NAPCO EXPANDS USE OF AIR CATASTROPHE MODELS
Commercial insurance wholesale broker Napco LLC, Edison, N.J., is expanding its use of the catastrophe management application CATStation to assist its clients with their catastrophe underwriting decision-making and portfolio management.
“With CATStation, we’re able to analyze risks using the same high-quality hazard and loss information used by insurers and retail brokers,” says Ravi Singhvi, assistant VP, risk modeling at Napco.
Developed by Boston-based AIR Worldwide Corp. (AIR), CATStation is designed to provide the flexibility wholesalers, retailers and insurers require in one catastrophe management application. Napco uses CATStation to combine exposure concentration analysis, hazard analysis and policy-level loss analysis into a single Web-based solution. Napco chose CATStation as its sole application for analyzing its clients’ catastrophe risk.
“AIR’s CATStation enables us to simplify our workflow by bringing critical data elements together in a single, easily configured report,” Singhvi says. “For example, we can now provide our clients with information on how much each location contributes to the overall policy from a loss perspective, as well as whether each location meets such criteria as distance to coast or soil type.”
CALIFORNIA BLUES LICENSES FJA’S PRODUCT MACHINE
Blue Shield of California, San Francisco, licensed a product to simplify its product development process. FJA-US Inc., a New York provider of custom software solutions for the insurance industry, reports that licensing of the Product Machine and the multi-year deal is part of Blue Shield’s strategy to make things easier for its customers and business partners by simplifying the product development process.
Product Machine provides an end-to-end solution to centralize and share product information with all downstream systems without redundantly coding product. The system’s inherent benefits of centralization, collaboration and availability of information are designed to bring accuracy and consistency across systems and offer Blue Shield of California an opportunity to significantly improve speed to market for new and revised insurance products.
“Integrating FJA’s Product Machine and Plan Configurator will allow us to be quicker to market, establish greater automation, and improve the work quality and efficiency of product implementation processes, such that we strengthen core services provided to customers and business partners,” says Bob Wadsworth, VP of product development at Blue Shield of California.
CHUBB IMPLEMENTS TRANSACTNOW SUITE
After partnering with Bothell, Wash.-based AMS Services to develop and deliver the Activities and Notifications functionality, The Chubb Group, Warren, N.J., implemented the enhanced AMS TransactNOW feature. The Activities and Notifications capability will help agents receive timely notification of claims, billing, and other activities, directly from carriers in real-time.
AMS Connectivity Services has added several new features to AMS TransactNOW, which is designed to give agents real-time access to carrier information. AMS TransactNOW features include a multi-carrier commercial submission feature, CL Submit, which enables extensive reuse of the policy detail stored in the agency management system. This enables agents and commercial carriers to process submissions directly from AMS TransactNOW.
AAA Mid-Atlantic Streamlines Receivables
STGMastek, a provider of enterprisewide solutions to the P&C insurance industry, recently announced that Wilmington, Del.-based AAA Mid-Atlantic selected its STG Billing and Accounts Receivable system to support its insurance business across several lines, and will eventually expand to non-insurance lines of businesses.
The STG Billing System is designed to provide centralized cash-management, accounts receivable and collections operations to AAA Mid-Atlantic.
“We were impressed with STGMastek’s enterprise billing solutions and the installations that will enable us to modernize administrative infrastructure,” says Spencer Roman, president and COO, AAA Mid-Atlantic Insurance Group. “AAA Mid-Atlantic chose STG Billing because it demonstrated the integration capabilities required to complement our systems. We wanted a platform that would provide us with enhanced flexibility for our diversified product portfolio in consumer insurance services.”
(c) 2008 Insurance Networking News and SourceMedia, Inc. All Rights Reserved.
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