The purchase of a long term care insurance policy should be a consideration for everyone entering their retirement years. The American Association for Long Term Care Insurance is offering two free informational guides to consumers with no personal information required to view them. A Three Step Guide to Smarter Long-Term Care Planning and The Most Asked Questions About Long-Term Care Planning can be viewed at their website .
Yesterday, we held a successful event in London on the key challenges and implications of implementing RDR in the UK following our report issued earlier this month. The event was supported with some great and insightful content from the FSA, Focus Solutions and Altus – oh, and of course ourselves.
At the event, the FSA told us that the long awaited final guidance on the rules for handling legacy assets were imminent. What they didn’t tell us was how imminentthe consultation paper was issued this morning with a target response date of 16 January 2012. It is already generating plenty of debate in trade articles. From
If you manage to obtain various house insurance quotes right before you make up your mind for buying any policy then it means that there is a very high change that you will get an extremely nice deal on the coverage. It means that you will be happier and satisfied with whatever policy that you finally buy. It takes time though to apply for quotes and to go through them and compare them but that is the time, which is spent well. You can feel this as well when you would have more money left in the pocket every month as the rental property insurance is going to get much lower as compared to what it was before.
There are a number of reasons why a landlord might consider getting the quotes for house insurance. Read more…
LexisNexis Risk Solutions has entered into a definitive agreement to sell its P&C Insurance Software Solutions business to Genstar Capital, a San Francisco-based private equity firm, for an undisclosed amount.
Based in Connecticut the business unit has approximately 400 employees and provides policy administration software to more than 100 property/casualty insurers.
By joining the Genstar portfolio, Insurance Software Solutions will be able to leverage a wide range of specialist resources and operating expertise to support its future expansion and development.
Following the deal , Jeffrey Glazer, CEO, Insurance will be leaving LexisNexis to lead the Insurance Software Solutions business, which Genstar expects will be renamed Insurity.
As a part of this aqusition, the insurance data and analytics business will be led by Bill Madison and Peter Lynch responsible for the LexisNexis Insurance Exchange.
Both Madison and Lynch will report to James Peck, CEO, LexisNexis Risk Solutions.
Peck said the data and analytics business is the focus of Insurance portfolio as the firm continue to help customers make faster, more accurate underwriting and policy-pricing decisions, reduce claims losses and improve their client’s experience.
The transaction is subject to customary conditions and regulatory consents and is expected to close by the end of 2011.
However the insurer suffered a notable drop in group risk business from July to September but expects this to be addressed with a recovery in quarter four.
It blamed pressures on employment and salaries in general for new business results of £39m (APE) in the nine months to September, slightly down against the same point last year of £42m.
Individual protection volumes grew 11% (APE) to reach £98m (compared to last year’s £88m), with each quarter this year outperforming any quarter since 2008.
Total protection gross written premiums reached £915m in Q3, up £20m against the corresponding period last year, which L&G said reflected growth in new business and the good performance from its book.
Overall, the group said worldwide sales of £1,338m in the nine months year-to-date were marginally lower than £1,347 in the same period last year, but it expected to generate close to £1bn in cash this year.
An L&G spokeswoman added it was 25% up on its Mortgage Club completions at the end of September 2011, compared to the same period in 2010.
Stephen Smith, director, housing & external affairs at L&G, said: “Within an uncertain housing market, Legal & General Mortgage Club continues to grow market share through attracting new users and through innovative trading partnerships.
“The outlook remains difficult but we anticipate continuing to perform very well over the next 12 to 18 months.”
Did you purchase your home owners insurance and then never looked back? Well, maybe it is time for you to dig that home owners insurance policy out. If you own certain expensive items, such as jewelry, Oriental rugs or home office equipment, more than likely you will need a rider on your homeowners insurance policy. A rider is like a mini-insurance policy added to your current home owners insurance policy and it will give added protection to certain items that may be excluded or have low limits on your home owners insurance policy.
Innovation: The term innovation derives from the Latin word innovatus, which is the noun form of innovare to renew or change . Innovation generally refers to the creation of better or more effective products, processes, technologies, or ideas that are accepted by markets and society. Innovation differs from invention or renovation because innovation generally signifies a substantial positive change compared to incremental changes. Is that possible in Insurance technology? Celent thinks it is and that is why every year we recognize insurers who have effectively used new technology in areas such as policy administration, claims, distribution, or underwriting (to name a few) in an innovative and successful way. Innovation in insurance may not be as world changing as the cotton gin, the microprocessor, or the iPad, but if a technology change has a substantial and measurable change on a companys revenues, expenses, processes or people, then it is innovation and we want to know about it.
Therefore,
Guidewire Software, a provider of software solutions to property & casualty (P&C) insurers, has released Guidewire InsuranceSuite 7, the latest core system suite for P&C insurers.
Guidewire said in addition to enhanced versions of ClaimCenter, BillingCenter and PolicyCenter, InsuranceSuite 7 includes three new modules that increase its breadth of core process support: client data management, rating management, and reinsurance management.
Increasing the depth of functionality available to insurers, InsuranceSuite 7, enables improved quality of service to customers, increases business agility, and enhances an insurer’s ability to better respond to catastrophes.
Guidewire vice president of strategy Neil Betteridge said with InsuranceSuite 7 the firm extended both the breadth and depth of core system functionality available to P&C insurers, demonstrating the ongoing commitment to R&D investment to address the industry’s evolving needs.
“The suite also provides insurers the benefits associated with having pre-integrated systems built on a shared platform that are functionally rich applications in their own right,” Betteridge said.