A.M. Best Expands E-Fusion Award to Six Categories.Business Editors OLDWICK, N.J.--(BUSINESS WIRE)--May 25, 2004 The 2004 E-Fusion Insurance & Technology Awards have been expanded to six categories. "Interest in our awards program has snowballed, so we need to better reflect the widespread business and technology innovation that's taking place across the insurance industry," Conference Chairman and A.M. Best CIO CIO: see American Federation of Labor and Congress of Industrial Organizations. (Chief Information Officer) The executive officer in charge of information processing in an organization. Paul C. Tinnirello said. The E-Fusion Awards, now in their third year, seek to recognize innovative, business-oriented uses of technology by those in the insurance industry, including carriers, brokers, agents, reinsurers and providers. Last year's E-Fusion award program drew 97 entries. "Comparing an agent-service system built by a life company with a satellite-based weather-risk program from a reinsurer re·in·sure tr.v. re·in·sured, re·in·sur·ing, re·in·sures To insure again, especially by transferring all or part of the risk in a contract to a new contract with another insurance company. is difficult," said Program Chairman Lee McDonald, who is coordinating the awards submissions. "We've been amazed a·maze v. a·mazed, a·maz·ing, a·maz·es v.tr. 1. To affect with great wonder; astonish. See Synonyms at surprise. 2. Obsolete To bewilder; perplex. v.intr. by some of the projects that have come forward to participate, so we'd like our judges to better compare apples with apples." Categories now include: -- Underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. Management: property/casualty and life/health underwriting systems, including risk-assessment and other generalized gen·er·al·ized adj. 1. Involving an entire organ, as when an epileptic seizure involves all parts of the brain. 2. Not specifically adapted to a particular environment or function; not specialized. 3. systems. -- Claims Management: property/casualty, health and life claims projects. -- Customer & Benefits Management: e-commerce e-commerce, commerce conducted over the Internet, most often via the World Wide Web. E-commerce can apply to purchases made through the Web or to business-to-business activities such as inventory transfers. and customer-service, marketing projects, customer-relation management projects, benefits management and others. -- Office Automation Management: all back-office systems projects, both financial and operations-oriented, field automation and productivity centers such as dashboard/cockpit projects. -- Agent/Broker Management: producer interfaces, commission-tracking, applications-management through agent/brokers and other third parties, along with producer-oriented portals offered by third parties. -- Special Coverage Management: excess and surplus lines for property/casualty insurance business, along with higher-risk and unusual coverages for life, annuity annuity: see insurance. annuity Payment made at a fixed interval. A common example is the payment received by retirees from their pension plan. There are two main classes of annuities: annuities certain and contingent annuities. and health products. The conference, "E-Fusion 2004 - The Business of Insurance," is set for Oct. 17-19 in Baltimore Baltimore, city (1990 pop. 736,014), N central Md., surrounded by but politically independent of Baltimore co., on the Patapsco River estuary, an arm of Chesapeake Bay; inc. 1745. , Md. Award entries are due by July 16. In August, a panel of judges Panel of Judges is an indie pop band from Melbourne, Australia. Members
The E-Fusion Insurance & Technology conference focuses on e-commerce, Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the communications and best practices by insurers in reducing costs and increasing revenues through innovative uses of technology. Details, registration materials and E-Fusion Award entry forms are available at www.efusion2004.com. A.M. Best Co., established in 1899, is the world's oldest and most authoritative insurance rating and information source. For more information, visit A.M. Best's Web site at www.ambest.com. |
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