In its first report profiling IT service vendors for the insurance industry, Boston-based insurance consultancy Celent concludes that the most successful partnerships insurers have with IT service vendors those that are not just about replacing staff or lowering costs. Though a cost-minded insurer may find significantly lower expense from a good relationship with an IT service vendor, many find these engagements save costs in one area while requiring unexpected expenditures in others. The best partnerships, Celent says, are those that are long-term, strategic engagements in which a vendor is leveraged to bring in new expertise, add both technology and domain knowledge to the business, and is relied on as a true partner.

The composite rate for property and casualty coverages in the United States was down 4% for March 2010, according to According to MarketScout, a Dallas-based electronic insurance exchange that underwrites and distributes product lines to a 35,000-member agency network across the United States. The composite rates for February 2009 and 2010 were down 8% and 5% respectively.

Anomalously warm tropical sea surface temperatures in the Atlantic portend an active hurricane season according to forecasters at Colorado State University.

The latest results collected from Northwestern Mutual’s Optimism Barometer, an online measurement tool, indicate a distinct upward trend in positive outlooks among Americans, despite the near-term challenges of the current economic climate. Most notably, recent data has revealed a 60% year-over-year jump in people who scored at the highest end of the optimism scale.

Brendan Voss will help establish new policies and procedures for the settlement of claims.

Messaging and e-mail are the best starting points for insurers, experts say.

Macroeconomic climate and soft market are dampening insurance merger activity, reports find.

S&P affirms AIG and CIGNA, while A.M. Best downgrades First Beacon Insurance Co. and affirms Securian Financial Group subsidiaries.

State-by-state variances factor large in latest analysis of P&C insurer performance.

WebSearch, a component of DocuLex’s Archive Studio imaging software, now offers keyword search to help users determine market trends and make decisions.

Insurers should mandate risk management exercises be a part of every IT project.

Analysts skeptical of The Hartford's new plan to cross-sell its life and retirement capabilities to existing customers who own businesses.

The Obama administration recently came out in favor of annuities, but so far, only a handful of large employers offer this option.

NAIC study says only 45 % of Americans feel confident making insurance decisions.

House Financial Services Committee is tentatively considering addressing flood insurance later this month.

As insurance claims mount, the NHTSA charges Toyota with failing to act in a timely manner to notify customers of acceleration problems.

After about nine months on the job, AIG's CEO says he's not yet ready to return to his retirement.

Study shows data needs better protection; insurers require more training and IT participation when evaluating cloud computing.

The economic downturn has not altered the level of retirement planning, a new report finds.

The most talked-about provisions of both the House and Senate bills would give regulators powers they already have and, so far, have largely ignored.