RISK ANALYSIS

Palisade Corp., an Ithaca, N.Y., provider of comprehensive risk, decision, and data analysis software and training services, released @RISK5.0, a product that uses Monte Carlo simulation technology to perform risk analysis.

Under development for the past three years, RISK 5.0 was redesigned from the ground up to facilitate corporate-wide collaboration and model sharing. A new RiskCompound function, which combines distributions for insurance and other models, is designed to eliminate thousands of separate frequency and severity distributions by combining them into a single function. The new release also includes new Six Sigma functions that provide in-depth quality analysis. The product is designed to provide total and seamless integration with Excel via its completely new Office 2007-style interface.

SATYAM, SOFTWARE AG PARTNER ON FRAMEWORK

Software AG, a Germany-based global business infrastructure software provider, and Satyam Computer Services Ltd., a Hyderabad, India-based consulting and IT services company, announced the immediate availability of a new process framework for P&C insurers.

Used in conjunction with the webMethods suite from Darmstadt, Germany-based Software AG, the framework can help create customized solutions for auto insurance claims processing, report the companies. These solutions can be used by insurers to streamline workflow and improve utilization, automate core tasks and claims resolution, and monitor and enforce business and regulatory compliance.

Each process framework builds upon the flexibility offered by Software AG’s service-oriented architecture and business process management technology.

(c) 2008 Insurance Networking News and SourceMedia, Inc. All Rights Reserved.

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