate interfaces and technology companies protect against risk.

Configurable app blocks network connectivity; separate “What If Calculator” demonstrates the impact of tickets, accidents, moving and changing vehicles on insurance rates.

U.S. commercial lines insurance underwriting performance also improved moderately last year, according to Fitch’s review of initial industry financial results for 2012, indicating that a market turn is taking hold, citing a second year of material premium growth and signs that loss ratios reached a cyclical peak in 2011 as indicators.