Fair Isaac Allies with Millennium Info On Underwriting AnalyticsMinneapolis-based Fair Isaac Corp. has formed a strategic alliance with Millenium Information Services Inc., a property inspection and insurance underwriting process outsourcing company based in Itasca, Ill. The two firms will provide advanced underwriting analytics and automation to the property insurance industry. Fair Isaac has developed Property PredictR, an insurance score that leverages Millennium's comprehensive database of property inspection data. The score helps property insurers more accurately predict the amount of risk a property represents. The property score will be delivered to P&C insurers via Millennium's Automated Property System (MAPS), a platform for property processing.
Perot Systems To Acquire Technical Management Inc.
Perot Systems, a Plano, Texas information technology services provider to the insurance industry, will acquire Technical Management, Inc. and its subsidiary Transaction Applications Group (TAG), Lincoln, Neb., which provides full-service back office administrative and technical support to life, health and annuity providers. The acquisition will help Perot expand its transactional business process capabilities and add to its existing claim and administration processing capabilities in the healthcare sector.
Fiserv Acquires Administrative Services Group
Fiserv Inc. has acquired Administrative Services Group Inc. (ASGI), a Lexington, Ky., employee benefits plan administrator. The purchase of ASGI, which will operate as part of Fiserv Health, will allow the transaction technology provider to expand its share of the health benefits administration market. ASGI markets its self-funded services under the name Commonwealth Administrators LLC. The regional administrator provides single-employer, self-funded health plan administration primarily to companies in Kentucky and Indiana.
Vertafore Benefits, Silverplume Partner On Benefits Administration For Brokers
Vertafore Benefits, a Windsor, Conn., provider of software and automation services for employee benefits brokers, and SilverPlume, a Boulder, Colo., provider of electronic insurance and risk reference material, will partner to provide brokers with instant access to comprehensive information to help design and administer employee benefits and human resource programs for their clients. The agreement calls for SilverPlume's Benefits Library, which contains content-specific information on employee benefit programs and state and federal regulations and policies, to become an integral part of BenefitsCenter, Vertafore's benefits administration application for brokers.
Exstream, Prinova Team For Personalized Documents For Small To Mid-Sized Insurers
Extreme Software Inc., a Lexington, Ky., document creation and personalization software provider, has entered into a value-added reselling agreement with Toronto-based Prinova Inc., a provider of document design, development and delivery solutions. Prinova will offer Exstream's enterprise personalization software, Dialogue, to small and mid-sized U.S. and Canadian insurers at value-based price points scaled to the company's size. Insurers will be offered Prinova's integrated document design expertise and its specialized client care program, Novacare, which offers ongoing document evaluation and support.
McCamish And Magner.Net To Offer Non-Qualified Plan Generation And Administration
Two Atlanta companies, Magner.Network, and McCamish Systems, will partner to offer a non-qualified plan generation and administration solution for the financial services industry. Magner's advanced sales-enabling service with its plan design, training, financial forecasting and dynamic document creation will be integrated with McCamish's non-qualified record keeping platform and insurance product administration services to create a straight through processing solution in the non-qualified retirement industry.
Compliance Consortium, Open Compliance & Ethics Group merge
The Compliance Consortium, a Cleveland-based international membership organization formed in June 2004 to promote effective governance, risk and compliance management, has merged with the Open Compliance Ethics Group (OCEG), Scottsdale, Ariz., to create a new Technology Council that will provide information and best practices on using technology to manage areas of compliance, ethics, and corporate governance. The Compliance Consortium's nine member companies will be the charter members of the Technology Council, with current OCEG members immediately eligible to join.
