Insurance & Technology Goes in Depth on Customer Retention

Jun 18, 2009

As the economy continues to sputter, insurers are increasingly anxious to retain their existing customers. But some customers are more valuable than others. As a result, those carriers that get to know their customers well -- from their service demands to their profitability -- have an advantage in today's marketplace. Go in depth on the topic of customer retention in the June/July 2009 issue of Insurance & Technology. Also featuring a carrier profile on Grange Insurance, virtual training at Farmers Insurance, analysis of Oracle's Sun bid, and much more.

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  Insurance Tech Spending: Is This As Good As It Gets?

Vendors say they see signs of life in the insurance technology market, and their marketing strategies are geared toward helping carriers control the costs and risks of IT investments.

  The Key to Keeping Customers Is Getting to Know Them

Carriers that get to know their customers well -- by effectively leveraging collected data and by simply listening to what they say -- have a huge advantage in a tough insurance market.

  Technology and the Science of Customer Retention

Data accessibility, analytics, rules-driven workflow and process visibility can supply the capabilities insurers need to retain profitable customers, according to Dave Kaytes, Novantas, and Matthew Josefowicz, Novarica.

  Not All Customers Are Equal: The Case for Differentiated Service

Insurers can maximize their customer service technology investments by identifying what is valuable to different tiers of customers and matching capabilities to customer profitability.

  Technology, User Experience Keys to Grange Rebranding

As Grange Insurance responds to market changes with a corporate rebranding and other business initiatives, its technology organization seeks to improve the user experience of two important groups -- independent agents and policyholders.

  Farmers Pilots Use of IBM Simulation Game in Call Center Training

Farmers Insurance is piloting the use of IBM's business process management (BPM) simulation game in its call center leadership training programs.

  CUNA Mutual Improves Sales With Voice Signature Technology

CUNA Mutual develops voice signature technology and dramatically improves sales conversion rates in its call center.

  Implications of Oracle/Sun Slight for Insurance in the Short Term

Oracle's bid to acquire Sun is groundbreaking from a general technology point of view but its meaning for the insurance industry is likely to manifest itself over a longer timeframe, as the vendor's strategy evolves.

New AXA Tech CTO Vincent Cohan Drives Global Focus

Moving away from a more regional orientation, AXA's IT services organization will provide worldwide network connectivity and management of IT assets, hardware and software, change control, and incident management.

Louisville Health Information Exchange Taps 3M to Build Health Record Bank Known as LouHIE, the Louisville initiative will differ from other health information exchanges in that consumers will control what parts of their personal health information will be shared with which parties.

  IBM Launches Analytics-Focused Consulting Practice

IBM has launched IBM Business Analytics and Optimization Services, a large analytics-focused practice within its Global Business Services group.


Regulatory Compliance: With the possibility of some form of federal regulation of the U.S. insurance industry seeming increasingly likely, what are the key technologies to meeting the types of transparency and reporting requirements that are likely to be necessary in the emerging regulatory environment?

Information Technology Will Facilitate Governance, Risk and Compliance Initiatives

By Ellen Walsh, Insurance Regulatory Compliance Leader, PricewaterhouseCoopers

  Financial Stability Through Uniformity and Shared Resources

By Sandy Praeger, Kansas Insurance Commissioner; Former NAIC President and Current Chair, NAIC Information Systems Task Force

  Improving Compliance Through Automation
  By Zach McCoy, SVP, Operations and Finance, Kaplan Compliance Solutions

  Creating a Versatile Risk Tool Kit

By Kathy Donovan, Senior Compliance Counsel for Insurance Compliance Solutions, Wolters Kluwer Financial Services

  PacificSource Taps File Virtualization to Migrate Files

PacificSource Health Plans implements F5 Networks' file virtualization appliance to enable non-disruptive file migration and improve network availability.

  SPARTA Reduces Rekeying Headaches

Startup SPARTA Insurance adopts a policy administration platform from LexisNexis Insurity to reduce traditional rekeying inefficiencies.

  Gary Plotkin Supports OneBeacon's Growth Strategy

Web 2.0 communications and collaboration technologies are on new OneBeacon CIO Gary Plotkin's agenda in support of the carrier's specialty lines-focused growth strategy.

  About Insurance & Technology:

Insurance & Technology is the insurance industry's No. 1 authority on business and technology issues. Our mission is to help senior executives with insurance companies of all sizes and types, across all lines of business, stay up to date on technology news and trends, and leverage that information to create competitive advantage and improve the bottom line -- through more-efficient operations, stronger customer engagement, improved service and consistent regulatory compliance and risk management. Insurance & Technology is part of the Financial Technology Network of TechWeb, a unit of United Business Media LLC.

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