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Who’s Buying What: Recent deals for technology software and services

January 2008

HARLEYSVILLE ROLLS OUT POLICY ADMIN PLATFORM

Harleysville Insurance, Harleysville, Pa., is rolling out a new AQS/advantage commercial lines policy administration system that facilitates rating, quoting and policy issue processes in a real-time mode, and integrates predictive modeling for risk assessment with an underwriting rules engine. The deal with AQS Inc., Hartland, Wis., consists of AQS/advantage the policy administration system; AQS/advantage Integrator, a tool to manage the ETL process; and AQS/advantage Transaction Gateway, a means to administer unattended processing.

The new platform offers the company’s independent agency partners flexibility in doing business with Harleysville, while improving the insurer’s underwriting consistency and productivity. It also enables the company to add enhanced products to its portfolio, and will eliminate the expense of supporting multiple mainframe rating and policy administration systems, the company says.

The new commercial lines system was introduced in Pennsylvania, one of Harleysville’s largest commercial lines states early this month. The rollout will continue in 2008 throughout the remainder of the 32 eastern and Midwestern states in which Harleysville does business.

AML, ADVANCED DETECTION

AXA Financial Inc., a New York-based provider of financial protection and wealth management products, will use anti-money laundering and watch list management software from Norkom Technologies to detect, investigate, manage and report suspicious activity. The deal supports AXA’s enterprisewide anti-money laundering compliance strategy across diversified business lines throughout the United States.

Norkom’s product is designed to reduce costs and improve productivity by providing advanced detection of suspicious activity using best-in-class analytics and comprehensive case management capabilities that deliver greater efficiencies to the investigation process. The system also will screen all transactions against industry watch lists to guard against business being carried out with high risk entities such as known terrorists, criminals and politically exposed people. Located in Dublin, Ireland, Norkom counts HSBC, Standard Chartered Bank, DTCC and Western Union among its clients.

In related news, IBM and AXA Financial subsidiary AXA Group, announced an outsourcing services contract extension for IBM to provide services through 2012. As part of the extended agreement, IBM will provide IT infrastructure services to AXA’s global operations. Key to winning this deal is IBM’s strong relationship with AXA Group, its deep industry expertise and massive global delivery network, reports the company. AXA Tech, the technology arm of AXA Group, will consolidate, standardize and automate its IT infrastructure to reduce operating costs and improve service quality for its customers. Under terms of the contract, IBM will provide on-demand mainframe, server and storage services and consulting to help AXA Tech transform their data center and processes. By utilizing an IT infrastructure with variable cost structures, AXA Group expects to achieve significant savings and respond more quickly to changing market conditions.

ARROWHEAD SELECTS RATING TECH FOR WORKERS’ COMP

San Diego-based Arrowhead General Insurance Agency extended its use of Decision Research’s (DRC) DecisionMaker Rating product to support the processing of Arrowhead’s workers compensation programs. An independent national program manager for commercial, personal and specialty lines, Arrowhead provides workers’ compensation benefits through its Cypress Point-Arrowhead General Agency Inc. division. Currently, Cypress Point is writing in more than 30 states. Arrowhead selected DecisionMaker Rating, a solution designed to quickly model and publish rate premiums as a callable Web service, for its ease of use, flexibility and speed to market capabilities, reports the company. In addition to the 10 personal lines of business, Arrowhead also completed the integration of DecisionMaker Rating to six commercial lines of business within their online portal and policy management systems.

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