Policy adminstration

One of the most frightening aspects of the financial services meltdown is that it may well happen again. Indeed, a new paper from Society of Actuaries (SOA) and the Joint Risk Management Section says a focus a widespread embrace of enterprise risk management coupled with regulatory enhancements are needed to avert future crises.

The arrival of BPM as a transformational initiative is creating new opportunities for carriers to think about new ways of doing business.

Just a year after the launch of its Attachments Warehouse, the National Insurance Producer Registry(NIPR), a non-profit affiliate of the National Association of Insurance Commissioners, announced an enhancement to the licensing tool that electronically stores documents submitted by applicants. NIPR’s Reporting of Actions (ROA) expands electronic filing abilities to enable producers to submit necessary documents for reporting administrative, criminal or civil action.

Jersey City, N.J.-based ISO and the Des Plaines, Il.-based National Insurance Crime Bureau (NICB) are partnering to create a national information sharing system aimed at thwarting cargo crime.

Few organizations, including insurers, have even begun PIM initiatives; lack of resources a major barrier.

USAble Life and Benefitfocus have struck a multi-year partnership through 2013 that leverages the Benefitfocus suite of solutions related to how group and voluntary benefits are sold, enrolled, billed and serviced, the companies report.

AXA Insurance UK has signed with Duck Creek Technologies Europe Ltd., a software and service solutions provider for the insurance industry, and Tata Consultancy Services (TCS), to supply a new commercial insurance processing system for the insurer.

Genworth, Markel and Unum are just a few of the insurers affected by A.M. Best and Fitch’s latest rating actions.

The Xerox name is generally well known. And now, Xerox Corp. may become even more well known in the insurance industry, as it signed a definitive agreement with Affiliated Computer Services Inc. (ACS) to acquire the business process outsourcing (BPO) firm.

One of the best things about covering the technology industry is that one doesn’t usually have to sully oneself with the hogwash that passes for discourse and wisdom among our nation’s politicians.

Association cheers legal ruling in Michigan.

The National Association of Insurance Commissioners (NAIC) is denouncing marketing efforts by insurance companies aimed at shifting the debate over Medicare Advantage.

iPipeline, www.iPipeline.com a provider of on-demand software that supports marketing, selling, and processing solutions for insurance carriers, distributors and producers, announced the release of its Illustration Suite powered by COSS. The release, made available September 1st, provides agents with improved selling power through new needs analysis and advanced sales concepts and application enhancements. Top carriers and their distributors and agents rely on iPipeline’s Illustration Suite for its power, ease of use and simplicity in comparison to competitor products that are typically complex and difficult to use. Illustration Suite integrates with iGO e-App, an intelligent fillable form, for the seamless transfer of information to accelerate the application process.

The online service launches health insurance Web site for university students.

The Profit Sharing/401k Council of America honored MassMutual for sponsoring a two-part documentary on the retirement challenges facing Americans.

The Independent Insurance Agents & Brokers of America of New Jersey is recognized for its contributions to education.

Testifying before the House Small Business Committee, J. Douglas Robinson, chairman and CEO of Utica, N.Y.-based Utica National Insurance Group, said efforts to rein in the excesses of Wall Street firms might adversely impact smaller insurance companies.

Insurance IT Budgets: It’s a tricky time for those who must make plans for next year, but where should insurers draw the line between caution and boldness?

While endorsements of an optional federal charter for insurers were easy to come by during the previous administration, the Obama administration has largely avoided offering an opinion on the controversial issue.

Photos from INN’s Women in Insurance Leadership Forum.