Archive for the ‘Insurance’ Category

  Innovation in High Performance Computing As the leading provider of products and services for managing catastrophe risk, RMS offers technology for managing risks associated with events ranging from earthquakes and floods to pandemics and terrorism. Understandably, it’s a CPU intensive business. “Not only does it require a lot of computing power for simple results, but ... Full story

 Aon's AuMine application is the principal policy administration systems for Aon Risk Services containing functions like client management, policy management, and document production. AuMine is a globalized application developed in .NET with consolidated functionality from a variety of internal systems on various platforms. For cost reasons, Aon decided ... Full story

By Sherree DeCovny Harford Mutual, a Maryland-based property & casualty insurer, does not have a data warehouse, so its existing online transaction processing (OLTP) databases are used as the source for about 450 reports. At peak reporting times when all the online applications hit the same databases, the day-to-day transaction-based systems slow down significantly. To rectify ... Full story

In early 2005, Guardian Life Insurance Company of America (annual revenue: $7.65 billion) had no standardized sales and marketing tool for its 3,000 financial advisors nationwide. The sales force supplied its own material and technology from a variety of independent sources, over which the home office had little control. “Guardian decided ... Full story

With competition increasing for nonstandard auto risks, companies such as Chicago-based Unique Insurance are realizing that they must step up their efforts to retain their customers. For Unique Insurance, that means new policy management software. “Our representatives will become more efficient in handling claims, our customers will be more satisfied, and, in turn, more of them ... Full story

The Allianz Life Insurance Company of North America is not waiting out the financial crisis to make itself more attractive to agents who have gotten decidedly more picky over the years. It knows better.  “With the increase in the number of product choices, agents have more choice in who they do business with,” says Jason Linn, VP ... Full story

As investment decisions grow increasingly complex, insurance firms and other institutions seek faster and more comprehensive financial accounting and reporting around their holdings. Northern Trust is finding an answer for its clients in an outsourcing solution based on Windows software from Pendo Systems, Inc." In today's challenging environment, clients demand full data access and financial reporting that can be completely integrated with front-, middle-, and back-office operations," ... Full story

For insurance companies to best address their business needs, they must be able to transform their complex transactional data into focused, clear, and relevant information. With such information at their disposal, insurers can then monitor business trends, optimize product pricing, identify profitable segments in their portfolios, and maximize profitability while minimizing exposures. While data warehousing projects and Business Intelligence (BI) tools are there to provide ... Full story

Warren, N.J.-based Chubb Group of Insurance Companies recently implemented Applied Systems’ claims download to improve customer service and enhance its brand. The provider of property and casualty insurance products and services has a worldwide network of some 120 offices in 28 countries. Its strategy is to build long-term relationships with its customers and its ... Full story

Despite the implementation challenges, software-oriented architecture (SOA) can be a great vehicle for streamlining and expanding financial services offerings. Insurance provider Unum is now finding this out through an ambitious joint effort by business and technology specialists to build a new self-service portal for small to medium-sized business (SMB) customers. ... Full story