June 2, 2013 - March 22, 2013
September 4, 2013 - April 12, 2013
September 10, 2013 - February 22, 2013
Who is Buying What
Safe Auto Integrates ECM Solution with Guidewire System
December 7, 2012
Safe Auto Insurance Co. is investing in enterprise content management (ECM) solutions in an attempt to better serve its policyholders.
Hyland’s says its OnBase solution will connect information in Safe Auto's Guidewire policy management, billing and claims systems by incorporating unstructured data and supporting documents that come in paper forms, pictures and .wav files. The integration, according to Hyland, creates an easy way for Safe Auto's agents to retrieve inbound and outbound documents from either system in which they currently are working.
The need to deliver quick, efficient service to customers is at the forefront of most organizations' business plans to stay competitive, especially insurers, says Hyland Software. The insurance landscape has changed drastically, going from manual, paper-based processes to an expectation of having instant electronic access to quotes, policy information and agents whenever policyholders need them.
Safe Auto plans to use OnBase throughout the enterprise, with the second phase being to expand the solution to its information technology, human resources, accounting, training and license management departments, Hyland adds.
Nationwide Invests in Fraud Prevention for its P&C Unit
December 6, 2012
Nationwide Mutual Insurance Company and BAE Systems Detica today announced that Nationwide has selected the Detica NetReveal enterprise fraud detection solution for its P&C business.
“Challenged to effectively contain fraud and leverage growing amounts of data from multiple systems, insurers of all sizes are deploying sophisticated analytics solutions such as Detica NetReveal to help identify potential fraud,” said Stephen Applebaum, Senior Analyst Property/Casualty Insurance, Aite Group.
Detica NetReveal is designed to prevent fraud at the point of policy application, BAE Systems Detica said, adding that it also networks and scores related entities and records within a company’s dataset to expose networks of suspicious activity that are otherwise hidden.
“Claims fraud in the North American P&C insurance industry is conservatively estimated to cost $30 billion annually, and questionable P&C claims have risen more than 33 percent since 2008. This allows them to allocate and prioritize valuable resources where most needed. These solutions are proving very effective at identifying fraud, which further benefits carriers and their policyholders,” Applebaum said.
edge IPK Picks Up User Experience Client
December 5, 2012
Intact Financial Corp. has selected edgeConnect from edge IPK, a user experience platform (UXP) for insurance users through any device, browser and language.
“By leveraging edge IPK’s user experience platform, we will improve our ability to adapt to the changing consumer demands, all while gaining efficiencies, streamlining workflows and delivering a richer user experience,” says Sergio Zanardo, VP of application development for Intact Financial Corp.
"edgeConnect offers Intact a way to easily and simply leverage its existing system infrastructure,” says Wendy Aarons-Corman, edge IPK’s North American president. “This will enable Intact to provide different user views and interaction models to its various user communities quickly.”
The Navigators Group Selects AIR Worldwide Modeling Solution
November 19, 2012
The Navigators Group, a commercial P&C specialty insurance holding company, has selected CLASIC/2 and CATRADER catastrophe modeling solutions from AIR Worldwide (AIR) to manage its catastrophe risk. The Navigators Group will leverage AIR’s catastrophe models to assess risk from wind, flood and earthquake for their exposures in North America, Latin America, Europe and Japan.
AIR says CLASIC/2 and CATRADER catastrophe risk management solutions are designed to meet the complex needs of the insurance industry, enabling companies to assess catastrophe loss potential from the portfolio level, down to the individual location level. AIR’s catastrophe models incorporate science and engineering to provide a comprehensive and realistic view of risk.
Mortgage Insurer Turns to HarmonyLoan Platform
November 19, 2012
Radian Guaranty Inc., the mortgage insurance subsidiary of Radian Group Inc., will provide mortgage insurance (MI) on loans within the HamonyLoan platform. HarmonyLoan is a mortgage feature designed by Mortgage Harmony Corp., a financial services technology company and provider of residential mortgage products.
HarmonyLoan can be applied to fixed-rate or adjustable rate mortgages (ARM), conventional or jumbo loans, and on new and existing mortgages, according to Radian. It allows a borrower to adjust the interest rate on the loan without the need for a traditional rate-term refinance. When at least a 25-basis-point reduction in the mortgage market rate exists, the system is designed to enable homebuyers to reset the mortgage rate with just one click on a personalized, secure, web-based site, without the expense and hassle of a traditional refinance.