P&C WEB-BASED BILLING
First Internet Solutions LLC (FIS), a Sheboygan Falls, Wis.-based provider of hosted, Web-based property/casualty processing software, reports the addition of Account Bill to its equip product suite of tools.
The comprehensive Account Bill application supports FIS' equip Policy Processing application or can be integrated to existing legacy policy systems. The company says the Account Bill application enables carriers to organize and maintain multiple policies across lines of business with different effective and expiration dates, making it easier for the insured to understand their billing statement.
According to the company, the system automatically assigns the account number and establishes the account relationship in the policy processing system with default values of direct, insured, full pay and cash. These values are easily maintained in tables, and can be modified by an insurer's accounting department.
IMPROVED POLICY ADMIN
Exigen Insurance Solutions Inc., a San Francisco-based provider of modern technology solutions to property/casualty insurers, released Product Factory, an enhancement to its PolicyCore policy administration solution. Using Product Factory, insurers can reduce product rollout and refinement times by over 70% on average, Exigen says.
The company says the enhancement adds built-in, easily configurable product development and management, and business experts can create and manage products with little or no IT reliance.
Additionally, its collaboration capability enables product stakeholders to monitor the entire product lifecycle. Insurers no longer need to shoulder the financial burden of buying and maintaining separate systems for policy administration and product development, the company says.
PolicyCore is part of Exigen Suite, Exigen Insurance's new end-to-end suite of modular policy, billing and claims core systems.
BUSINESS RULE MANAGEMENT
Sunnyvale, Calif.-based ILOG, an IBM company, has added new business rule management products to help enterprises more quickly analyze an ever-increasing flow of data, and make smarter decisions about their operations and the customers they serve.
ILOG says the new products provide insurance professionals with tools to make better decisions faster. For example, new features in the latest release of IBM ILOG's business rule management system (BRMS) enable managers, analysts, architects and developers to more easily develop and deploy business rules.
IBM ILOG BRMS also adds a new level of analysis to existing software that helps to automate these decisions, and allows businesses to customize and quickly adapt their business rules as the needs of the business change, the company says.
(c) 2009 Insurance Networking News and SourceMedia, Inc. All Rights Reserved.
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