State Auto Expands into New Markets and Keeps Pace with Technology, Fueled by CSC’s Software
[ Source: CSC ]
March 2006-
Over the past decade, State Auto’s growth was fueled by four acquisitions – Milbank, Midwest Security, Farmers Casualty and Meridian insurance companies. The last acquisition, which was migrated to CSC’s Series II system in 2005, pushed State Auto above the million-policy mark, boosting revenues to more than $1 billion in P&C premium. Now more than 3,200 independent agents in 27 states throughout the Midwest and Southwest are doing business with State Auto. The company wanted ....
GE CyberComp Launches Insurance Business in 30 Days with CSC’s BPO Solutions
[ Source: CSC ]
March 2006-
GE CyberComp, a division of GE Commercial Insurance, needed to restart a successful workers’ compensation portal, under new ownership, with the ability to conduct business in every U.S. region – in 30 days. GE CyberComp opted for CSC’s business process outsourcing (BPO) services to provide customer service, policy administration, billing and technology support. The company issued its first policy 30 days after acquisition, sold 3,000 new policies within six months, and had $200 million ....
Southern Farm Bureau Casualty Improves Services, Management Information with CSC’s Exceed
[ Source: CSC ]
March 2005-
Southern Farm Bureau Casualty Insurance Co., a $2.1 billion multi-line property and casualty carrier, was looking for ways to give agents, and ultimately policyholders, immediate access to its insurance services. The Mississippi-based carrier doing business in seven states faced a challenging technical problem. Information on more than 3.1 million policies was stored in separate systems, driving up IT costs for a variety of tasks, such as management reporting and regulatory compliance, and making them difficult ....
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 ....
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 ....
Guidewire BillingCenter
[ Source: Guidewire Software ]
May 2007-
Guidewire BillingCenter is a complete billing system that enables insurers to implement more flexible billing models, increase billing accuracy and reduce leakage, and optimize float, while streamlining the
overall billing process.
The Top 3 Reasons Why You Need to Change The Way You do Billing
[ Source: Guidewire Software ]
February 2008-
The Top 3 Reasons Why You Need to Change The Way You do Billing
Nevada General Insurance Company & The Diamond Data Warehouse from Insuresoft
[ Source: Insuresoft ]
May 2008-
Managing data became an integral part of why Nevada General Insurance Co. (NGIC) selected The Diamond System from Insuresoft as their policy processing insurance software system. Not only would Diamond help process NGIC’s policies, handle claims, billing and rating, but Diamond also provided NGIC with a central repository for data that would house past and future transactions in one area – The Diamond Data Warehouse.
New Policy Admin System Shines Bright for Buckeye Insurance
[ Source: Insuresoft ]
June 2006-
Buckeye Insurance Group had spent 20 years enhancing its legacy system, and its problems and limitations were becoming obvious. Staffing (and turnover) was becoming a major issue. In September 2000, Buckeye went live with Insuresoft's Diamond 4.0. Within six months, data conversion for the personal-auto line was complete, and 10,000 policies were in the system.