Digital distribution

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.

As the company considers its mobile strategy, Waleed Sharaf, VP of Information Technology, ICW Group, discusses some of the possible solutions to address the requirements of several customer types.

Company adds commercial products to its online portal for brokers.

Insurer purchases iGO to power the sales process in its preneed and final expense markets.

Enterprise broker management platform designed for scalability to help integrate operations across the insurer's large network.

With life insurance ownership at an all-time low, a top-tier insurer gets creative in an attempt to meet customer desires.

The Insured Retirement Institute (IRI) released new research indicating that during the past year, nearly 30 percent of baby boomers stopped contributing to a retirement plan, and 16 percent prematurely withdrew funds from a retirement plan. The recession and slow recovery are pointed to as the primary barrier preventing baby boomers from adequately saving for retirement.

Novarica Research Council Impact Award Nominee of the Day: Allstate Financial enabled producers and customers to legally bind an electronic signature to a life insurance application via the internet.

Partnership designed to further straight-through processing for Ebix's insurance agent and carrier clients.

Novarica Research Council Impact Award Nominee of the Day: Capitol Insurance Companies enabled 24-hour access to business tools for agents and consolidated its surety business in the process.

Blue Cross and Blue Shield of Kansas City looks to integrate new private marketplace with existing online enrollment and billing solutions.