Digital distribution

Accenture's life insurance software platform will be employed to help manage 100,000 life insurance policies.

Gartner cautions that social, mobile, cloud and information are driving new and different business scenarios that insurers ignore at their own peril.

New York Life announced today that John O’Gara and Richard Simonetti have each been elected SVPs in the company’s Agency Department, reporting to EVP and Head of Agency Mark Pfaff.

Gudvangen will be responsible for managing policyholder service delivery, including policyholder benefits and claims. She will also oversee administration of the closed block of business, and will lead the development of a new team focused on operations actuarial and tax. Gudvangen will report to the SVP of Enterprise Operations, Jasmine Jirele.

Mobile capabilities enhanced as well as industry-specific updates, which are designed to accommodate companies under regulatory pressure.

Continuing its strategy for expansion, Marsh & McLennan Agency LLC (MMA), a subsidiary of insurance broker Marsh Inc., today announced the acquisition of Brower Insurance Agency, one of the largest independent agencies in Ohio. Terms of the transaction were not disclosed.

An E&S industry initiative is pushing for improved processes by way of automation—with which both agents and carriers win.

Ward Group recommends statistical evaluation of distributors, as well as increasing collaboration and communication regarding goals and risk appetite.

However, uncertainty surrounds ultimate size and shape of the market, as well as its effect on traditional auto insurance, according to SMA study.

With boomers growing older and new demographics taking center stage, how much longer will agents and advisors be the preferred source of information for customers?

Mobility has quickly become the most expansive, accommodating and transformational technology in the insurance industry. Just take a look at some of the bold claims circulating recently, including the title of a recent report, "The Future of Insurance is Mobility," from Forrester Research.

As both a practice and a set of technologies, distribution management is evolving as insurers endeavor to use their data to increase organic growth and profitability, as well as to push data out to agents, producers and consumers to improve customer service through increased efficiency and self-sufficiency.

To Improve Operating Ratios, Insurers Must Improve Risk Selection, Pricing and Processes For More Predictable Returns.

While there are many advantages to moving to a digital environment, insurers are finding that to be successful, a big-picture, stepped approach is required to address compliance issues.

GEICO has announced iPad application updates designed to make it easier for customers to conduct business and learn about their policies.

American pre-retirees are not taking retirement planning seriously, according to a LIMRA study. Twenty-five percent of the 33 million U.S. pre-retirees, surveyed, said they felt “very prepared” for retirement, down from 30 percent of those surveyed in 2010.

Of the myriad technologies that engage and empower the distribution network, it’s strategic, not transactional, management efforts that win the day.

Michael Babikian has been promoted to president and CEO of Transamerica Brokerage, a distribution unit of the Life & Protection division of Transamerica. Previously Babikian was EVP, chief marketing officer, brokerage, and chief product officer. Babikian replaces Marty Flewellen, who was promoted to chief distribution officer.

Per unit costs for life insurers drop dramatically, as do errors and the business-cycle time.

40 percent of mid-sized and 10 percent of large P&C insurers are implementing or planning such projects, and many challenges are foreseeable, Deloitte research says.