Policy adminstration

Approaches to policy administration systems may differ from region to region, but the factors driving replacement are similar.

Customer service, risk management and demographics will mark 2008.

Zurich — Zurich Financial Services Group announced that it is elevating the role of Chief Risk Officer to Group Executive Committee status, and appointing Axel Lehmann to the position, effective Jan. 1, 2008. Also on that date, Mike Foley will succeed Lehmann as CEO of Zurich’s North America Commercial (NAC) division, and will become a member of the Group Executive Committee.

New York — Execution is taking precedence over profit and top-line growth as a focus for CEOs around the world, according to a survey of 769 global CEOs from 40 countries from The Conference Board report, CEO Challenge 2007: Top 10 Challenges. The annual report, conducted during the first quarter of 2007, details specific challenges that CEOs face across regions, as well as by the company’s size, industry, and level of success—all factors affecting the concerns of CEOs.

Regulators advise the public to become aware of ID theft vulnerabilities, while carriers are using technology and third-party help to thwart the bad guys and bolster customer services levels.

Minneapolis — Wolters Kluwer Financial Services named Mark Coronna executive VP of its Securities Compliance and Insurance groups. In this new role, Coronna will be responsible for the company's overall growth in its securities and insurance businesses, which have operational centers in New York City, Waltham, Mass. and Riverwoods, Ill.

Canton, Mass. — OneBeacon Insurance Group announced the appointment of Terry Thompson as senior VP and chief underwriting officer of the company's U.S. operations. Reporting to CEO Mike Miller, Thompson will be responsible for key underwriting matters across the company, including underwriting guidelines, catastrophe management, corporate insurance and reinsurance and the consideration of new business opportunities.

Atlanta — Crawford & Co. named Brian Flynn senior VP and global CIO.

Cincinnatti — American Financial Group Inc., which sells property/casualty insurance, agreed to purchase Strategic Comp Holdings LLC for an undisclosed sum.

As mortgage lenders struggle to contend with the double-barreled threat of rising defaults and lower origination volume, a third, less discussed source of risk is now starting to emerge.

Schaumburg, Ill. – Zurich named Greg Maguire as director of customer and distribution management for Zurich’s Global Corporate in North America unit, effective Jan. 1, 2008.

New York — New York Life Insurance Co. announced the appointment of Christopher Blunt and Susan Thrope to its Executive Management Committee.

Despite celebrating its one-year anniversary last week, the popular press is reporting the insurance industry at large still seems to be taking a “wait and see” position on large-scale implementation of Microsoft’s Vista.

You can't hop into a cab, step into an elevator or walk down the street without passing someone using a Blackberry, iPhone or other type of mobile device. Business professionals, students, police and even your kids are connected every second of the day. As a result, more and more carriers are recognizing the inherent value of mobile technologies as a productivity tool, and have embraced this technology.

Viewed from afar, the claims process has not changed markedly in many decades. Despite new technologies being leveraged in many aspects of claims, for too many insurers, the claims process as a whole remains a manually intensive, inefficient business process-one in which even experienced adjusters find themselves mired in paperwork.

Fairfax, Va. — The National Association of Independent Life Brokerage Agencies (NAILBA) announced the appointment of Thomas A. Kirke to the 2008 Executive Committee. Effective Jan. 1, 2008, the NAILBA Executive Committee will be filled as follows:

Boston – Arbella Insurance Group, a Quincy, Mass., regional provider of property and casualty insurance, hopes to celebrate a winning season with the Boston Celtics basketball team, the carrier announced.

Philadelphia — CIGNA Corp. is expanding into the small-group healthcare market with the announcement of its intention to pay $1.5 billion in cash for Great-West Healthcare, a deal that is expected to close during the first half of 2008, subject to regulatory approval. The Philadelphia-based carrier, whose CIGNA HealthCare business is based in Bloomfield, Conn., said it plans to fund the deal through cash and debt, and that it will also inject approximately $400 million of capital into its subsidiaries to support the acquired business.

Philadelphia — CIGNA Corp. is expanding into the small-group healthcare market with the announcement of its intention to pay $1.5 billion in cash for Great-West Healthcare, a deal that is expected to close during the first half of 2008, subject to regulatory approval. The Philadelphia-based carrier, whose CIGNA HealthCare business is based in Bloomfield, Conn., said it plans to fund the deal through cash and debt, and that it will also inject approximately $400 million of capital into its subsidiaries to support the acquired business.

Schaumburg, Ill. - Zurich North America announced it has added 100 monoline workers' comp business classifications to its coverage offerings. Most of the new classes are for light manufacturing, wholesale and service company risks.