Houston-based Comercial America Insurance Co. ($20 billion in annual written premium) implemented ICICI Infotech's (Edison, N.J.) PREMIA 10.0 solution to manage its book of P&C business on an enterprise-wide level, through a BPO services package. "We wanted an insurance system solution that had been built to support large and complex operations and that also had the pricing and BPO flexibility that would be attractive to our smaller current operation," says Luis Bordes, president, CAIC. "PREMIA will enable us to provide our producers with technological tools not currently deployed in our business space."
Above and beyond the competitive advantage that the addition of such tools affords, Bordes adds, the availability of PREMIA is helping advance stalled business initiatives that other system solutions could not adequately support. Also, the implementation of the solution will deliver new efficiencies to CAIC. "By integrating general ledger accounting, reinsurance management, policy administration and claims administration in one software package, we expect productivity benefits at the staff level in excess of 15 percent," he says.
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