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Who's Buying What: Recent Deals For Technology Software And Services

June 2007

PURE CHOOSES ONESHIELD FOR POLICY ADMIN SYSTEM

Privilege Underwriters Reciprocal Exchange (PURE), a startup with headquarters in Plantation, Fla., has selected software from Westborough, Mass.-based OneShield Inc. to support administration of new insurance products. PURE deployed OneShield's Dragon platform to manage the end-to-end policy administration of PURE High Net Worth Insurance personal lines product offerings.

The metadata-driven system has a well-defined, insurance-oriented data model ideal for meeting PURE's need for rapid application and deployment, the vendor says. In six months, PURE and OneShield worked together to customize the carrier's business rules, workflow and channel management. PURE also selected OneShield to serve as the host for Dragon and other core applications.

TWO INSURANCE COMPANIES WORKING WITH SUNGARD

Two companies recently purchased software from Wayne, Pa.-based SunGard Data Systems Inc.

One of the companies, South African-based Liberty Life, has completed the first phase of a single platform project with SunGard's iWORKS COMPASS, a group and individual insurance, pension and investment product administration system.

Kaiser Permanente, an Oakland, Calif.-based self-insured, integrated health care organization that administers workers' comp, will be using SunGard iWORKS EPS on an application service provider (ASP) basis with SunGard iWORKS eLINK, a managed hosting service. SunGard will provide Kaiser Permanente with managed hosting of the SunGard iWORKS EPS system at its facilities so that Kaiser Permanente will incur no new hardware purchases, no application license fees, no local network overhead and no IT maintenance costs, SunGard says.

THE CO-OPERATORS GROUP GETS GUIDEWIRE SOFTWARE

The Co-operators Group Ltd., a carrier with headquarters in Guelph, Ontario, is replacing a legacy claims system with Guidewire ClaimCenter from San Mateo, Calif.-based GuidEwire Software Inc. "Our goal is to migrate from our current legacy claims environment to a modern claims system that will be utilized by all of our property and casualty companies," says Rob Wesseling, Co-operators chief information officer.

The vendor says the new system will increase productivity for claims workers by automating manual tasks; allow access to real-time comprehensive claims information for insight into core processes, operating costs and market opportunities; automatically route claims tasks based on staff expertise and workloads; and streamline IT maintenance by moving to a modern platform across all lines of business.

KEANE COMPLIANCE TOOL PICKED BY FP MARINE RISKS

FP Marine Risks, an independent Lloyd's specialist marine insurance broker with headquarters in Hong Kong, has selected SCORE, a system from the Boston-based Keane Organization's Business Risk Management Solutions Division, to automate measurement and management of risk and compliance.

SCORE, a Web-based decision-support tool, automates enterprise risk management and compliance. The platform, which can be customized to meet specific needs, can measure, manage and monitor risk across the enterprise, the vendor says.

METLIFE AND KAMAKURA EXPANDING RELATIONSHIP

New York-based Metropolitan Life Insurance Co. has signed an agreement with Honolulu-based Kamakura Corp. to extend Kamakura Risk Manager software to include calculation and reporting of Basel II capital requirements. The insurer has been using the KRM software in its investment department and affiliated banking company.

MetLife also subscribes to the Kamakura Risk Information Services default probability and correlation service, the vendor says. "MetLife has steadily increased its reliance on Kamakura Risk Manager since the initial installation in 2003," says Rich Owens, vice president in the Portfolio Management Department at MetLife.

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