Policy adminstration

In a new user survey, a majority of respondents expect business intelligence (BI) to continuously grow worldwide, though most remain unsure about the value of analyzing data from social media sites. The global survey was conducted by Baseline Consulting and Kognitio, a provider of BI and data warehousing solutions.

Forrester Research recently predicted the technology sector is will see a recovery in 2010. The same could hold true for the property/casualty insurance industry. According to a survey conducted by the Insurance Information Institute (I.I.I.) at its 13th annual Property/Casualty Insurance Joint Industry Forum, 77% of executives in the property/casualty industry expect financial troubles to diminish in 2010.

Microsoft and HP today announced a $250 million technology development partnership and a series of software/hardware/service rollouts that HP CEO Mark Hurd called "the deepest level of collaboration and integration" in his company's history.

Instead of focusing on product features, insurers are focused on growing customer wallet share and capturing emerging customer segments, such as Gen Y. Tech vendors need to pay attention.

Small insurers are seizing the chance to address consumers’ unmet needs, giving the market segment a sizable share of the overall property/casualty market and strong positions in some specific market niches, according to a new study by Hartford, Conn.-based Conning Research & Consulting.

Insurers that tie themselves to major sporting events build brand by capturing eyeballs in an innovative way, not by trying to be "cute" with their sponsorships.

The Hartford Financial Services Group is making an effort to help employers de-stress. As the finale of a three-part direct mail campaign, the group benefits carrier recently sent stress balls to leaders at nearly 2,000 large companies. Each executive received a hand-sized, squeezable ball printed with the Web address for The Hartford Experience (http://thehartfordexperience.com/).

Business analytics software as a service is expected to grow three times as fast as the total business analytics software market in the 5-year period between 2008 and 2013, according a new study from market researcher IDC.

A.M. Best, Fitch Ratings, Moody’s Investors Service and Standard & Poor's announced ratings updates. The following are some of the most recent:

As many variable annuity providers simplify and streamline their products, Axa Equitable Life Insurance Co. in New York is bundling theirs.

The amount of data we have is growing faster than our ability to store it, and that spells trouble for enterprises.

Even to those tasked with understanding it, the insurance industry can seem opaque. After in-depth interviews with 43 financial analysts who cover the insurance sector, New York-based PricewaterhouseCoopers finds a widespread dissatisfaction with the current insurance financial reporting framework.

Dice.com, a career Web site for technology professionals and employers, issued its employment report for January 2010. As of Jan. 4, 2010, there were 48,751 jobs available in technology. Of those, 28,142 were full-time, 23,590 were contract, and 1,074 were part-time positions.

Hotels and retailers top Forrester Research’s latest customer experience ranking, Customer Experience Index (CxPi). Insurers, though, rank among the bottom four industries on the list.

WL Ross & Co. (WLR&C) has reportedly ended negotiations with American International Group, New York, to buy its mortgage insurance division, United Guaranty, Greensboro, N.C., according to industry sources.

Genpact Ltd. has been awarded a 3-year contract from Max New York Life Insurance Company Ltd. Under this arrangement, Genpact will provide Max New York Life with customer service related solutions in select geographies, employing multiple regional languages and sophisticated technology.

The insurance industry is offering praise for retiring Senate Banking Committee Chairman Christopher Dodd (D – Conn.), who announced last week he would not seek reelection next year.

GEICO has had enough; the insurer is working with the New York State Insurance Department’s Frauds Bureau, the National Insurance Crime Bureau (NICB) and law enforcement agencies to curb fraud and increase public awareness of the problem.

Global wealth management technology spending by banks, brokerages and insurance companies is set to reach $3.7 billion by the end of 2010, up 5% from 2009, according to a report released January 7 by Boston-based research firm Celent.

As legislators work to craft a final health care reform bill, insurers are seeking to stop inclusion of a provision that would eliminate industry antitrust exemptions created by the McCarran-Ferguson Act.