Technology
New York Life Retirement Plan Services announced it has made significant enhancements to its plan sponsor and advisor web sites, providing clients a full overview of their plans' health at a glance.
Related Coverage Target Markets Survey Shines Light on Programs Coverage (11/02/11) Lighter Headwinds Buffet Brokers in Third Quarter (11/03/11) Honoring Worker Safety and Injury Prevention (11/01/11) 12 Executives to Watch in 2012 (12/01/11) Consumed With Risk (12/01/11) The enhancements take an "interactive dashboard" approach, showing all the most important information about a retirement plan such as total plan assets updated monthly, average and historical plan participation rate, average account balance, and investment allocation. Sponsors and advisors can also view this data for specific age ranges of participants, allowing them to gauge the behavior of different participant groups and the effectiveness of plan design features.
The Chubb Group of Insurance Companies has developed an online system to help agents and brokers obtain professional and management liability insurance for private companies and not-for-profit organizations. Chubb DecisionPoint automates the submission process for agents and brokers with small to mid-sized private company clients seeking crime, employment practices liability, fiduciary liability and miscellaneous professional liability insurance. Agents and brokers with small to mid-sized not-for-profit clients can access these coverages as well as directors and officers liability insurance through DecisionPoint. Directors and officers liability coverage will be added to the private company options in 2012. The online system also enables agents and brokers to refer more complex small and mid-sized accounts to a Chubb underwriter for further review.
Resources
The 2011 Lloyd?s Risk Index finds that despite record unemployment levels across much of the U.S., American business leaders say one of the biggest risks they now face is a talent and skills shortage. The study was carried out by the Economist Intelligence Unit, which polled 500 C-Suite and board level executives in North America, Europe, Asia and elsewhere to assess corporate risk priorities and attitudes around the world.
In response to state legislative requirements, Broadspire has launched its Workers Compensation Health Care Network in Texas. The Broadspire Workers Compensation HCN is a certified network that is part of Broadspire's state-stratified, multi-tiered BOLD Network. Broadspire has customized its network to each jurisdiction, rather than casting a wide net, producing superior penetration rates and savings.
Solutions
Moody?s Analytics, a leader in risk measurement and management, announced the launch of RiskAuthority, its next generation regulatory capital management solution. A comprehensive Basel I, II, and III compliance solution, RiskAuthority enables risk professionals to calculate, consolidate and report their organization?s credit, market, operational, concentration and liquidity risk.
myMatrixx announced today the release of myRisk Predictor, a risk-assessment tool designed to identify injured workers who are at high risk for potential abuse and misuse of prescription medications. myRisk Predictor combines predictive modeling with historical data and unique algorithms developed by the myMatrixx clinical team to develop a customized risk score for injured workers. This real-time tool alerts insurance carriers, third party administrators and self-insured entities when claimants within their populations may be in need of intervention.
January 17, 2012
Copyright 2012© LRP Publications
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