Life Insurers
Gearing Up
Mobile Efforts
Nine in 10 life insurers surveyed recently
are meeting producer demands with mobile
technology initiatives, according to a new re-
port issued by LIMRA, a research, consulting
and professional development organization.
The report, “Mobile on the Move: Reaching Insurance Stakeholders Wherever They
Are,” is the result of an examination of
the mobile initiatives of 53 life insurance
companies in the United States and Canada,
and what they are doing to integrate mobile
devices into their business model.
A quarter of those surveyed listed producer demands as the top reason for adopting mobile technology into their business
strategy. Already, almost a third of companies
have some sort of mobile initiative in place
and another 30 percent plan to launch a mobile program specifically for their producers
within the year, says the report.
Most companies are evaluating the integration of this technology into their sales and
prospecting processes. Producers—especially
those marketing to younger generations—are
demanding mobile support from carriers. Earlier LIMRA findings support this: the number
of producers using mobile devices in their
practices nearly doubled from 2008 to 2010.
HealtH insurance
Bending the Health
Care Cost Curve
Standing between a tide of rising of health care costs
and increased regulatory and public sensitivity to premium increases, health insurers are not in an enviable
position.
Horizon Blue Cross Blue Shield of New Jersey has
birthed a new company, Horizon Healthcare Innovations
(HHI), which is dedicated to fomenting a paradigm shift
that results in a health care system that delivers better
care at dramatically lower costs.
Armed with $40 million funding for its first year, HHI is
collaborating with physicians, hospitals and nurses
to make the accountable care organization model
viable in New Jersey. A large part of HHI’s endeav-
ors revolve around strengthening primary care
practices in the state. “Primary care in New Jersey
is in crisis,” Kevin Maher, director, clinical innova-
tion, told attendees in February at a roundtable
discussion at the HIMSS12 Conference in Las Vegas.
ProPerty/casualty
Electronic Proof of Coverage Grows
More and more states are pushing to allow their citizens to show proof of insurance electronically during
traffic stops and registration, according to the Property
Casualty Insurers Association of America (PCI).
PCI reports that the Idaho Senate Transportation
Committee unanimously approved a measure (SB
1319) giving drivers the flexibility to show proof of
coverage electronically with a smart phone. Similar
bills are under consideration in Arizona, California,
Mississippi and soon, Maryland.
“State legislators and regulators are beginning to
update laws to recognize the increasing prevalence of
technology by allowing insurers to provide policyholders with electronic ID cards. That little piece of paper
will still count, but it will no longer be the only option
motorists have to show they have auto insurance,” says
Alex Hageli, PCI’s director, personal lines policy. “
Electronic display of proof of insurance will save insurance
companies the cost of printing and mailing ID cards
to policyholders. It will also save law enforcement
and court personnel time and money
because they will no longer need to
process tickets written to drivers who
had coverage but forgot to put that little
piece of paper in the car.”
All states except New Hampshire
and Tennessee require drivers to carry
liability insurance to cover other driv-
ers in an accident. Of the more than
56 million traffic violation cases filed
in state courts in one year alone, notes
the Court Statistics Project, drivers had
to show proof of insurance coverage at
each one of the associated traffic stops.
“Legislation like the measures
under consideration in Arizona and
Idaho are a win-win situation because
insurers and customers retain the flexibility to use paper ID cards or use an electronic device. It is all about
having choices,” says Kenton Brine, PCI, AVP.
Legislation and regulations for allowing electronic
proof of insurance for registration also exist in Alabama and Colorado.
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march/aPriL 2012 insurance networking news ;
