AML/FRAUD DETECTION SOFTWAREAMLOCK, an anti-money laundering (AML) and fraud detection software from 3i Infotech Ltd., a Edison, N.J.-based global provider of information technology solutions, is tailored for the insurance, banking and capital market intermediaries (brokerages, mutual funds and registrars). The company plans to target AMLOCK at the insurance vertical in the United States, together with its integrated insurance management offering, PREMIA. AMLOCK uses artificial intelligence techniques and provides an array of predictive and early warning alerts as well. It is built on an open platform environment and can work with a wide range of hardware, operating systems and databases.

ISO AND NICB DEVELOP FRAUD SOLUTIONS

ISO Properties Inc., Jersey City, N.J., and the National Insurance Crime Bureau (NICB), Des Plaines, Ill., have collaborated to develop new anti-fraud tools for insurers' special investigations units (SIU). SIU Case Manager (SCM) platform integrates many functions associated with managing underwriting and claim investigations. The new SCM platform provides workflow automation required by SIU professionals. SIU Case Manager will help investigators document, assign, report and archive claims being investigated. It will include a customer response diary, expense tracking, time-triggered mailings and streamlined NICB and state fraud bureau reporting features for enhanced SIU productivity. Case Manager will be integrated with ISO ClaimSearch, a comprehensive all-claims system, and ClaimDirector, the system's claim-scoring service.

In another initiative, ISO is developing a specialized version of its NetMap for claims data-analysis and visualization software tool for the NICB. The version is designed to allow NICB investigators to perform customized searches using the ISO ClaimSearch database, making it easier for them to identify organized fraud rings and collusion-oriented fraud activity.

WEB PORTAL QUICKLY DISPLAYS IT DEPARTMENT'S PROGRESS

Quest Compliance Portal, an integrated Web portal from Aliso Viejo, Calif.-based Quest Software Inc., is designed to enable business decision makers and auditors see at a glance how an organization's IT department is meeting the requirements imposed by specific areas of regulatory legislation. Data generated by products within the Quest Compliance Suite for Windows is automatically gathered and compiled into reports that are viewable in real time via the portal. Regulation-specific report packs (including COBIT, FISMA, HIPAA, ITIL, Basel II and Sarbanes-Oxley) are available to allow evaluation of compliance details important to each specific regulation. The Compliance Portal automatically generates reports on events such as accesses of shared files, user and administrative activity, and elevations in access permissions.

ONLINE RISK MANAGEMENT PLATFORM PROVIDES DATA ACCESS

Guy Carpenter & Co. Inc., a New York-based global risk and reinsurance specialist, has developed i-aXs, an online risk management platform. This new technology is designed to provide Guy Carpenter clients with immediate access to their own exposure data, along with a unique suite of Web-enabled reporting tools that are customizable to their needs. Features being developed as part of the i-aXs suite of tools include advanced data mining capabilities, in-depth portfolio analysis, automated management reporting, user-friendly mapping tools, satellite imaging and real-time weather tracking.

COMPLIANCE SOFTWARE TO STREAMLINE CUSTOMER SCREENING

Bridger Insight XG, a new office of foreign asset control (OFAC) and USA PATRIOT Act compliance solution from Alpharetta, Ga.-based ChoicePoint, is designed to reduce manual workload and streamline compliance workflow across an organization using new technologies designed to greatly simplify customer screening and due diligence processes. Turn-key enterprisewide deployment is another feature of the new software, which is equipped with the latest security and expanded audit capabilities.

SOFTWARE TO AUTOMATE COMPLIANCE PROCESS

Lawson Compliance Control Manager from St. Paul, Minn.-based Lawson Software Inc., is designed to automate the compliance process by enabling customers to develop repeatable and sustainable actions, improving internal processes and decreasing the costs and inefficiencies associated with compliance requirements. It provides an interactive reporting environment, allowing an organization to easily understand the current status of documentation and to drill down into documents stored within the repository. Additionally, Compliance Control Manager can be set up to provide alerts for upcoming tests that need to be performed, with supporting work papers attached, to enable an organization to capture information specifically related to any test performed. Summary status can be reviewed and analyzed for quick decision making and risk management. The solution also allows for anonymous whistle blower issue notification and reporting.

LEXISNEXIS AND STATE NET ADD NOTIFICATIONS TO SOLUTION

LexisNexis, Dayton, Ohio, has teamed with Sacramento, Calif.-based State Net to add notifications of pending compliance developments to the recently launched LexisNexis Insurance Compliance solution. Early Warnings provide insurance compliance professionals the ability to stay ahead of the ever-changing regulatory environment with features such as:

* Alerts on key insurance compliance, legislative and regulatory issues.

* Summaries of state and federal legislative and regulatory developments with expansive interpretive assistance from insurance bulletins, memoranda and circulars.

* Geographic-specific tracking on top 10 issues for insurance compliance, such as predictive modeling, adjuster licensing, mold, hurricanes and more.

With proposed regulations and pending legislation available through a single, Web-based application, compliance users can isolate potential problems before they occur.

IDENTITY MANAGEMENT IN .NET ENVIRONMENT

BMC Identity Management for .NET from Houston-based BMC Software, Inc. offers customers operating in a .NET environment streamlined end-to-end identity management. The software addresses many of IT's most pressing identity management needs including workflow, directory management, audit, self service, password management, Web single sign-on and federation. BMC Identity Management for .NET transparently layers on top of existing Windows-based IT infrastructure technology, such as Microsoft's Active Directory, Active Directory Federation Services, Active Directory Application Mode, Identity Integration Server (MIIS) 2003 and Web services, enabling customers to further leverage and extend their investment in these technologies. Additional product features include an automated workflow and support for two-factor authentication. A key component of BMC Identity Management for .NET is its open architecture, which enables customers to interoperate with myriad systems and applications both internally and externally.

APPLIANCE TO LOCATE NETWORK PROBLEMS

Locate 4.0, the latest version of network appliance from Annapolis, Md.-based eTelemetry Inc. is designed to enable network managers to rapidly pinpoint and react to network issues by discovering the physical location, switch port, department, name and phone number of the person behind a problem IP address. Locate assists with network troubleshooting, IT Help Desk end-user support, acceptable use policy enforcement, regulatory compliance and automating asset tracking. In addition to real-time information, Locate 4.0 creates an accurate historic system of record that can be used for network forensic investigations. This archival feature also helps organizations comply with a number of regulations.

PLATFORM INDEPENDENT OUTSOURCING SERVICES

Eldorado Computing Inc. (ECI), Phoenix, considered the growing needs of health care payers that want to outsource non-core health care business processes when developing a new platform-independent BPO option. The independent platform is designed to enable health care payers to leverage existing systems without additional capital investment in software applications. Third-party administrators and health care payers can select a la cart from ECI's menu of BPO administrative services, which include enrollment and billing, claims entry and adjudication, eligibility, provider maintenance and service, and plan building. Independent BPO customers benefit from ECI's E-Service Accelerator (E-SLA) program that combines 24x7 quality servicing with elevated service metrics, which can help improve customer data entry and claims processing turnaround times.

SAS 70 TYPE II AUDIT

McCamish Systems LLC, an Altanta-based BPO provider to the life insurance and retirement services industries, successfully completed a SAS 70 Type II Audit of its operations for the period ending September 30, 2005. The SAS 70 audit was conducted by Porter Keadle Moore LLP, and covered McCamish's controls placed in operation and tests of operating effectiveness. While McCamish had routinely submitted to Type I Audits in the past, the Type II became mandatory for all outsourced service providers due to the requirements of Section 404 of the Sarbanes-Oxley Act of 2002. The Statement of Auditing Standards No. 70 (SAS 70) is an internationally recognized auditing standard developed by the American Institute of Certified Public Accountants to measure the reliability of a service organization's internal processes and controls. VeriCenter Inc., a Houston-based managed services and enterprise infrastructure company, also successfully completed its SAS 70 Type II audit through the global accounting firm of Ernst & Young. The audit covers all of the company's nationwide data centers and each location received an "unqualified" audit opinion, the highest level attainable. The audit provides assurance that VeriCenter follows policies, procedures, and business processes recognized as best practices for providing a secure, stable data center environment. Publicly traded companies use SAS 70 Type II audits as proof of compliance with Sarbanes-Oxley's Section 404 requirements for outsourced services.

RULES-BASED AUTOMATION FOR THE ENTERPRISE

Infogix Inc., Naperville, Ill., has updated its ControlsAssure, an enterprise software solution designed to deliver rules-based automated information controls. The software is based upon a shared technology that leads to shared capabilities. The Time and Sequence Control module monitors the steps in business processes to ensure information arrives, is on time, and is accurate. These controls provide organizations with the ability to detect and correct issues before they affect further applications within the process, thereby saving time and resources allocated to remedying an error. In addition to the Time and Sequence Control module, ControlsAssure includes Summary Balancing Controls and Duplicate Source Controls modules.

MOLD RISK REDUCTION PROGRAM TO ASSURE INSURERS

The Greenguard Environmental Institute (GEI), Atlanta, has developed a mold risk reduction program that certifies the design, construction and ongoing operations of newly constructed multifamily and commercial properties. GEI is hoping its Mold Protection Program gives building owners, and their lenders and insurers the confidence that appropriate preventive measures have been taken to manage potential losses due to mold damage. The program is designed to ensure that buildings use industries' best practices for safeguarding against the damage and resulting losses caused by mold.

SECURITY RISK MANAGEMENT SYSTEM

The Preventsys Security Risk Management system from Preventsys Inc., Carlsbad, Calif., includes the Preventsys Security Risk Manager and the Preventsys Automated Security Compliance Reporter, two separate applications designed to reduce costs, manage IT security risks and automate reporting on compliance to published security standards and custom business policies. The new Preventsys Security Risk Manager consolidates vulnerability, configuration and threat data with its RiskScore Engine into a prioritized list of critical remediation tasks. The Automated Security Compliance Reporter provides the ability to link corporate security policies and standards to specific technical checks to ensure business policies are adhered to across the network.

GPS VEHICLE TRACKING SYSTEM FOR USAGE-BASED INSURANCE

Waterloo, Ont.-based Intelligent Mechatronic Systems Inc. (IMS), has made iPAID pilot program, a GPS vehicle tracking system for usage-based insurance (UBI), available in North America and the United Kingdom. Via GPS satellites, iPAID tracks when, where, how far, how fast and how aggressively a vehicle is being driven. This information is then stored on the iPAID in-vehicle device and USB data key. Results are viewed by detaching the data key and inserting it into a computer USB port. Data is encrypted and uploaded to the iPAID server, where it is generated into reports, maps and usage alerts.

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