Insurance

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/Insurance

Social media users warned of insurance hikes

People who use social media tools that can reveal their location, such as Twitter, Facebook, Foursquare and Buzz, could face hikes in home insurance premiums, according to price comparison site Confused.com.

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Lloyds sells 70% esure stake to founder Wood

Lloyds Banking Group has agreed the sale of its 70% stake in esure to the online insurer's founder and chairman Peter Wood for around £185 million in cash.

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More Th>n launches car crash app for iPhone

UK direct insurance outfit More Th>n has developed a Car Claim iPhone application that helps motorist capture third-party details at the scene of a traffic accident.

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Tesco Bank creates 1000 customer service jobs

The banking arm of UK retailer Tesco is creating 1000 jobs in Newcastle with the opening of a new customer services centre.

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Zurich loses personal data of 51,000 UK customers

The UK arm of insurance giant Zurich has lost a back-up tape containing the personal data of around 51,000 customers.

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Insure.com name and site sold for $16m

A US insurance broker has sold its insure.com corporate and domain names, and related "media assets", for $16 million to marketing outfit QuinStreet.

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Lloyds cuts 200 insurance jobs

Lloyds Banking Group is cutting 200 back office positions at its general insurance unit, taking the total number of jobs axed this year to 7500.

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RSA expands Accenture application outsourcing deal

UK insurance group RSA has expanded its application outsourcing agreement with technology consultancy Accenture.

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Tesco and Fortis in insurance talks

UK supermarket chain Tesco is continuing to ramp up its challenge to traditional banks, entering into exclusive discussions with Fortis over a partnership to provide motor and household insurance.

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Aviva Australia introduces voice biometrics

Aviva Australia has rolled out voice biometric authentication technology from Salmat VeCommerce in a bid to improve customer security and communication.

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Aviva malware infection exposes US customer details

Insurance group Aviva has written to 550 customers in the US warning them that their personal data may have been exposed as a result of a malware infection on one of the firm's computers.

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Laptop containing pension details of 109,000 stolen

A laptop containing the unencrypted personal details of 109,000 Pensions Trust members has been stolen from the offices of HR software and services provider NorthgateArinso.

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Co-op contracts with Finacle for core banking overhaul

Co-operative Financial Services has selected the Finacle universal banking system from Infosys to replace its legacy technology infrastructure.

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Legal & General launches online POS system

UK insurance firm Legal & General has launched an online point-of-sale system that enables its advisers to manage their own cases from start to finish.

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Aviva inks £700m data centre management deal with EDS

UK insurance group Aviva has inked a 10 year, £700 million contract with US IT services firm EDS for the management of two UK data centres.

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AXA names Capita preferred bidder for £500m outsourcing deal

French insurance group AXA has chosen Capita as preferred bidder for a pensions administration outsourcing contract worth £500 million, in a move union Unite says puts up to 350 UK jobs at risk.

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Satyam loses State Farm Insurance contract

Satyam Computer Services has had its IT outsourcing contract with US-based State Farm Insurance terminated in the wake of revelations about a $1 billion accounting fraud at the Indian firm.

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Global financial services tech spending to fall - Celent

Global IT spending by financial services firms will slip 1.3% in 2009, to $353.3 billion, as firms tighten their belts during the economic crisis, according to Boston-based analyst Celent.

/Insurance

Steria wins Capita outsourcing deal

Steria has won a five year deal with insurance outsourcer Capita Life & Pensions to provide offshore IT application development and support services for the company's clients.

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FSA probe raises the bar for financial comparison Web sites

A Financial Services Authority (FSA) review of insurance comparison Web sites has found that many sites have made significant improvements and are consistently providing clear, fair and not misleading information, but some firms need to go further to address a few specific concerns.