Digital distribution

When it comes to claims processing, insurers are being driven by the rules-business rules, that is. Using rules-based technology, insurance companies are automating routine tasks, streamlining claims workflow with consistent best practices, and automatically adjudicating low-risk claims."At this point, anybody who is not using rules-based technology is already behind the curve," says Michael Lucarini, partner in the insurance group at Bermuda-based Accenture. "There are certain processes and certain areas of low risk where insurance companies need to cut the costs out and streamline those processes. And that requires the ability to segment your claims and understand your claims experience."

If benefits administration managers across the United States appear particularly upbeat these days, it's for good reason.Their responsibility for overseeing employee benefits plans-which many managers have long viewed as a nuisance-is undergoing a significant transformation. In an ongoing process, a pipeline is being built that directly links group benefits insurers to employees in matters pertaining to the individual plan-with employers in many instances serving as intermediaries.

In recent years, a combination of poor planning, bad execution and an inability to properly measure results have conspired to undermined customer relationship management (CRM) initiatives, casting doubt on future insurer investments in this space.Despite these missteps, a growing number of insurance companies have realized that best-practices CRM can become a reality if insurers can somehow summon up the ability to re-engineer their CRM strategies and alter their corporate focus.

As the insurance industry continues to focus broadly on growth, cost containment and risk management, new research has identified several strategic initiatives that might provide traction to insurers as they endeavor to improve their businesses.The final segment in a series of six "2004 Perspectives" formulated by Needham, Mass.-based research and consulting firm TowerGroup examines critical business and technology issues and trends that the firm expects will impact financial services.

HARTFORD, Conn. -- Travelers Property Casualty Corp. announces that it will now provide Web-based ability to create and print Ocean Cargo Certificates of Insurance to its Ocean Cargo policyholders and their agents.

Valley Oak Systems, Inc. (VOS), a national provider of claims management software, services and support, has completed development of a new data extraction tool that will streamline the submission of claims data to the Public Entity Risk Institute (PERI), a non-profit organization that oversees the PERI Data Exchange, a national database of public sector liability and workers' compensation claims, judgments, and exposures.

Skywire Software, a leading provider of enterprise software, announced today that it has named Karl Schultz as the company's new chief information officer. Schultz most recently served on the company's executive team as Sr. Vice President, Software Development. Schultz will be responsible for leading the development of the company's products, delivering on successful customer engagements, and overseeing the company's information technology operations.

Frimley UK--Candle Corporation, a leading enterprise infrastructure management provider, today announced that Royal Liver Assurance has selected Candle`s PathWAIsolutions to support the development, implementation and management of its IBM WebSphere application infrastructure using Linux. Candle`s PathWAI solutions enable organisations to accelerate application infrastructure development and deployment, ensure consistent performance and enhance management control.

NEW YORK--Directors and officers (D&O) liability insurance premiums increased approximately 33% on average from 2002 to 2003, according to the Tillinghast business of Towers Perrin's 2003 Directors & Officers Liability Survey.

E-Z Data Inc., a provider of front-office systems for insurance companies, broker-dealers, general agents, agents, and investment advisors, has announced support for StatementOne Web Services through its SmartLink brand of integration tools. SmartLink for StatementOne Web Services is a pre-configured solution that virtually eliminates the cost of integration between StatementOne Web Services and SmartOffice, reduces the cost for the broker-dealer, and enables advisors using E-Z Data's web-based SmartOffice solution to quickly and easily access and use their clients' StatementOne financial data.

Wausau Insurance has unveiled a new one-stop online information source that will make it easier than ever for brokers to meet and exceed their client needs.

Milwaukee, Wisconsin--COSS Development Corporation, a specialist in illustration and point of sale systems for the financial services industry, has released Journey 2004. Journey is COSS' premier needs-based financial modeling software. The new 2004 version, for both Web and desktop, is now being distributed to current users as an upgrade.

St. Louis, MO--Genelco Software Solutions, a division of Liberty Insurance Services Corporation (LIS), today announced the positive results of a Genelco Group+ benchmark test completed at the IBM eServer iSeries Benchmark Center in Rochester, Minnesota.

MAYFIELD VILLAGE, Ohio-- The Progressive Corporation today reported fourth quarter 2003 net income of $357.8 million, or $1.63 per share, compared to $152.2 million, or $.69 per share, in the fourth quarter last year. Included in net income are net realized losses on securities of $3.0 million, or $.01 per share, for the fourth quarter 2003, and net realized losses of $37.1 million, or $.11 per share, for the same period last year. Net premiums written and earned increased 21% and 23% to $2,906.4 million and $3,040.0 million, respectively, as compared to the fourth quarter last year. During the fourth quarter 2003, the Company produced a GAAP combined ratio of 85.9, compared to 93.3 in the same period last year. Recurring investment income was $121.3 million before taxes and $90.5 million after taxes, compared to $113.5 million before taxes and $82.0 million after taxes for the fourth quarter 2002.

New Haven, CT- Metaserver, Inc., a leading provider of business process integration (BPI) solutions for the insurance industry, announced it has launched its new iConnect agency interface solution for Property and Casualty carriers. The first of several solutions designed specially for insurance carriers, iConnect P&C is compatible with and extends the capabilities provided by leading vendors in the insurance space such as ChoicePoint, CSC, Duck Creek, ISO, IVANS and others.

Brunswick, Maine--Allenbrook Inc., a leading provider of processing software and consulting services for the Property & Casualty insurance industry, today announced a partnership with Whitehill Technologies, Inc. Whitehill provides companies the ability to extract system data, reformat and automatically distribute the resulting output. The integration of Whitehill's cutting-edge technology with Allenbrook's proven software enables carriers to rise above competitors trapped in paper-intensive processes. This partnership will also increase a carrier's ability to meet stringent reporting requirements with ease and cost-efficiency.

WELLESLEY HILLS, Mass. -- Sun Life Financial has announced the addition of a new single life policy to its portfolio of universal life insurance products.

HARTFORD, Conn.-- Travelers Property Casualty Corp. today announces the availability of its new master policy to cover identity theft expenses. Financial institutions or other commercial businesses can purchase this policy on behalf of their account holders or customers, or for use as an employee benefit offering. The new policy furnishes expense reimbursement limits from $500 up to $25,000 per covered person to assist in the restoration of his or her financial health and credit history that has been damaged by identity theft.

EVANSTON, Ill. -- Beacon Research announced today that it has been selected to provide a customized front-end application for BISYS' producer Web site. The application will enable BISYS-affiliated agents and brokers to easily and quickly select the most appropriate fixed annuities for their clients.

HARRISBURG, Pa.--Pennsylvania Insurance Commissioner Diane Koken said today that Pennsylvanians may see a reduction in the premiums on new life insurance policies because of a change in the mortality tables used to calculate the insurance premium.