Conning Unveils a New Market Research Tool for Workers' Compensation Insurers.Business Editors HARTFORD, Conn.--(BUSINESS WIRE)--March 24, 2000 The MarketStance Division of Conning & Company, a leading provider of information and investment research services for the insurance and financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. industries, has announced the release of a new market research tool for workers' compensation workers' compensation, payment by employers for some part of the cost of injuries, or in some cases of occupational diseases, received by employees in the course of their work. insurers. MarketStanceWC is a CD-ROM CD-ROM: see compact disc. CD-ROM in full compact disc read-only memory Type of computer storage medium that is read optically (e.g., by a laser). based product that delivers the ability to analyze the workers' compensation marketplace simultaneously by NCCI NCCI National Council on Compensation Insurance (Boca Raton, FL) NCCI National Correct Coding Initiative NCCI National Company for Cooperative Insurance NCCI Namibian Chamber of Commerce and Industry class codes and traditional SIC business classifications. This analysis tool will provide carriers with a resource that should help position themselves in a market that may be headed for some stormy weather. Conning expects the workers' compensation market to be roiled by a combination of factors: inadequate pricing, worsening wors·en tr. & intr.v. wors·ened, wors·en·ing, wors·ens To make or become worse. Noun 1. worsening - process of changing to an inferior state decline in quality, deterioration, declension loss ratios, increased claims costs and stressed reserves. To make matters worse, workers' compensation premiums are anticipated to grow only modestly over the next few years. Nancy Carini, MarketStance's new vice president of marketing and sales, said: "MarketStanceWC can give our clients a competitive edge in a tough environment by allowing them to identify prime opportunities and steer clear of less promising prospects." With the new analysis tool, which will be available in April, clients will be able to bring together traditional market data sources, which categorize cat·e·go·rize tr.v. cat·e·go·rized, cat·e·go·riz·ing, cat·e·go·riz·es To put into a category or categories; classify. cat businesses by SIC, and workers' comp-specific data sources, which utilize NCCI class codes. MarketStanceWC is the first in a series of specialty products based on Conning's MarketStance, a precision market analysis tool for commercial property-casualty insurance carriers and distributors. Complete with a comprehensive database of business demographics The attributes of people in a particular geographic area. Used for marketing purposes, population, ethnic origins, religion, spoken language, income and age range are examples of demographic data. and workers' comp-specific exposures, MarketStanceWC provides the most reliable, up-to-date source of premium estimates by size of account, geographic location and class of business. In addition, historical and forecast growth rates Growth Rates The compounded annualized rate of growth of a company's revenues, earnings, dividends, or other figures. Notes: Remember, historically high growth rates don't always mean a high rate of growth looking into the future. for employees, payroll and number of accounts allow insurers to identify market segment leaders and laggards. MarketStance clients include a majority of top U.S. commercial insurance carriers, as well as many regional insurers, agents, brokers and banks. The Conning MarketStance division was launched in 1997. For more information, contact Nancy Carini, vice president, marketing and sales, at 888-777-2587 x1502 or ncarini@conning.com. Also, visit our website at marketstance.com. |
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