CSC's Java-based POINT IN J - End-to-End Policy Administration
[ Source: CSC ]
October 2008-
Long thought of as the 800 lb. gorilla in property and casualty insurance systems, CSC has demonstrated that it is a fast moving and agile 800 lb. gorilla. POINT IN J, introduced during Connect 2008, is CSC's Java-based end-to-end policy administration system that runs on Sun Microsystem’s Solaris operating system and Sun hardware. POINT IN J takes advantage of technologies not typically seen in the insurance industry and will appeal to both legacy insurers and ....
Cypress Property & Casualty Grows from Startup to Regional Carrier with CSC’s BPO Services
[ Source: CSC ]
April 2008-
CSC’s Business Process Outsourcing (BPO) operations provided full back office support for Cypress Property & Casualty Insurance including call center, billing, accounting, reporting and compliance. Behind the scenes, CSC’s property and casualty BPO operation uses CSC’s POINT IN software, the leading policy administration system for mid-sized companies.
Norwich Union Extends Processing to Brokers, Call Operations and Banks
[ Source: CSC ]
March 2006-
After a series of high-profile mergers, Norwich Union needed to consolidate large books of business on an administration system capable of processing 5 million policies. Rather than cobble together multiple legacy systems, Norwich Union talked to CSC about co-developing a Web browser-based administration system. Collaborating with Norwich Union and three other carriers in the United States, CSC invested three years and $28 million in CSC’s Exceed, an integrated set of software components designed to extend, ....
Western Agricultural Insurance Company Rapidly Launches Commercial Agriculture Insurance Product with CSC’s BPO Services
[ Source: CSC ]
March 2007-
The trend toward vertical integration of farming has created both challenges and opportunities for insurance carriers. Western Agricultural Insurance Company of West Des Moines, Iowa, saw an opportunity to introduce a new integrated insurance product for commercial agriculture, giving policyholders much greater flexibility than anything offered by competitors. Unfortunately, Western Ag’s commercial lines operations weren’t set up to support the company’s new initiatives. The company had grown through mergers, resulting in three different commercial-lines ....
Thélem assurances and CSC Join Forces to Develop the P&C Version of GraphTalk A.I.A
[ Source: CSC ]
March 2007-
Formed in 2004 from the merger between Assurances Mutuelles de l’Indre and Mutuelles Régionales d’Assurance, Thélem assurances needed to replace its administration system with a solution that was scalable to support business growth. The answer was to team with CSC to develop a P&C software solution based on GraphTalk A.I.A, which had a proven track record in the life sector. The result was increased flexibility, accelerated response time, enhanced communications and improved client management.
Taking Policy Administration System Transformation 'One Bite at a Time'
[ Source: Diamond Management & Technology Consultants ]
April 2008-
Most insurance carriers are placing policy administration system (PAS) transformation near the top of their to-do lists for the coming year, and many of these companies will expect a dramatic change in business results by moving PAS to the forefront of daily business operations. However, it is critical that carriers do not underestimate the operational challenges associated with replacing an existing PAS platform, because it will require changes to nearly every business process and technical ....
Cars and Trucks Are Talking: Why Insurers Should Listen
[ Source: Diamond Management & Technology Consultants ]
May 2008-
Automotive “telematics” such as event data recorders, global positioning systems, and other emerging innovations could save auto insurers $20 billion in annual claims payouts, or 17 percent of personal lines auto insurance losses each year. These savings will be the result of lower legal costs, more accurate insurance premiums, more efficient claims processing, fewer fraudulent claims, and new revenue from new monitoring and risk prevention services. But the road ahead presents challenges, too. ....
Decision Management for Insurance: Revenue-Generating Decisions Begin at the Point of Sale
[ Source: FICO ]
January 2009-
A new generation of technology solution—Decision Management—is bringing revenue-generating decisions to the point of sale with precision pricing and straight-through processing.
In this white paper, you'll learn how Decision Management can deliver deeper insights into risk exposure, enabling you to expand risk tiers, assign more accurate pricing and rapidly bring innovative products to new markets. You’ll also see how Decision Management can help you contain costs by allowing business users to implement business rule ....
Smarter Underwriting: New Strategies for Cost Control and Pricing Precision Using Decision Management
[ Source: FICO ]
January 2009-
Today insurance carriers are extending the efficiencies achieved through back office automation to point-of-sale (POS) decision making across all channels, including self-service websites, in-house sales and agent/distributor networks. New Decision Management solutions not only facilitate straight-through-processing, by improving the quality of inbound data, they also increase the accuracy, objectivity and consistency of underwriting and application decisions, even when business volume is rising rapidly. In addition, by providing deeper insights into loss risk, Decision Management enables ....
ILOG solutions for insurance
[ Source: ILOG ]
April 2006-
Policies, procedures and regulations dominate the insurance industry, but implementing them is a challenge. Today, a combination of manual and paper-intensive processes that are time consuming and inefficient, as well as hard-coded rules embedded in multiple systems that are difficult to change and maintain, are driving up costs for insurance companies. In the current environment, quotes or settlements can take weeks. Business logic or rate changes can take months. Introducing new products and ....