Insurance & Technology is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Policy Administration

10:03 AM
Connect Directly

XL Global Services to Consolidate Workers' Comp Business onto PCIS' CompVision

CompVision solution will support quotes, rating, policy issuance and transactions for all XL's workers' compensation business as of early 2012.

XL Global Services, a subsidiary of XL Group plc (Dublin) has selected P&C Insurance Systems' (PCIS, New York) CompVision as the single platform to support XL insurance workers' comp business for multiple XL carriers in all 50 states, Guam and Puerto Rico. Scheduled to go live in early 2012, the CompVision solution will support quotes, rating, policy issuance and transactions, and both NCCI and non-NCCI reporting.

By consolidating all of its workers' compensation business onto CompVision, XL will enjoy the following benefits, according to a vendor statement:

- Improved IT and business operational efficiencies; - Significantly reduced user manual interaction to issue a policy; - Policy issuance in a fraction of the time currently required; - Easy access from any location to current and accurate rates and information; and - Advanced support for large deductibles, retrospectively rated policies, wraps ups and professional employment organizations (PEOs).

"We did an extensive market search and early in our process determined that we wanted a vendor that really understood workers' compensation and a solution that was designed specifically to handle comp's unique requirements," comments Seraina Maag, XL Insurance chief executive, North America Property & Casualty. "Our actuaries were diligent in their evaluation and testing of the solutions under consideration, and they determined that PCIS and the CompVision solution were the best fit for us. We really put PCIS through the paces, including a three month proof of concept, and we couldn't be more pleased with the system as well as the expertise of the PCIS staff."

XL's Enterprise Technology and Strategy Officer, Robin Arendt adds, "Not only was CompVision a functional fit for us, but the technology and integration capabilities were also a good complement to our IT strategy and vision. With all of our workers' compensation business supported on a single system, we can maximize the benefits for our users and take advantage of the IT operational efficiencies."

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

Register for Insurance & Technology Newsletters