Following an implementation period of less than six months, AXIS Insurance (an operating segment of AXIS Capital Holdings, Bermuda) has gone into production with AdminServer's Property & Casualty Policy Administration System, according to a vendor source. AXIS Insurance is the first P&C customer of the vendor known for its presence in the life and annuities policy administration market.
The AXIS AdminServer includes an integrated broker portal for future online auto-rate and auto-bind business submission and tracking. The portal utilizes the vendor's Common Calculation Architecture, which provides the insurers with a common set of business rules for policy quotation, submission and processing. The Architecture provides for multiple systems access to the same set of business rules whenever possible to enable consistent calculation.
"We're very impressed with the flexibility of the AdminServer system and it's use of a rules-based model," says Raymond Karrenbauer, CIO, AXIS Capital. "The AdminServer solution was one of the few systems we found that could deliver the comprehensive support we required in regard to rapid deployment of new and innovative products."
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