Business process outsourcing solutions provider BISYS (New York) has released producercontracting.com, an Internet-based solution designed to automate the process by which insurance companies complete contractual agreements with producers. In addition to automating the contracting process, producercontracting.com can collect additional data, including the information required to complete producer background checks and appointments, and other company-specific data.
Toronto-based National Life Assurance of Canada launched an online service for its brokers to submit and process universal life insurance applications using the xpertBridge product from Allfinanz Inc. (Richmond, VA). The xpertBridge solution allows manufacturers and distributors of insurance, investment and other financial services products to process application and fulfillment of products across multiple channels-agents and brokers, bank branches, call centers and the Internet. Using xpertBridge within its overall online delivery system, National Life's brokers can invite clients online to quickly gather data required to submit, process and underwrite an application for universal life insurance. The integration of a third-generation underwriting engine enables simpler and more rapid purchase of insurance by customers, according to the vendor.
E-commerce technology provider eReinsure.com (New York) has passed the 5,000 mark for the total number of reinsurance submissions presented on its online negotiation platform. The submissions originated from four major carriers and involve various lines of property and casualty reinsurance. Fourteen insurance and reinsurance companies, as well as reinsurance intermediaries, use the eReinsure platform.
Anthony O'Donnell has covered technology in the insurance industry since 2000, when he joined the editorial staff of Insurance & Technology. As an editor and reporter for I&T and the InformationWeek Financial Services of TechWeb he has written on all areas of information ... View Full Bio