How to do IT: E-Fusion 2003: insurers use information technology to increase profit and efficiency.New technologies are helping insurers gain productivity, fight fraud and launch increasingly versatile business communication tools, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. insurers who spoke at "E-Fusion 2003," A.M. Best Co.'s Insurance & Technology Conference Sept. 28-30 in Philadelphia. Among the noted successes: * St. Paul St. Paul as a missionary he fearlessly confronts the “perils of waters, of robbers, in the city, in the wilderness.” [N.T.: II Cor. 11:26] See : Bravery Cos.' small commercial business is newly reinvigorated with a dedicated sales force and updated policies, pricing and automation. * MetLife Auto & Home Group is detecting a significant volume of auto claims that might be fraudulent with its new automated screening system. * Prudential Financial's electronic application cuts the number of paper forms the life insurer needs to create, distribute, update and inventory. Project selection is crucial. "We need to do a better job of defining value on the front end," said business consultant Jack Keen. Insurers can't ignore the burgeoning wireless movement, said several technologists in attendance, noting that insurance professionals need to get the knack of communicating and exchanging information from remote locations, and in real time, to remain competitive. Give and Take: Tony Gadaleta from Cincinnati Financial Cincinnati Financial Corporation (NASDAQ: CINF) offers property and casualty insurance, its main business, through The Cincinnati Insurance Company, The Cincinnati Indemnity Company and The Cincinnati Casualty Company. Corp., above, and other conference attendees had an opportunity to question presenters about how they implemented their IT projects and pitfalls to watch out for. John R. Cashin, Stroock & Stroock & Lavan LLP LLP - Lower Layer Protocol , far left, and William B. Jenkins, SolvIT Consulting Group LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control and ACORD ACORD Association for Cooperative Operations, Research and Development ACORD Agency for Cooperation and Research in Development ACORD Association de Coopération et de Recherche pour le Développement (French) , left, provided the conference wrap-up commentary on the direction of insurance technology. What they had to say about applying IT ... "All things for a niche market A niche market also known as a target market is a focused, targetable portion (subset) of a market sector. By definition, then, a business that focuses on a niche market is addressing a need for a product or service that is not being addressed by mainstream providers. " Sundeep Dronawat, Integrity Life Platform provides binding quotes Jeff Goldberg, Marsh "Agents love ... extensive functionality." Charlie Blackorby, Integrity Life "Opening an entire new marketplace." Peggy Patterson, Arthur J. Gallagher & Co. "E-volutionizing the way we do business." William Friel, Prudential Financial "High-tech, high-touch" approach Richard Connell Richard Edward Connell, Jr. (October 17, 1893 – November 22, 1949) was an American author and journalist, best known for his short story "The Most Dangerous Game." Connell was one of the best-known American short story writers of his time and his stories appeared in the , Selective Insurance Absorbing Dialogue: Todd Silverhart, assistant vice president and head of technology, marketing and distribution for Limra International, listens intently during one of the discussions at E-Fusion. Siiverhart was also a presenter at the conference. A Hearty Time for All: Julie Klapstein and Daniel Chavez, Availity LLC, right, and Mark Birrell Mark Alexander Birrell (born 7 February, 1958) is a solicitor, company director and a former Cabinet Minister in the Australian state of Victoria. Birrell, a small-l liberal joined the Liberal Party's youth wing, the Young Liberal Movement in 1974, inspired by Rupert Hamer's , Wildnet Group, and Mark Chapman, Global Aerospace, below left, joined other attendees at a gala social aboard the Moshulu, a four-mast sail ship docked at Penn's Landing in Philadelphia. Careful Scrutiny: Michael A. Edwards, American Skyline Insurance, was one of the final judges for the E-Fusion Award. What Do You Think? The conference opened with an interactive town-hall-style meeting, led by Paul Tinnirello, left, and Lee McDonald, right, of A.M. Best. Participants exchanged insights, challenges and lessons learned about many front-line insurance technology issues, including outsourcing to other countries, viruses, security and spam. |
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