Connecting the Business & Technology Communities

Who said it?

In a sense, Solvency II is the Hurricane Andrew of the life insurance industry.

Story on page 8

November 2010

www.insurancenetworking.com

Winds of Change industry Priorities

Much like the storms they measure, catastrophe models are dynamic. Insurers must operationalize their updates to get the most from thier investment.

Page 18

Growing old Well

6is seeking new growth avenues or instead focusing on improving existing business the key to success for insurers?

Drilling Down

21

Carriers can leverage predictive analytics to extract patterns and salient insight from unstructured data.

A Risk Management
Reset for Life Insurers
By Bill Kenealy
>>BACK oFFICe

The momenTous oCCurrences of the last few years have been a potent reminder of the need for—and limits of—risk management. As the insurance industry segment most singed by the financial crisis, life insurers in particular have to fundamentally reassess their risk assessment practices.

in addition to new ways of gauging mortality and longevity risk, insurers will need to ac-

count for an array of risks emanating from outside the insurance industry. Just as insurers start to better manage these risks derived from the broader financial markets, a new class of compliance risks is emerging.

fortunately for risk managers, an ever-improving set of modeling tools will afford them both a broader and more granular view of the challenges they are facing.

Story on page 8

Policy Admin Systems:
Weighing the Options
By Doug Bartholomew

>>Cover s Tory

The quesTion of how best to upgrade a legacy policy administration system is still the subject of much debate.

To be sure, both the modernization and “rip and replace” approaches have their merits. Proponents of modernization claim that when it comes to policy administration, the continuity enabled by a phased approach is paramount.

Conversely, adherents of the total replacement approach say the flexibility needed to speed new products to market is only engendered by new, highly config-urable systems.