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London – Instability within the financial markets represent the biggest threat to the global insurance industry, according to a survey conducted last month by Lloyd’s of London. The survey asked 138 Lloyd’s underwriters to answer questions about working in the Lloyd’s environment, including the identification of those emerging risks that will most likely challenge the insurance industry over the coming year.
February 19 -
Brookfield, Wis. — Dallas-based workers’ compensation e-transaction provider P2P Link, a business unit of Fiserv Inc., Brookfield, Wis., released P2P Direct, a new product specifically tailored to the workers’ compensation medical provider marketplace.
February 19 -
Dallas — Republic Companies Inc. acquired Four Corners Insurance Services Inc., a general agency based in Phoenix, Ariz. Four Corners specializes in non-standard auto insurance coverages produced through independent insurance agents in Arizona, Oklahoma, Oregon, Utah and Washington, D.C. Philo Smith Capital Corp. served as Four Corners' broker in this transaction.
February 19 -
Chicago — In a commitment to client service excellence, Aon Corp. will integrate its worldwide risk and insurance brokerage operations into a single global business, Aon Risk Services, with more than 26,000 colleagues in 120 countries and more than $5 billion in revenues.
February 19 -
Baton Rouge, La. — New Orleans investment company owner David Voelker was named to the board of directors of Louisiana Workers’ Compensation Corp. (LWCC), a private, nonprofit mutual insurance company.
February 19 -
The insurance industry is partnering with academia in the use of some rather unique efforts to actively address the anticipated shortage of IT talent.
February 12
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Turnersville, N.J. — The Computer Measurement Group (CMG), a not-for-profit worldwide organization of IT professionals committed to ensuring the efficiency and scalability of IT service delivery to the enterprise through measurement, quantitative analysis and modeling, is making its conference proceedings from 1997 through 2005 available to the public.
February 12 -
San Francisco — Universal Warranty Corp. (UWC), a subsidiary of GMAC Insurance, Maryland Heights, Mo., introduced new technology and process enhancements, making its aftermarket finance and insurance (F&I) sales process completely electronic. The full set of solutions, Online Performance Suite, is the most recent addition to GMAC Insurance's portfolio of customer-centric products and services, and also has the potential to reduce time spent on every transaction by up to 20 minutes, according to the company.
February 11 -
West Des Moines, Iowa — The Property Casualty Insurers Association of America (PCI) recently elected Jim Wallace to its Board during its recent Executive Roundtable held in Naples, Fla. Wallace is president and CEO at GuideOne Insurance, an insurers of churches and churchgoers.
February 11 -
New York – Consulting firm Oliver Wyman Group acquired Boston-based Celent LLC on Feb. 1, 2008. Oliver Wyman, a subsidiary of New York-based Marsh & McLennan Cos., has a staff of more than 2,500 people, operating in 16 countries, and specializes in the financial services industry, where Celent has positioned itself over the past eight years.
February 8 -
Baton Rouge, La. - Chance Perry of Vinton, La., has been selected as the 2007 recipient of the Stephen Cavanaugh Scholarship. Louisiana Workers' Compensation Corp. (LWCC) established the Stephen W. Cavanaugh Scholarship Fund in 2006 in honor of Cavanaugh's leadership and lasting contributions to the insurance industry in Louisiana. Cavanaugh was LWCC's CEO from the company's inception in 1992 until his resignation in 2006. He was diagnosed in September 2006 with Stage IV pancreatic cancer and died November 15, 2006, at age 55.
February 7 -
Columbia, S.C. - Colonial Life & Accident Insurance Co. announced a partnership with ESPN that involves the sole sponsorship for the "one-on-one" match-up analysis to run during ABC's college basketball game of the week each Saturday for the remainder of the regular NCAA season.
February 7 -
San Mateo, Calif. – While the industry has traditionally viewed billing as a back-office function, Guidewire’s newest version of its BillingCenter product takes advantage of the J3EE standard to enable insurers to move billing front and center, the company reports.
February 7 -
Competitors from unlikely verticals, a reduction in IT staff, and the ability to clean up data stores and use them to garner business intelligence are but some of the challenges insurers will face through the year 2012.
February 6
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Alpharetta, Ga. – ChoicePoint has resumed its acquiring ways by snapping up Optimal Decisions Group (ODG), an Australian firm that develops analytics and software for the insurance industry.
February 5 -
Hartford, Conn. — Aetna reports that it has entered into an agreement with Flexible (Flex) Benefit Service Corp., a third-party administrator based in Rosemont, Ill., to provide self-funded HRA (Health Reimbursement Arrangement) administrative services to Aetna’s small group market, with the Aetna HealthFund HRA for Small Group. The agreement with Flex is designed to enable Aetna to support the growing needs of the small group market. The HRA will be available nationally for small group customers (groups with two to 50 employees).
February 4
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Business intelligence constitutes relevant, accurate, timely information that can be used in an integrated fashion.
February 1
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PREFERRED HEALTH CHOOSES SALES AUTOMATION SYSTEM
February 1 -
E-business has become a critical component of life and health insurers' way of doing business with agents, prospects and policyholders.
February 1
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