Policy adminstration

Former California Blues CIO will oversee all of IT, including maintenance and development of software applications that support Esurance’s growing policyholder base, expanding state coverage and product offerings.

The MGIS Companies Inc. (MGIS), a provider of insurance products and services for physicians, has named Michael Green as VP, IT operations. Green will lead the development and implementation of strategic IT systems for MGIS and its subsidiaries.

Marsh & McLennan Agency LLC (MMA), a subsidiary of insurance broker Marsh Inc., is expanding its presence in the Florida market with the acquisition of Eidson Insurance, a $3.4 million revenue property/casualty and employee benefits agency based in Orlando, Florida.

American International Group Inc., the bailed-out U.S. insurer, is raising as much as $2 billion selling a stake in AIA Group Ltd. as Chief Executive Officer Robert Benmosche accumulates funds to repurchase his company’s stock from the Treasury Department. AIG is offering about 600 million AIA shares at HK$25.75 to HK$26.75, according to a term sheet obtained by Bloomberg News. AIG plans to spend as much $5 billion buying back its shares, it said in a statement released via Business Wire.

CNA Financial Corp. has named Cheryl Paton as the assistant VP for umbrella teams, and Andy Cohen as the VP of field operations.

Nationwide Mutual Insurance Co. will use Guidewire PolicyCenter as its underwriting and policy administration system and Guidewire BillingCenter for its P&C insurance lines. Nationwide Mutual already is in the process of deploying Guidewire ClaimCenter for claims handling for all P&C lines of business.

CUNA Mutual Group has promoted Robert N. Trunzo to president of CMFG Life Insurance Co., a role in which he is responsible for the products, distribution and service of the company’s U.S. credit union businesses as well as its 401(k) business.

WellPoint Inc., the second-biggest U.S. health insurer, is planning a four-part debt offering to help fund its $4.9 billion acquisition of Amerigroup Corp. The operator of the Blue Cross and Blue Shield insurance plans may sell three-, five-, 10- and 30- year notes as soon as today, according to a person familiar with the transaction.

Long-term care insurance decisions are not being made only by the elderly, according to a new report. A study conducted by the American Association for Long-Term Care Insurance notes that the youngest claimant was 24 years old when he began receiving benefit payments from his long-term care insurance policy. Now in his seventh year of receiving payments, the coverage was purchased when the claimant was 21 years old.

The combined retirement businesses will have approximately $120 billion in assets under management and 3 million participants.

Mobile usage-based solutions offer choices designed to provide customer-centric data, feedback.

As businesses in the Gulf Coast are finding out again, having a disaster recovery plan is critical to a business’ survival. According to the “Gulf Coast Back to Business Act (2007),” 43 percent of businesses that close after a natural disaster never reopen, and an additional 29 percent permanently close within two years. However, in the wake of the ongoing financial crisis, many disaster recovery plans are now out of date, says Victor Janulaitis, CEO of Janco Associates.

IT contractor hiring is on the rise; researchers say forecasting the hiring of experts is a “net positive."

Poll results reveal that majority of Americans connect life insurance to feelings of security, yet don’t fully understand how such a vehicle can help meet long-term financial goals.

“Frankenstein”—a proposed self-camouflaging malware propagation system—represents a challenge and an opportunity for insurance IT and risk management professionals.

Bidders including Manulife Financial Corp. have expressed willingness to buy the Japanese operations as part of a deal for ING units in Hong Kong and Southeast Asia, said the people, who asked not to be identified as the process is private.

Zurich Insurance Group AG, the biggest Swiss insurer, is seeking more licenses to expand in Chinese cities as part of a strategy to grow in emerging markets, chief executive officer Martin Senn said.

SMA Partner Karen Furtado is given one minute to explain why configuration tools are important to insurers. SMA Partner Karen Furtado explains why configuration tools are important to insurers. Sponsored by ISCS.SMA Partner Karen Furtado explains why configuration tools are important to insurers. Sponsored by ISCS.   

A group of Russian insurers have signed an agreement to implement ACORD standards. This will be the first documented ACORD implementation in Eastern Europe.

New survey finds corporate leaders lack 'digital literacy' – and this holds back growth.