Exec Promotions at GEICO, Selective

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I&T Daily Friday, August 16, 2013

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TODAY'S TOP STORIES Selective Adds Information Security and Management Execs By Nathan Golia The insurance company has promoted two members of its IT staff to the VP level. READ MORE GEICO Appoints VP of Claims By Zarna Patel GEICO names Ryan West vice present of claims at the corporate headquarters office in Md. READ MORE Microsoft Expands Surface Tablets To New Markets By Michael Endler Microsoft has expanded its Surface line to channel partners in 17 new markets. With Windows 8.1 coming and Windows XP going, Microsoft hopes the push will turn things around for its struggling tablets. READ MORE COMMENTS OF THE WEEK Posted by sapplebaum021 As further revealed in upcoming Aite Group research from P&C insurance analyst Pat Speer, disintermediation of auto insurance distribution through telematics and UBI is no longer just a threat - it is a reality. And the players are not just the many startups we are seeing. Well capitalized and hungry innovators such as SiriusXM as well as OEMs and others focused on the Millennials and additional revenue sources are all jostling for position. And their interests may go beyond just vehicle information services. Personal lines carriers should pay very close attention to protect the very core of their business. In reply to: Could Sirius XM be a Telematics Insurance Partner? (2) By Nathan Golia Posted by opnmnd I have been involved in UBI for a few years and have been greatly concerned over the hype. We as executives need to beware the hype on all "cutting edge" or "market changing" technologies. Listen to who is delivering the message and then do your due diligence to see what their stake is in it before we buy in. In this case Progressive, a company that has shown the industry the importance of big data, is heavily embedded financially in the technology. The primary rating benefit to UBI is really accurate mileage, and then around the edges is driving behavior and things like time of day. For those who are familiar with rating plans, you will understand that the impact is marginal on the end premium, and while the impact on a large book, such as Progressive's maybe significant, to a smaller regional carrier, it may not be... In reply to: Progressive Finds Telematics a Hard Sell (3) By Nathan Golia Manage Your Newsletter Subscription Keep Getting This Newsletter Add FTNNewsletters@techweb.com to your antispam whitelist Did someone forward this newsletter to you? Receive your own free issue. You are subscribed as EmailAddress To unsubscribe, click here | Privacy Policy. I&T Daily A free service of Insurance Tech Copyright © 2013 United Business Media Limited 240 West 35th Street | New York, NY 10001