Insurtech

The latest insurtech trends and technologies, and their applications across the insurance industry.

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The Path to Automated Underwriting

While long a goal of it, only in recent years has automated underwriting become feasible from a technical sense. The result wasn’t the elimination of underwriters; it was streamlined underwriting operations that, when used in the field, shortened the process to rate, quote and bind certain risks from 30 days to less than 15 minutes.

Teva and Takeda Settle Generic ACTOS® and ACTOplus met® Litigation

Teva Pharmaceutical Industries Ltd. announced today that it has entered into an agreement with Takeda Pharmaceutical Company Limited to settle patent litigation related to Teva’s generic versions of Takeda’s ACTOS® and ACTOplus met® for the United States. The brand products had combined annual sales of approximately $4 billion in the United States, based on IMS sales data. About Teva.

Pepex™ Awarded Qualifying Therapeutic Discovery Project Grant

ST. LOUIS, Dec. 21, 2010 Today, Pepex Biomedical, Inc. announced that the company has been awarded a grant of $244,479.25 under the Qualifying Therapeutic Discovery Project created by Congress as a component of the Patient Protection and Affordable Care Act of 2010, the major health care reform bill, signed into law by President Obama on March 23, 2010.

Auto-Owners Insurance Wins J.D. Power And Associates Award

Dec. 22–MOULTRIE — Auto-Owners Insurance is ranked highest in customer satisfaction with the auto insurance claims experience by J.D. Power and Associates for the third consecutive year. Auto-Owners Insurance is ranked highest in providing a satisfying claims experience, and scored 902 out of the 1,000 point scale J.D. Power and Associates uses for the study.

Leading RIA Firms Rely on Advent’s Wealth Management Platform

http://www.advent.com — Advent Software, Inc., a leading provider of software and services for the global investment management industry, announced today that 36 of the 50 largest fee-only U.S. registered investment advisors are Advent clients, including eight of the top ten, according to the latest RIA Database Top 50 Report.

Leading Analyst Firm Positions Tata Consultancy Services in the Leaders Quadrant for SAP ERP Implementation Services, North America

MUMBAI, India, Dec. 23, 2010 Tata Consultancy Services, a leading global IT services, business solutions and outsourcing firm, today announced that it has been positioned by a leading industry analyst firm, Gartner, Inc., in the leaders quadrant for the recently published ‘Magic Quadrant for SAP ERP Implementation Services, North America’ report.

CSC Licenses Wealth Management Accelerator Software to Nationally Ranked Life Insurance and Annuity Carrier

The Computer Sciences Corp. issued the following news release: CSC today announced that one of the nation’s top 10 life and annuity providers, as ranked by AM Best, has licensed CSC’s Wealth Management Accelerator software that simplifies information technology maintenance by providing a single comprehensive administration system for both asset accumulation and disbursement.