Digital distribution

To counter stagnant growth, distribution channels and technologies need to be examined anew, says research firm.

Shifts in customer behavior, distribution patterns and preferences could provide significant growth opportunities for insurers prepared to embrace and leverage these emerging changes.

Finally, there is evidence that insurers are employing real-time activity, and the beneficiaries aren't just agents.

Because the invoice is an opportunity to renew contact with a policyholder and demonstrate excellence in customer service, new attention is being paid to the technology behind the opportunity.

Lexington, Ky. — Kelley Sloane, VP of worldwide marketing for Exstream Software LLC, was honored as one of the OutputLinks Women of Distinction Class of 2008. OutputLinks, a Houston-based information and research resource of the high-volume transaction output (HVTO), industry sponsored the award. Established in 2002, the Women of Distinction award honors the contributions and achievements of the women who help to shape the HVTO industry. Sloane will be recognized along with six other recipients at a luncheon being held during the AIIM/ON DEMAND conferences in Boston, March 3-6, 2008.

Madison, Wis. — MemberCONNECT, CUNA Mutual Group's analytical approach to relationship building, provides credit unions with a direct marketing solution for auto and homeowners insurance. While the channel provides a tool for building member relationships on its own, it also is a complementary tool for credit unions with strong agency relationships.

Foresight, and a focus on usability, will help those converting to straight-through processing reap dividends from the process.

New York — Two New York-based companies are partnering in their support of FUTURITY FIRST, a life insurance distribution organization that will be headquartered in Hartford, Conn.

Waltham, Mass. — Ipanema Technologies, a France-based provider of application traffic management systems for wide area networks, was recognized in the Deloitte Technology Fast 50 for France and the Fast 500 for EMEA (Europe, Middle East and Africa).

Chicago — Tri-City Brokerage, a division of Crump Insurance Services Inc., a Dallas-based insurance wholesaler, announced an expansion of their binding authority group, Tri-City Binding Authorities. The new financial services binding authority provides D&O, E&O, EPLI, Crime and Fiduciary coverage for numerous classes. Target industries include community associations, nonprofit organizations and for-profit companies, miscellaneous service providers, property managers and technology service companies.

Cincinnati - With some 76 million baby boomers moving into retirement, the life and annuities industry is poised to grow at an exponential rate. Transforming labor-intensive paper processes into electronic ones is imperative to successfully serving this rapidly expanding market.

Frisco, Texas - Skywire Software has addressed a common, yet growing need in the insurance product development arena. The Frisco, Texas provider of software and services for the insurance industry released Launcher, an application designed to improve, coordinate and measure the process of getting new insurance products to market.

Atlanta - SunGard Data Systems Inc., Wayne, Pa., has acquired DSPA Software Inc., a Mississauga, Ontario-based supplier of sales compensation and distribution management software to the insurance industry. DSPA Software will become part of SunGard's insurance business.

Accuracy and visibility are vital in maintaining a motivated sales force and rolling out new products.

New York — Switzerland-based Zurich Financial Services Group named Kevin Dunham as senior vice president and global relationship leader for the Western region of its Global Corporate in North America business unit. Dunham is based in Glendale, Calif., and will manage accounts primarily in the Southwest and Western United States."Kevin's range and depth of experience in all aspects of customer service and relationship management, specifically in this region, make him an ideal candidate for this role," says Mario Vitale, CEO of Zurich Global Corporate in North America. "His focus will be on developing and expanding relationships with our brokers and customers in order to provide them with a differentiated experience, and to deliver Zurich products and services."

Warren, N.J.–The Chubb Group of Insurance Companies has created ePolicy, a secure electronic insurance policy, to streamline the delivery of personal insurance policies and reduce environmental waste.

Miami - To deliver on the commitment to promote ecosystem-based innovation and collaboration, Walldorf, Germany-based SAP AG announced that the industry value network (IVN) for insurance will join 13 existing industry-focused IVNs hosted by SAP. The IVN for insurance will bring together independent software vendors, system integrators and SAP to co-innovate with insurers to help them improve profits, customer relationships and their competitive position through effective applications and a flexible IT environment. Members of the IVN for insurance will initially focus on issues facing property/casualty insurers in the North American market in the areas of claims, customer service, sales and distribution, and underwriting and policy processing.Plans for the IVN for insurance currently include key innovative partners in the insurance industry: Adobe, CGI, IBM, MSG, Opentext, Planetsoft and Skywire. The partners and SAP will initially collaborate to bring together industry expertise, knowledge and capabilities in a multi-vendor ecosystem to address the high-value business needs of customers. Customers will be invited to participate in the second phase of the IVN.

Denver - Colorado Casualty's appointed agents in Arizona and New Mexico are the first in the Liberty Mutual Group member's six-state territory to be equipped with Commercial IQ, the company's, Web-based technology for commercial lines quoting, binding and policy issuance.Commercial IQ is designed to deliver an automated underwriting process with expanded, yet simplified, eligibility criteria, and a sophisticated pricing system with multiple price points, which results in fewer referrals, less intervention, the best price up front and quicker policy issuance. Commercial IQ's "Quick Quote" feature enables agents instant access to a faster online quote with minimal entry of information, according to Liberty Mutual Group. Agents also can select the most appropriate product for a commercial risk using Commercial IQ's SmartNav, the pre-qualification tool that requires only a business class code and responses to a few basic eligibility questions to best meet customers' needs.

Armonk, N.Y. and Ottawa - IBM and Cognos have entered into a definitive agreement for IBM to acquire Cognos, a publicly held company based in Ottawa, in an all-cash transaction at a price of approximately $5 billion or $58 per share, with a net transaction value of $4.9 billion. The acquisition is subject to Cognos shareholder approval, regulatory approvals and other customary closing conditions. It is expected to close in the first quarter of 2008.The acquisition of Cognos supports IBM's Information on Demand strategy, a cross-company initiative announced on Feb. 16, 2006 that combines IBM's strength in information integration, content and data management and business consulting services to unlock the business value of information, according to IBM. Integrating Cognos, the 23rd IBM acquisition in support of its Information on Demand strategy, will enable new business insights to be delivered to a broader set of people across an organization, beyond the traditional users of business intelligence.

Pittsburgh – Looking for something special for a special someone this holiday season? Highmark Inc. has come up with a novel marketing idea - the Highmark Healthcare Visa Gift Card.