PAS or Play?

In a cutthroat commercial lines marketplace, insurers have sharpened their focus on modernization of their policy administration systems (PAS). Failure to address this issue is a gamble insurers can't afford to make.

By Michael P. Voelker

From the January 2011 issue of Tech Decisions

To draw a parallel between biology and technology, policy administration systems (PAS) started out as simple organisms, existing solely as systems of record for the business an insurer writes. Functionality has gradually evolved and become increasingly complex, and so has the definition of PAS, which—depending on whom you ask—may today incorporate rules-based underwriting and workflow, business analytics, underwriting desktops, document management, and external data exchange.

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Insurers Try to Keep a Lid on Mobile Security

Information is spilling out of mobile solutions today. Risk managers are being challenged by the desire of business users to access data wherever and whenever they wish.

By Robert Regis Hyle, PropertyCasualty360.com

From the March 2011 issue of Tech Decisions

Once upon a time, risk management meant making sure employees didn't trip over boxes lining the hallways. It was a different time and place for risk managers. Today, though, risk management has risen to a level that looks at all types of exposures. In the insurance industry that means internal as well as external exposures.

Still, there are multiple levels of sophistication around enterprise risk management.

"I've had conversations with supposedly sophisticated risk managers who think of ERM only in terms of worker injuries, automobile driving techniques, and fire protection in the building," says David Allred, head of technology for Zurich North America Commercial. "Theydon't go much beyond that to look at the internal risks to the business. Theydon't think about credit risk, political risk, or supply chain management."

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Insurers, Vendors Living Happily Ever After

By Robert Regis Hyle, PropertyCasualty360.com

From the April 2011 issue of Tech Decisions

Andy Scurto has a simple answer to the question: What is the difference between a vendor and a partner?

"Working together to solve a problem is what I consider a partnership," says Scurto, president of ISCS, a policy administration solution provider. "At any size you can be either a partner or a vendor. A partner listens; a vendor reacts."

Are solution providers for the insurance industry treated differently than those that serve other industries? One such vendor feels that way. In his experience in the telecommunications industry, Sandeep Mehta explains he was never considered a vendor—always a partner. Mehta, the co-CEO of Paradox Technology Solutions, finds a different approach in the insurance community.

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Yesterday's Toys; Today's Tools

By Michael P. Voelker

From the June 2011 issue of Tech Decisions

There is no shortage of statistics available for the growing popularity of mobile technology. Personally, the one I found most interesting is that every day, more than 3 million hours are spent playing Angry Birds, a game that began its existence on the iOS mobile platform. While no insurance app is ever going to rival the popularity of flinging wingless birds at green egg-stealing swine, insurers are counting on the power of mobile to impact their claims operations.

"The mobile environment is rapidly evolving in terms of the number of devices, capabilities, and usage," says Jill Rasmussen, assistant director of marketing Web development at Amica Insurance. "Mobileis a space our customers are in, so it's a space we need to be in as well."

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Window of Opportunity

Agency/Carrier Technology: The Many Factors in Ease of Business

By Robert Regis Hyle, PropertyCasualty360.com

From the September 2011 issue of Tech Decisions

Personal lines carriers and their commercial lines counterparts have at least one thing in common when dealing with independent agents: It is absolutely critical for carriers to offer solutions that make it easy for agencies to do business.

At commercial lines carrier CNA, Belen Tokarski, assistant vice president of technology and agency solutions, has learned that not all agents are ready for the newest technology, so knowing the agents is imperative.

"Agents want some level of ease of business, so we make sure we have a solution that meets the needs of any agent selling small-business policies, regardless of their level of technical sophistication," she says.

One problem carriers face when they do business with independent agents is the agents are exactly that: independent.

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Insurance IT Innovation: What's the Big Idea?

By Michael P. Voelker

From the October 2011 issue of Tech Decisions

Within every insurance company, there is a wealth of ideas about how to improve processes and deploy technology in creative ways to solve business problems. The challenge for most insurers is to create a pipeline for ideas and then find ways to turn the best into innovative developments that deliver business value.

Fostering enterprise innovation is the objective of the recently created Innovate ITG (Information Technology Group) program at MetLife. "Innovate ITG is designed to encourage employees, regardless of level, to make business practices better," explains Lynn McGinty, ITG vice president, supporting MetLife Auto and Home. "Those ideas are vetted by a group within ITG, and the most important ones get moved to the top."

Additionally, innovation at MetLife has been facilitated by a recent change to agile development in the ITG. "We had always utilized a waterfall approach, but have come to realize that it is not the best method in a competitive business where speed-to-market is important," McGinty says.

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Plus One: Invitations Sent to Social Media Partners

By Michael P. Voelker

From the November 2011 issue of Tech Decisions

In the physical world, the most basic concept of security is making sure the doors are locked. But in the social networking world, the challenge for insurance CISOs is to keep the doors open while still securing sensitive data and intellectual property.

"From a security officer perspective, we need to find ways to say 'yes' to the business," says Mike Dockery, CISO, Cincinnati Insurance Companies. "We need to enable our CIOs. If they want to use social media to connect with agents, employees, or customers, it's my role to enable it in a secure fashion."

Dockery realizes networking is going to happen regardless of what CISOs do. "It's going on whether we like it or not, so we have to deal with it," he says. "People have social media on their personal smart phones, their iPads and tablets, and they're using those devices for personal purposes. There are limits to what a company can block or control."

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