BEAZLEY LAUNCHES GUIDEWIRE CLAIMCENTER
Beazley Group a London-based provider of a variety of commercial and specialty lines insurance, reports that it has completed implementation of a new claims handling system from San Mateo, Calif.-based Guidewire. The system will help ensure that superior claims service remains a key differentiator for Beazley, the company says. Beazley selected ClaimCenter in May 2008 after a thorough evaluation of options, which included building a system in-house. ClaimCenter now supports all phases of the claims handling process for all Beazley lines of business worldwide, which include professional and management liability; political and contingency risks; commercial property; marine and energy; reinsurance; accident and life; and personal lines.
"Claims service is the product that our insureds buy from Beazley," says David Marock, Beazley COO. "We see the claims experience as a moment of truth for clients in which the value of the Beazley product can be demonstrated. ClaimCenter's comprehensive functionality will allow us to continue to improve our clients' experience, while gaining operational efficiencies."
ELEMENTUM LEVERAGES AIR'S CAT MODELING SYSTEMS
AIR Worldwide, Boston, announced that Elementum Advisors LLC, a Chicago-based alternative investment manager focused on collateralized reinsurance investments and insurance-linked securities, has licensed CATRADER, the industry standard application for analyzing catastrophe reinsurance and insurance-linked securities.
Elementum will utilize CATRADER and ALERT, AIR's online real-time loss estimation service, to assess and manage the risks associated with its portfolio of catastrophe bonds and other insurance-linked securities.
"We selected AIR's CATRADER because it enables us to quickly evaluate new investments and fine-tune our portfolio to obtain a more desirable risk/return profile," says Mike France, Elementum Advisors' COO. "CATRADER also supports a wide range of ILS transaction types, which is very important for our strategies."
CATRADER is designed to enable investors to assess the risk associated with a wide range of financial instruments, including catastrophe bonds, industry loss warranties, sidecars and collateralized reinsurance investments.
GERMAN MUTUAL SELECTS BI/AGENT PORTAL SOLUTION
iPartners, Alpharetta, Georgia, a provider of Software-as-a-Service (SaaS) business analytics solutions to the P&C industry, announced that Napoleon, Ohio-based German Mutual Insurance Co. chose its Insurance Scorecard in an effort to maintain and improve financial stability and customer service and to help agents better manage their books of business.
This version of the iPartners BI solution is packaged specifically for smaller P&C insurers, and provides a complete set of key measures, dimensions, and reports to support analytics and reporting requirements at the line of business level.
"Our independent agents are looking for carriers that can be true 'partners', and we see providing tools like agency dashboarding as another way of demonstrating our commitment to help our agents easily and effectively manage their books of business with us," Scott Piper, COO German Mutual. "Competition and the pricing of insurance are becoming more intense each day. The business intelligence tools that iPartners provides will help us better understand our books of business and allow us to continue to enjoy our financial strength and stability."
MID-CONTINENT IMPLEMENTS CAMILION AUTHORITY SUITE
Mid-Continent Group, a Tulsa, Okla.-based member of American Financial Group, has selected Camilion Authority Suite from Camilion Solutions, Markham, Ontario-based for their policy administration system. Authority Suite will support Mid-Continent Group's commercial lines in all 50 states.
"Mid-Continent Group realizes that now is the time to prepare for the economic rebound, and that the right policy administration system will play a pivotal role in creating new market and revenue opportunities," says Jim Davis, VP, commercial underwriting, Mid-Continent Group. "Camilion's Authority Suite will give us the flexibility and agility we need to support our future growth while helping us meet our objective to optimize service to our agents. With sophisticated product configuration capabilities that allow trained business users to modify and develop their own insurance products, and Camilion's proven knowledge transfer program, Authority Suite will give us the self-sufficiency we want."
Implementation of business intelligence, dashboards and portals designed specifically for German Mutual and its independent agents is currently underway.
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