BILLING AND PAYMENTS FOR MIDSIZE INSURERSBermuda-based Accenture, and SAP America Inc., Newton Square, Pa., have combined their respective experience in the insurance and software industries to create a pre-configured billing and payments management solution for midsize insurers. The new offering combines Accenture-built business content, core system interfaces, hardware and software platforms and implementation services with SAP's insurance billing and payments application, SAP Insurance Collections and Disbursements. According to Accenture and SAP, this product can help reduce the number of days it takes insurers to implement and configure a new billing and payments management system by an average of 30% to 50%.
EAGLE INVESTMENT UPGRADES EAGLE PT-PLUS
Eagle Investment Systems, West Hartford, Conn., has released a new version of its Eagle PT-Plus product, which is designed to help hedge funds and alternative investment firms handle all aspects of a participant's recordkeeping system, including income allocations, fee calculations, and tax processing. New features include access to aggregate tax methodology, integration with the Eagle Performance calculation engine, an update report package and a Microsoft Excel interface. The product can be locally installed or hosted via Eagle ACCESS, the firm's ASP service.
ONLINE ELECTRONIC RECORDS COMPLIANCE RESOURCE
Those struggling to understand electronic records management compliance now have a free, online resource developed by AXS-One Inc., Rutherford, N.J. The AXS-One Electronic Records Compliance Information Center (ERCIC) provides cross-functional information on topics such as records compliance management (RCM), e-mail and instant messaging management, electronic discovery, data retention and U.S. regulations segmented by industry, as well as links to other public information sources. The site, located at www.axsone.com/form_resource_ctr.shtml, will feature archived presentations, case studies, frequently asked questions, white papers, interviews, tips, checklists and Webinar transcripts from AXS-One.
EMONEYADVISOR ADDS ONLINE TRAINING SESSIONS
Multimedia learning sessions designed by New York-based Edulance Corp. have been incorporated into AdvisorPlatform, a wealth planning and client management tool provided by eMoney Advisor, Conshohocken, Pa. Previously, eMoney provided technology and sales training using online meeting and videoconferencing provider WebEx, Santa Clara, Calif. In an effort to expand training availability, reduce scheduling challenges, and provide managed learning capabilities to its growing user base, eMoney chose Edulence to complement its WebEx online training sessions.
RULES MANAGER FOR INSURERS
FINEOS Corp., South Portland, Me., has released FINEOS Rules Manager, a product designed to enable banks and insurers to implement business rules in simple language and notation. The tool can be implemented as part of the FINEOS enterprise product suite or as a standalone solution integrated with existing software systems. FINEOS Rules Manager can be used to store and access constant data, such as limits, product data, and reference tables, and provides the ability to respond to changing business rules through versioning when required.
SOFTWARE REDUCES AGENT PAPER LOAD
Insurance companies can reduce costs associated with the printing, handling and mailing of documents to agents with new software from Mobius Management Systems Inc., Rye, N.Y., ViewDirect TCM for Agent Extranets provides agents Internet access to documents such as declaration pages, billing invoices, claim reports, cancellation notices, company correspondence, production reports and commission statements. The product can be integrated with an insurance company's portal environment and customized to suit each user's requirements. It also provides the ability to view reports on-screen in the same format as the printed version, and save reports in any format, including spreadsheets.
WEB-BASED TOOL FOR PRODUCER LICENSING
Sircon Corp., Okemos, Mich., has released Producer Express, an on-demand Web-based service that enables carriers to manage electronic hiring and contracting packets between field office and home offices needed to bring new producers on board. These packets contain forms as intelligent documents created in HTML and are designed to resemble a carrier's paper forms. The documents move as a secure package electronically between the applicant, carrier and the state, with the ability to add secure electronic signatures. Each section locks after it is filled out and electronically signed, so the information cannot be altered.
AUTO AND LIABILITY CLAIMS OPTIMIZATION TOOLS
ClaimIQ, a San Francisco-based provider of claims decision optimization software for auto and general liability insurers, has introduced two new products. InsightIQ is a new module in the ClaimIQ suite that delivers deep claims analytics designed to help carriers refine and optimize organizational processes for reduced leakage. SubroIQ provides adjusters and recovery specialists with tools, information and predictive analysis technology designed to identify successful subrogation opportunities.
CONTENT MANAGEMENT COMPLIANCE SOFTWARE
Yaletown Technology Group Inc., Vancouver, B.C., has released CONSPECT Solution for Content Compliance, a product designed to help insurers meet internal and external compliance requirements for managing their corporate content, including e-mail, instant messages, or electronic documents. The CONSPECT Solution for Content Compliance provides secure and auditable management of corporate records and communications; intelligent boundary protection for communications and intellectual property; policy creation, management and real-time enforcement; and business process management.
INSTEC SOFTWARE AVAILABLE VIA ASP
INSTEC, a Naperville, Ill.-based provider of rating and policy administration software, is making its products available through application service provider (ASP) hosting services. The services, which INSTEC is providing in partnership with Toronto-based MFX, will provide a pay-as-you-go pricing model for insurance companies and managing general agencies.
OFFSHORE 401(k) ADMINISTRATION SERVICES
Insurance companies that offer 401(k) plans can send their administrative record-keeping duties offshore to Patni Computer Systems Ltd., Mumbai, India, which is now offering Defined Contribution BPO Services. The service covers all facets of defined contribution plan administration, including: master maintenance, contributions, cash release, distributions, loan and hardship requests, check requests and compliance reporting.
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