Seeking to simplify its IT connectivity with its independent agent distribution force, Fireman's Fund has awarded BearingPoint (New York) a contract for the implementation of GlobeNet Technologies' (Scottsdale, Ariz.) Firestorm Compensation solution.
Fireman's Fund will use Firestorm to support agency administration, agency business planning and incentive compensation management, according to a company statement. The agency management system will provide the Novato, Calif.-based, multiline P&C carrier with more comprehensive, real-time agent data, enabling the company to better manage its independent agency network, conduct the business planning on both agent and enterprise levels and automate the agency compensation process, the statement said.
The insurer picked BearingPoint for the initiative based on a previous relationship and the success of an earlier development project, according to Fireman's Fund spokesman John Kozero. "In looking for a partner on the initiation of the agency management effort, BearingPoint exhibited business and industry expertise, as well as technology development delivery," he says. The consultant also demonstrated leadership in defining scope and direction of the project, according to Kozero. "At each phase of the project the positive results of earlier stages led to a growing interest in continuing the development partnership."
The Firestorm solution was chosen after consideration of several different vendor product offerings, including live demonstrations against a specified script. "Firestorm simply provided the best business fit for Fireman's Fund against our criteria," Kozero says.
Key components of the solution are integration of identification of the insurer's agencies, development of business plans across all aspects of the business represented and compensation appropriate to achieving business results, according to Kozero. The implementation will "enable Fireman's Fund to present itself as an integrated company for all areas of our business: commercial, personal and specialty," Kozero comments. "We will also value integration of the business planning process with our agencies - in fact, the agency management system provides a Web-based foundation for business now, as well as a technological foundation that will be leveraged and extended in the future."
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