Tech Watch
POLICY PROCESSING
Duck Creek
Bolivar, Mo-Duck Creek has released Example TransACT, the latest addition of its Example Platform product suite. TransACT further extends the product life-cycle management capabilities of Duck Creek's Microsoft-based platform by offering Web-enabled policy administration for any line of business, the vendor claims. Using Duck Creek's Example Author, TransACT can be configured to support all rules, screens and workflow necessary to implement specific transaction needs.
PROCESS MANAGEMENT
Exigen Group
San Francisco-Exigen Group released the Exigen Insurance Process Backbone, an ACORD standards-based product that enables enterprise-wide business processes to be supported as a fusion of a customer's existing processes, systems, business units and distribution channels, the vendor says. The solution is designed to provide insurance operations with a foundation for straight-through processing and can address more than 150 cost leaks, which can account for as much as 80 percent of activity-based costs in insurance business processes, according to Exigen Group
DOC. MANAGEMENT
Xerox/Omtool
Stamford, CT-Xerox Corp and Omtool (Salem, NH) created a solution to scan hard-copy documents while simultaneously delivering the information to pre-selected e-mail, secure e-mail, fax and remote printer destinations via Xerox's WorkCentre Pro, and Document Centre systems equipped with Omtool's AccuRoute software, the vendors report. Applications sent by an agent to a carrier can be converted to PDF format and encrypted at the point of scan, then routed to multiple locations while conforming to the electronic transmission requirements of regulations such as HIPAA.
RATING
Priority Data Systems
Omaha-Priority Data Systems released PriorityRate NVision Home, a 32-bit Windows-based batch rating tool that allows subscribing companies to compare their rates against the competition in order to better understand their specific strengths and limitations in comparison to other carriers, the vendor claims. NVision offers variant-based statistical analysis of rating data by testing the effect of coverage "A" amounts, year built, construction type, protection class, deductible, roof type or other homeowners' rating factors.
POLICY ISSUANCE
Fair Isaac
San Rafael, Ca-Fair Isaac has released XML Manager for Insurance, version 2.1, based on Fair Isaac Blaze Advisor rules management technology. The new release supports the 1.2 release of the ACORD SPX standard and helps carriers and agents more easily capture and exchange insurance data for faster policy issuance and reconciliation. Release 2.1 now offers new functionality and ease of use for insurance companies, based in part on design and development contributions from The Hartford (Hartford), according to Fair Isaac.
LIABILITY MANAGEMENT
FinancialCircuit
Campbell, Ca-FinancialCircuit introduced MoneyFind, a liability management platform that analyzes, plans and executes liability solutions for clients on a single independent Web platform, using real-time market data. The solution generates multiple liability restructuring scenarios following a financial professional's entering a client's basic financial information such as income liabilities (mortgage, car loan, credit cards, etc.), tax rate, risk tolerance and other items on the MoneyFind Profile Web interface.
RISK MANAGEMENT
MapInfo
Troy, Ny-MapInfo Corp. has launched Insurance Decision Solution Suite (IDSS), a solution that enables insurers to look across all lines of business to better manage risk and graphically assess information about underwriting and risk management, the vendor says. IDSS enables proactive catastrophe management by utilizing geographic and demographic data to discover "hot spots" based on policy concentration. Hot spot analysis provides visual understanding of policy concentrations so insurers can put limits on risk in a specific area.
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
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