Tuesday, December 22, 2009

New Report Published by Insurance Technology

In the report "Technology Leadership in Insurance: Insurance & Technology's Elite CIOs Report" it is mentioned that I&T's 2009 Elite 8 insurance technology leaders are rising to the challenges presented by tight budgets, an unsettled regulatory environment and untested new channels to seize opportunity amid crisis.

In this report following EXECUTIVES have shared their experiences.

  1. Kevin Murray, AXA Equitable
  2. Andy Edwardson, Farmers Alliance
  3. Lori Beer, WellPoint
  4. Robert Casale, MassMutual
  5. Andy Wood, Wilton Re
  6. Eileen Slevin, New York Life
  7. Mark Berthiaume, Chubb Group
  8. Keith Sievers, Unitrin Services Group

It also covers use of Web 2.0 tools and social media. The report is available for download on registration.

Friday, September 18, 2009

Webinar Series related to Insurance and Content Management

Earley & Associates is hosting a free 4-part Jumpstart webinar series focused on Insurance and Content Management which is sponsored by ISN (Insurance Services Network) The series of 90-minute weekly webinars will bring together an exceptional list of industry and content management experts to address business concerns and technical know-how for educating insurance professionals on optimizing processes through effective content management.

The series contains following four sessions:

Content Management and Social Media for the Insurance Industry
September 24, 2009 - 1:00 - 2:30 EDT
Taxonomy and Metadata - State of the Practice in Insurance
October 01, 2009 - 1:00 - 2:30 EDT
Managing Knowledge and Collaboration in the Insurance Industry
October 08, 2009 - 1:00 - 2:30 EDT
Records Management and E Discovery for the Insurance Industry
October 15, 2009 - 1:00 - 2:30 EDT

For further session details and registration, go to http://www.isn-inc.com/link.aspx?l=2&mid=622&lid=96062

Thursday, March 19, 2009

Insurance News

Drive Less. Pay Less:
Have you ever heard about costs of auto insurance on Mileage-based? Well, it’s happening in Texas, USA. It’s really useful for people who drive less, and therefore pay less. MileMeter is the first company in the world to develop and get approval to offer an insurance by-the-mile program. There are many Customer Benefits of MileMeter.

No life Insurance for bad genes?
As reported by newspaper Sydney Morning Herald, in Australia insurance protection especially life insurance is now refused to people because of their genetic make-up, researchers have shown in the first study in the world to provide proof of genetic discrimination. Under industry guidelines, insurers cannot compel people to have a genetic test, but those who have been tested must reveal their results. It is only legal for companies to use this information if they can justify their decisions.

Ban on young drivers from using hands –free phone in UK
According to statement issued by Motor insurer yesinsurance.co.uk (www.yesinsurance.co.uk) the current law relating to driving and mobile phone usage should be amended to include a ban on using hands-free phones for drivers aged under 20. There is a growing body of research that indicates that drinking alcohol and using a hands-free mobile phone carry similar levels of risk," says Paul Purdy of yesinsurance.co.uk. Research conducted at the Transport Research Laboratory has found that drivers talking on both hand-held and hands-free mobile phones have on average 30 per cent slower reaction times than those who have been drinking, and 50 per cent slower times than sober drivers.

Neck size to reveal your health especially heart.
According to new research conducted in UK by Framingham Heart Study, the thickness of person's neck could reveal their risk of heart problems, which may be of interest to holders of private health insurance.

Wednesday, February 18, 2009

Latest Insurance News

1. Issuing cheque with no money in account is fraud
Issuing a cheque with the knowledge that there are insufficient funds in the account comes within the ambit of fraud for which an insurance company is bound to pay claim to a policy holder, the Delhi Consumer Commission has held.


2. New insurance scheme with Rs.1.25 monthly premium on cards
The government will soon launch a new rural postal life insurance scheme at a monthly premium of Rs.1.25 for the rural people, Minister of State for Communications and IT Jyotiraditya Scindia said.


3. Insurance Hall of Shame 2008

The Coalition Against Insurance Fraud's Hall of Shame of Washington, USA reveals the previous year's largest, most-brazen or dumbest insurance schemes. Insurance fraud is an $80-billion crime annually, and has grown more violent and invasive in recent years. The No-Class of 2008 reflects that trend.

4. Reinsurers to increase prices by double digit

Reinsurance companies such as global leader Munich Re have been predicting that the damage to insurers' investment income and capital base from the financial crisis means they have to pay more for cover as reported by Insurance Journal


5. Cars injure 841,000 people a year - without crashing

As published on the consumer insurance information blog of Renaissance Alliance, USA, new Not-in-Traffic Surveillance study sheds light on the numbers and types of injuries that occur as a result of non-crash related accidents, statistics that hadn't previously been tracked. Annually, auto-related non-traffic accidents are estimated to cause 1,747 deaths and and 841,000 injuries, according to the National Highway Traffic Safety Administration, which conducted the study.

Here are some of the study findings, as reported by the Consumer Reports Car Blog:

· More than half of the non-crash fatalities in the study occurred when a vehicle fell on a person who was under it or from unintentional carbon monoxide poisoning
· About 20 percent of the non-crash injuries involved slamming fingers or other extremities in a car door or trunk, or resulted from overexertion when loading or unloading a vehicle or pushing a disabled vehicle
· Across all types of tragedies, about one-third of those injured and about half of those killed were not inside the vehicle at the time
· Other common hazards included vehicle fires, anti-freeze and battery-acid burns, and falling from a vehicle
· A significant 221 deaths, and 14,000 injuries resulted from pedestrians being backed over by a vehicle

Thursday, February 5, 2009

National Knowledge Commission Launches Online Contest

NKC's recommendations have been crafted to achieve the objective of tapping into India's enormous reservoir of knowledge, mobilising national talent and creating an empowered generation with access to tremendous possibilities for the 550 million youth.

To accelerate the process of reform and to create a groundswell of public opinion, NKC invites everyone to Online Contests.

Contest Period: 1 February – 1 March 2009
Categories: Film, Debate and Essay

Film Topic: Make a short film (not exceeding 6 mins)
1) How can I make a difference in transforming India

Debate Topics: Give your opinions in video format (not exceeding 4 mins each)
1) India will realise its demographic dividend in the next 15 years
2) Vocational education and training courses should be introduced in all schools

Essay Topics: Write your views (not exceeding 2000 words each)
1) How can India unleash its innovation and entrepreneurship potential?
2) Expansion, excellence and inclusion – the three challenges of the Indian education system

Important Dates
Contest Begins: Feb 1, 2009
Contest Closes: March 1, 2009
Results Declaration: March 10, 2009

Prizes
Winners get to meet Mr. Sam Pitroda
Cash Prizes of more than INR 1.5 lakhs
Certificates to first 500 entries

Log on to http://knowledgepor tal.in/contests to participate

Saturday, January 31, 2009

Insurance Authorship Promotion Programme (15 April to 15 June 2009)

ALMA MATER LIBRARY hereby offers extensive use of the library resources during 15 April to 15 June 2009 under the captioned programme.

OBJECTIVES: This Facilitative Programme is expected to enable participants:

1. To write/create/contribute for an insurance industry through an article, Project Report, Case studies, research paper, Synopsis, Ph.D. Thesis and so on.
2. To refer as many documents available with the library.
3. To experience academic environment for authorship/ research work.
4. To use library infrastructure facilities available at the Academy Library.
5. To create qualitative documents to be used by the future generation.

Participants’ Profile: Who wish to write/contribute for the Industry.
Seats – Only 20 on first come first serve basis.

Duration: Suitable days during 15 April - 15 June 2009.
Registration: Upto 31 March 2009
Coordinator: S. B. JOG Sr. Administrative Officer and Mrs. B.J.SANE, Chief Librarian
Participants are requested to bring Identity Card/Driving License/copy of residence proof.

Facilities Available -
1.Residential Accommodation: Rs. 300/- per day on sharing basis at ‘Sarvapalli’ Hostel. [Check –Out time is calculated on the basis of 24 hours from the arrival time. The stay extended for more than 6 hrs. after that will liable to pay charges for next day] Laundry services are available on payment. Incidental expenses like cost of telephone calls, etc. will have to be borne by the participants on actual basis.
2. Boarding: Boarding facilities Rs. 200/ day includes Morning Tea/coffee, Breakfast, evening tea/ coffee, Lunch, light refreshments in the evening and Dinner at Sarvapalli Dinning Hall.
3. Library Facilities: Participants may avail reference facility during the library hours i.e. 9 a.m. to 9 p.m. from Mondays to Saturdays except NIA holidays. Other facilities like photocopying and printing will be subject to copyright and will be charged separately as per the library practice.

Please get ‘Nomination Form’ for ‘IAPP 2009’ programme kindly send email.

Thursday, January 29, 2009

Risk Reports Published

Following two Risk reports are now available:

India@ Risk 2008

World Economic Forum’s Global Risk Network launched the India @ Risk 2008 report, in the lead-up to the India Economic Summit in New Delhi, India, 16-18 November 2008. The report, prepared in conjunction with the Confederation of Indian Industry (CII), presents the latest insights into trends, potential consequences and mitigation strategies relevant to key risk areas facing India:

• Economic Security: how the global financial crisis is likely to affect India and how the country will manage the current financial turmoil
• Energy Security: considering means by which India can improve its energy supply network and become a low carbon economy
• Agriculture and Food Security: improving agricultural productivity, addressing the problem of malnutrition and managing water resources
• National Security: how India can establish itself as a force for stability in the region and contain and address internal sources of instability

In preparing this report, experts and policy-makers from business, academia and non-governmental organizations were interviewed about what they consider to be the keys to India’s future growth, which risks might pose threats to progress, and how those risks might be mitigated.

Global Risks 2009


On 13th January 2009, World Economic Forum also published Global Risks 2009 , which identifies deteriorating fiscal positions, a hard landing in China, a collapse in asset prices, gaps in global governance and issues relating to natural resources and climate as the pivotal risks facing the world this year.

Published in cooperation with Citigroup, MMC (Marsh & McLennan Companies), Swiss Re, the Wharton School Risk Center and Zurich Financial Services, the report is based on a qualitative assessment of global risks, workshops and input from business leaders and experts consulted throughout 2008. This is the latest in a series of annual publications of the World Economic Forum and its partners in the financial services industry. Last year’s report accurately warned of an imminent systemic crisis in the financial sector as well as volatility in the energy market and food shortages.

Both the reports are available to users for download.

Saturday, January 17, 2009

Effects of research findings on Insurance

The insurance is vast subject considering various aspects it deals with our day-to-day life. Any new research findings may have direct or indirect impact on insurance if not immediate effect but in future. Few are listed below:

1. New device for jamming cell phones while driving:
Many people have habit of speaking on phone while driving which may lead to dangerous situation and calls for attention of motor insurers as well as life insurers. To avoid such situation, University of Utah researchers have created a car ignition key that prevents teenagers from talking on cell phones or sending text messages while driving

2. The oral hygiene affects heart disease:
One study suggested people with poor oral hygiene are more likely to suffer heart disease, which of course increases your probability of an early death… which impacts directly on life insurance!!

3. Mental Health Deteriorates During Recession:
New research in the United States and Europe has found that economic conditions directly affect the quality of mental health.

4. Insurance Market fails Women:
Research done by National Women’s Law Center (NWLC), Washington DC shows that insurance companies can refuse to sell women coverage due to any health history, and often charge women drastically higher premiums than men. In addition, the coverage is frequently both exorbitant in cost and limited in scope – often failing to cover women’s specific needs – such as maternity care.

Thursday, January 15, 2009

Education through open access: Open Educational Resources

The open access movement also plays an important role in education field now days, which will be benefited for society as everyone gets equal opportunity for free authoritative standard education. Internet has made great impact the way, people access and share information. This has resulted in increase in Open Educational Resources (OER). In this area ccLearn, which is a division of Creative Commons is dedicated to realizing the full potential of the Internet to support open learning and open educational resources. They have multiple projects, resources, publications etc. available on their websites useful for the organizations and people working in the area.

The latest publication mentioned on their website is titled as The Way Forward: Deliberations of an International Community of Interest by D’Antoni, Susan. UNESCO Feb 2008.

This document is a testament to the power of group deliberation in a vibrant virtual community. It presents the way forward for OER based upon the informed opinion of an international community, and sets out priorities for future action. It will be of interest to many readers from decision and policy makers at the national level to teachers and academics at the local level.

Monday, January 5, 2009

Best wishes for New Year

Dear Users,

We wish you a very happy, prosperous and peaceful New Year to all.

The AML Holidays List for 2009 is now available for your ready reference, as library will be closed on these days and on Sundays.

Also the latest newsletter issue for January 2009 is now published which is devoted to the ‘victims’ of said acts of terrorism, which caused deaths and injuries to hundreds of innocent people and damage to valuable assets. In view of relevance to the Insurance business, News Coverage in detail is focused in the contents. With reference to terrorism risk, comments on various types of insurance covers and insurance company strategies during next few years will be helpful to our readers.

Your comments are most welcome.

Alma Mater Library