Exigen Partners With Customer to Provide SaaS Core Systems Solution

Exigen Insurance Solutions will provide a full suite of core systems capabilities, delivered via software-as-a-service, to South Africa-based Hollard Insurance's Bank and Motor division. The solution, which incorporates Exigen's PolicyCore, ClaimCore and BillingCore components, is the result of a joint venture between the vendor's parent company Exigen Capital and Hollard to create a shared service "business process utility" (BPU) available to other insurers.

Exigen Insurance Solutions has begun implementation at Hollard's Bank and Motor division, and discussions have begun with other insurers whom the joint venture's BPU will be in a position to serve in 2010, according an Exigen Insurance Solutions source.

"Hollard has a reputation for innovation in both product and channel development. Supporting our business calls for an equally innovative technology approach," comments Nic Kohler, CEO, Hollard.' "We expect operating costs will be below industry average due to the transformational impact of the Exigen Insurance SaaS platform and the shared services delivery model."'

In Forrester Research's report "Hot Insurance Tech Companies to Watch in 2009," senior analyst Ellen Carney described Exigen Insurance Solution's offering as "a soup-to-nuts SaaS suite of applications and services designed to help P&C insurers reduce operating costs." Carney commented that the platform "increases the efficiency of [an] insurer's people, processes and technology resources," and called out as a key feature "an insurance product management tool that allows users to easily create and maintain insurance offerings with little or no involvement by IT, speeding time-to-market and revenue."

The Exigen Capital/Hollard joint venture offering "combines an advanced process outsourcing delivery model with access to an industry-leading core system suite provided by Exigen Insurance," remarks Exigen Capital Partner, Yuri Shtivelman.' "Insurers get the huge upside of being able to rapidly develop, launch and manage insurance products and their distribution, in addition to receiving the traditional outsourcing benefits of reduced and variable administration costs and improved business efficiency."

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