Policy adminstration

Predictive analytics is no longer just for actuaries. New tools for data-driven decision-making are reducing costs, increasing profitability and pushing into claims, sales, marketing and beyond.

From tracking this year's flu epidemic via social media, to Google's Instant searches, Amazon's recommendations and predictive keyboards on smartphones, businesses everywhere are embracing predictive analytics.

An insurer thriving in a modern, digital infosphere likely is structured differently than one that evolved from the analog age.

How to effectively deal with the insurance equivalent of enterprise resource planning: policy administration systems.

Sue Erhart originally joined the insurer in 2010.

Sales and hiring expectations are restrained, however, due to public policy concerns.

Policy administration, claims and billing to be centralized for all of Haverford's group of companies.

In anticipation of the announcement of designations for non-bank systemically important financial institutions, Howard Mills, director and chief advisor of Deloitte’s insurance industry group and former New York State Insurance superintendent, shares thoughts about some of the last-minute speculation and what options insurers will have if designated.

Mike Scyphers gets the nod from the specialty underwriter after four years with the company.

The insurance industry in Puerto Rico had a compound-annual-growth-rate of 5.8 percent between 2007 and 2011, despite a contracting national economy, according to a report from Timetric, a provider of online data, analysis and advisory services on the financial services industry. However, opportunities for further foreign investment and sustained growth in Puerto Rico are limited, due to the high rate of insurance penetration, according to Timetric’s “The Insurance Industry in Puerto Rico, Key Trends and Opportunities to 2017.”

Social media, content sharing by media and non-media organizations create large liability exposures.

Fixed and indexed annuity product support capabilities added to web-based system.

The phase where companies focus on accruing millions of followers and likes is ending; a focus on influence is what should replace it.

The insurers will offer custom product suites on iSelect Custom Benefits Store, a Michigan multi-carrier and multi-distributor benefits exchange for mid-sized and small employers.

The part of the legislation that prompted the halt placed a cap on non-emergency care and a 14-day deadline for treatment from massage therapists, acupuncturists or chiropractors, as well as the requirement that an emergency medical condition exist for the full $10,000 PIP coverage.

Shifting health care costs and aging claimants will sharply affect auto insurance costs in the years ahead, according to Assured Research.

As the life insurance and annuity industries move toward model-based approaches to reserve and capital valuation, actuarial models are increasing in complexity and sophistication while the imperative to avoid modeling errors also increases, according to a recent report from Deloitte, titled “Actuarial Modeling Controls: A Survey of Actuarial Modeling Controls in the Context of a Model-Based Valuation Framework.”

New York State's Department of Financial Services has reached a settlement with the country's largest force-placed home insurer, in a deal meant to lower prices and prohibit widespread kickbacks in the industry. The agreement with Assurant Inc., one of two insurers which dominate the market, will lower insurers' profit margins and prohibit banks from receiving payments that pad the cost of insurance.

Enterprise Accounting System and investment solution brought in to support the insurer's regional expansion.

Customer self-service solution purchased in an attempt to provide a better consumer experience, cut operational costs.