Who’s Buying What: Recent Deals for Technology Software and Services
Insurance Networking News, June 2008
FARMERS LAUNCHES IDENTITY SHIELD VIA IDENTITY THEFT 911
Los Angeles-based Farmers Insurance Group, in collaboration with Identity Theft 911, launched Farmers Identity Shield, a comprehensive package that addresses its policyholders’ potential identity theft. In addition to aiding policyholders who suspect they have fallen victim to identity theft, the suite of services includes assistance in replacing a family’s critical identification documents that are lost, stolen, damaged or destroyed. The services also include providing guidance at times in a family’s life when they are more vulnerable to identity theft, such as when they are traveling, moving, facing a military deployment or if there has been a death of a spouse. The services also place a special focus on a family’s minor children who, according to the companies, are becoming identity theft victims in increasing numbers.
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The Farmers offering is powered by Identity Theft 911, Scottsdale, Ariz., which provides a personal advocate to assist policyholders, one-on-one, through all of the challenges of identity theft restoration. The company’s 24/7 resolution service is designed expressly to reduce the time, stress, financial impact and other costs suffered by identity theft victims.
ESURANCE USES CISCO SECURITY NETWORK
Esurance, a San Francisco direct-to-consumer personal auto insurance company, deployed security technology as part of a comprehensive network supported by Cisco Systems Inc,, San Jose, Calif., that is helping secure and support corporate initiatives, such as data protection, compliance, and online services.
One of the early pioneers in developing an online business model that creates more convenience for customers, Esurance offers instant online quotes and comparison quotes, with real-time verification of driving records and other information.
At the heart of Esurance’s network security infrastructure is the Cisco Security Monitoring, Analysis and Response System (Cisco Security MARS), which provides event correlation and a centralized view of the security landscape. With a centralized console, Esurance security staff can efficiently monitor its security system holistically and efficiently.
Using the Cisco-based network, Esurance policyholders can also make policy changes and monitor their vehicles’ repair online. Esurance has deployed a series of Cisco security products as a means to create an in-depth, multilayered defense solution, which is designed to permit enhanced coordinated security across its network.
EVEREST TAPS DUCK CREEK
Everest National Insurance Co., a subsidiary of Bermuda-based Everest Re Group, selected a commercial policy administration solution from Duck Creek Technologies Inc., a Bolivar, Mo., provider of product configuration, sales automation, rating and policy administration solutions.
Duck Creek’s Web-enabled platform is designed to manage Everest’s complete commercial lines policy life cycle. The implementation will initially focus on Everest’s general liability, as well as its excess and surplus lines with plans to support other commercial lines in the future.
As a Web-enabled solution built on service-oriented architecture, the policy administration solution proved a good fit for Everest’s technology strategy, according to Duck Creek. In addition to the need for a flexible and configurable system, Everest also desired self-sufficiency to quickly make product modifications and build new products with minimal ongoing dependence on Duck Creek resources.
HERMITAGE IMPLEMENTS ISO AUTOMATED RATING SERVICE
Hermitage Insurance Co., a White Plaines, N.Y., provider of P&C coverage to small to mid-sized accounts, has implemented the ISO Rating Service within its policy administration system, reports ISO Insurance Technology Solutions (ISO-ITS), Jersey City, N.J.
ISO Rating Service is a comprehensive, automated rate management system containing a combination of advanced technology and product management tools. The system provides insurers with advisory information loaded into a rating engine combined with rate-management decision tools and continual ISO updates.
With its initial implementation of ISO Rating Service, Hermitage will now write a habitational product offering in the state of New York. Hermitage is planning to expand this capability across its entire commercial lines business.
AXIS IN PRODUCTION WITH ADMINSERVER FOR P&C
AXIS Insurance, an operating segment of AXIS Capital Holdings Ltd., a Bermuda-based global provider of specialty lines insurance and treaty reinsurance, is in production with AdminServer Inc.’s Property & Casualty Policy Administration System. The system was configured, launched and in production in less than six months.
The AXIS implementation also includes an integrated broker portal for future online autorate and autobind business submission and tracking. The broker portal utilizes AdminServer’s Common Calculation Architecture, providing AXIS a common set of business rules leveraged for policy quotation, submission and policy processing. Each application utilizes its own unique set of business rules, but AdminServer’s common calculation architecture ensures multiple systems can access the same core set of business rules whenever possible for calculation consistency.
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