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Sponsored by Mapinfo
Welcome to eNews!
Welcome to the August 17th edition of Tech
Decisions' eNews! Every two weeks we bring you the latest essential
information for technology and business decision-makers at insurance
organizations. If you're a CEO, CIO, CTO, or think you ought to be one, this is
the place to get the information you need--from key developments relating to
critical industry solutions providers to news briefs from the carrier front as
well as highlights from the current issue of Tech Decisions magazine. As
a publication of The National Underwriter Company, Tech Decisions is a
part of more than 100 years of expertise in insurance publishing,
information, and communication.
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“The ability to provide AAIS programs electronically
in our systems is going to deliver more processing efficiencies for our clients
that will improve their policy cycle times and help increase speed to market,”
says AQS. The policy administration solutions provider to the property/casualty
industry has reached an agreement with the American Association of Insurance
Services (AAIS) to offer in AQS systems AAIS forms, rules, and rating
information for farm and inland marine.
For more on the expanded information now available and how it
promotes straight-through processing, click here.
With its origins in selling computer systems and
administrative services to small health insurance companies, Antares Management
Solutions has evolved to offer a diversified product line, which includes
information technology and business processing to companies in a variety of
industries. The purchase of GeniSys will allow Antares to enhance its product
line while expanding business into new markets.
Click here for more on the specifics of the deal and the impact
on the companies.
In an effort to bolster its arsenal of underwriting
solutions and improve carriers’ processing and document administration workflow
capability, ISO has acquired eLIENS from technology and services company Xtria.
“eLIENS service automates the tedious, expensive, and time-consuming task of
processing notifications more accurately and efficiently,” says ISO.
For more on the services offered and how they help reduce costs,
click here.
In a marketing agreement that will allow Prinova,
Inc., to expand its offerings to customers in the insurance, financial
services, and healthcare markets, Prinova will offer MDY Advanced Technologies
Inc.’s advanced records management software as part of a solution set for
managing complex document challenges. Prinova provides document design,
development, and delivery solutions; MDY offers records and information
management systems and software.
Click here for more on how this partnership can address critical
privacy and compliance issues.
“Our customers were searching for a way of
communicating requirements throughout their organization that would be easy to
understand and apply,” says CCH Insurance Services. To fill that need, CCH has
released eight new AuthenticWeb Matrices covering various life insurance policy
administration compliance requirements that summarize key regulatory issues.
For more on how these summaries and analyses help users to
determine what is required for a specific concern, click here.
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Quick Stat
Share the Wealth
In a recent study on global wealth management IT spending, Celent
reports insurers will spend $2.4 billion on technology this year, an increase
of 23 percent compared with 2004. North America accounts for 42 percent of this
spending.
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Features & Columns
Feature
Peak Performance
by Robert Regis Hyle
If your company is like most insurance carriers, you are using
only 30 percent or less of the computing capacity of your desktops. Grid
computing links those computers to harness their unused power to race through
complicated actuarial models in a fraction of the time previously needed.
For more on getting the most out of the technology you already
possess, click here.
Feature
Where Credit Is Due
by Robert Regis Hyle
Predicting loss in personal lines insurance is a risky business,
but carriers have found a tool to offer lower rates to customers who rarely
file claims while making those who do file claims pay their fair share.
Insurance scoring—based on credit records—may confound some consumers (and
departments of insurance), but it makes perfect sense to carriers.
Click here for more on insurance scoring and tools that can
improve underwriting and rating.
Feature
Developing Developers
by Paul Rolich
It’s nine o’clock. Do you know what your developers are doing?
For more on how to get the best results from your developers,
click here.
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