| Top News | November 19 |
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Guidewire Enhances Policy Admin System "Our mission is to deliver to the industry the best policy administration and underwriting system in the world," says Guidewire Software. In an effort to fulfill that mission, the company has released Guidewire PolicyCenter 4.0 and indicates the new version is designed to increase flexibility in bringing to market products tailored to customers' needs. Read more ISO Offers Geoanalytics Tool for Risk Management A new spatial risk-management system from ISO is aimed to help insurers explore and analyze their portfolios. "LOCATION Analyst is a GIS platform enabling companies to combine three powerful assets—GIS technology, data from their books of business, and ISO data—into a sophisticated package to view their business in a whole new way," says ISO. Read more
Mitchell Unveils New Technology Enhancements SmartAdvisor will be upgraded to the latest Microsoft development framework, .NET 3.5, says the provider of information, workflow, and performance management solutions to the property/casualty claims and collision repair industries. "A more flexible and responsive medical claims system made possible by the .NET architecture will allow carriers to deploy the cost containment programs and strategies they need within an industry standard technology framework," according to Mitchell. Read more Maximum Processing, RiskMeter Alliance Expands P&C Solution The Stingray System integrates CDS RiskMeter's real-time, natural hazard reports into Maximum Processing's Web-based administration solution. "RiskMeter's partnership with Stingray will enable users to have this information automatically returned so they can quickly assess risk and accurately price policies," says the founder of RiskMeter Online. Read more Auto Insurers Found To Be Biggest Users of Predictive Models According to a poll by Towers Perrin, seventy-six percent of the personal lines carriers said they view predictive modeling techniques as essential. The firm reports the findings "indicate a dramatic evolution in insurers' pricing strategies, as historically, many firms relied solely on traditional cost-based pricing approaches to set prices." Read more |
| Quick Stat |
| High Priority Investment and activity levels in new business/underwriting were higher than any other target area, according to Celent in its third-quarter assessment of industry expectations and strategies. Fifty-nine percent of insurers surveyed list this as a high priority. Fifty-one percent of respondents list claims, and 50 percent list infrastructure. |
| Features |
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Survival of the Fittest By Robert Regis Hyle Most insurance companies went into survival mode in 2009 to get through the economic collapse. Many turned to innovative measures—such as connecting to new customers through social networking. Others went back to the tried and true—doing more with less. The budget forecast for 2010 is guarded, but opportunities nevertheless present themselves. Read more Forever Young By Michael P. Voelker To avoid replacement, legacy systems must be able to be rejuvenated in order to adapt to new market realities. Read more Repeat After Me By Robert Regis Hyle For years, insurers watched in horror as business processes multiplied haphazardly with no clear method to control the mayhem. Today, though, business process management allows carriers to produce more work consistently in a shorter period of time, and that delivers value for the enterprise. Read more |