Tag: insurance technology news

Faults with insurance technology has crippled exchanges in several states

Logan B.
online health insurance technology exchange

State officials come together to highlight the technology problems facing exchanges Officials from five different states are citing technology problems as the reason that their health insurance exchanges have failed to operate successfully. Representatives from Hawaii, Maryland, Massachusetts, Minnesota, and Oregon suggest that technical problems had made it nearly impossible for many people in their states to enroll for coverage through state-based exchanges. The technology behind these exchanges has been heavily criticized since the exchanges began open enrollment in 2013. Ongoing problems may have kept several thousand people from finding…

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Insurance technology dispute creates turbulence between Oregon and Oracle

Marc
Oregon Health Insurance technology

Dispute between Oregon and Oracle threatens the capabilities of Cover Oregon Acclaimed technology firm Oracle has been at odds with the State of Oregon regarding its health insurance exchange. The exchange makes use of technology that has been developed by Oracle and this technology allows the exchange to operate as it is meant to. The problem, however, is that Cover Oregon is not yet fully developed and state officials have called into question the viability of Oracle’s insurance technology. The tension between the state and the technology firm had reached…

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Auto insurance proof apps laws proving confusing

H. Cutner
electronic proof of auto insurance

Though 23 states say that proof of coverage can be shown via smartphone, they haven’t been without problems. There are now 23 states in the country that say that it is legal for drivers to use their smartphones to display proof of auto insurance if they are pulled over by a police officer, according to the data from the Property Casualty Insurance Association of America (PCI). This offers motorists a convenient way to make sure that they always have digital “card” on hand. The goal is to make it much…

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Finding the Golden Needle – What Big Data means to Insurers?

Rose Stuart
insurance technology

Insurance Technology Article: The phrase Big Data seems to have taken the technology world by storm this year. A year ago, many insurance company’s IT Directors, even CIOs were not aware of Hadoop; now it is becoming an industry standard at many carriers. But in reality big data is not new to the insurance industry. It continues a trend that probably started back in the 1970’s with the invention of policy administration solutions and other IT systems. What has changed in recent years is the velocity of data flow, the…

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Insurance technology initiatives used by today’s industry

Julie Campbell
Insurance industry standards and technology

These firms are acknowledging the importance of keeping up with current innovations for both operations and customer service. Today’s companies have not failed to notice that in order to remain competitive, they need to implement new and innovative forms of insurance technology that can help them to keep costs low, improve their accuracy, and appeal to consumers. Among the efforts along that line are the following: • Freeman Insurance Agencies are now using CSR24 by Applied Systems in order to offer their policyholders with online access to their coverage information…

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