ACORD LOMA 2010: The Year of Facebook
The Facebook buzz is the latest and most alarming signal that consumer behavior is accelerating beyond the insurance industry's ability to keep pace with it.
Northwestern Mutual Names John E. Schlifske Chairman and CEO
Current company president John E. Schlifske will succeed Ed Zore as CEO on July 1 and chairman as of Aug. 1. Gary Poliner will take on Schlifske's former role of president, and has also been named chief risk officer by Northwestern Mutual's board of trustees.
Thunderhead Launches New Forms Management Feature Set
The new Thunderhead NOW Advanced Forms Management feature set delivers four capabilities that provide greater management control and visibility, and reduce the risk of noncompliance while expediting form completion.
StoneRiver Debuts Customer Stream Solution
A component within StoneRiver's Stream product suite, the browser-based Customer Stream solution enables P&C carriers to manage information about parties such as claimants, agents, and body repair shops.
Senate Financial Reform Bill Mostly a Relief for Insurers
The potential for duplicative federal insurance regulation did not materialize within the Restoring American Stability Act of 2010 passed by the Senate, but concerns still remain how the final law will affect the industry after passage through the House later this year.
OneBeacon Launches New Website
OneBeacon Insurance Group's specialty accident and health business has unveiled a new website geared towards the transportation industry.
Peter Lynch to Head LexisNexis Insurance Exchange
Peter Lynch to head LexisNexis Insurance Exchange, a new alliance formed through The Council for Insurance Agents and Brokers, MarketCore and LexisNexis to improve the efficiency and transparency of the intermediary distribution system.
EXL Acquires LifePRO PAS Vendor PDMA
Through its client work, services firm EXL has deep experience working on the LifePRO policy administration platform, which is deployed at about 40 insurers worldwide.
SAP Will Acquire Sybase for $5.8b
Sybase will continue to operate on a standalone basis after the acquisition, which SAP says will create synergistic benefits for both companies.
Allstate CIO Details Cloud Computing Strategy
"For a company like Allstate with a data and customer-centric focus, being able to ensure performance, operability and integration are of utmost importance," says Allstate CIO Cathy Brune. "The business case isn't always there either - it's not always less expensive or better."
Facebook FTC Complaint: Insurers Should Distance Themselves From Exploitative Practices
Prominent insurance users of the platform have adopted the best practice of not using Facebook or other social media sites to directly advertise products or transact business. To emphasize that more respectful distance from direct commercial conversations, they may want to explicitly state their disapproval of Facebook's exploitation of user information, if the allegations are demonstrated to be true.
New Tech Increasingly Extends the Life of Legacy Policy Admin Systems
Newer technologies have provided increasingly effective means to extend the life of existing systems. For example, MajescoMastek has utilized service-oriented architecture (SOA) to build its service bridge offering, which unifies data from policy admin systems to branch office systems, new business systems and practically any other systems.
StoneRiver Adds Billing Offering to Stream Solution Set
Billing Stream is designed to maximize real-time processing and support standard direct bill functionality, including single policy- and account-level billing, and multiple payment options, such as electronic funds transfer, credit cards, mortgagee billing, and payroll deduction.
Profit With A Purpose: Microinsurance Fund Logs Record Investments
If microinsurance is indeed a viable business, then we should look forward to companies like J.P.Morgan touting its profitability rather than emphasizing its social value. Charity may or may not be effective, but a business proposition that truly benefits both parties to the deal will ensure that capital will continue to flow to places where it can do great good.