Who's Buying What
Insurance Networking News, August 1, 2009
Recent deals for technology software and services
NEW ANALYTIC FRAMEWORK
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Bel Air, Md.-based Harford Mutual Insurance Cos. has selected the new Insurance Analytic Framework (IAF) from New York-based Moore Stephens Business Solutions LLC (MSBS).
Designed for insurance carriers, brokers and MGAs, the IAF is a pre-built, insurance-specific solution that delivers performance metrics for analysis by insurance professionals. The IAF is capable of integrating with core insurance administration platforms and existing data warehouse, data mart and reporting infrastructures. Built using Online Analytical Processing Technology (OLAP) provided through Microsoft SQL Server Analysis Services, the IAF integrates with leading business intelligence platforms, including Microsoft Office PerformancePoint Server 2007, Cognos and Business Objects, permitting the rapid deployment of scorecards and dashboards, as well as sophisticated analytic environments.
"We realized we needed consistent, standard data and reporting across our organization with real-time drill-downs," says Stephen Fabian, AVP, information technology at Harford Mutual. "We chose Moore Stephens because they had a product built specifically for the insurance industry."
BPO DEAL FOR WILTON RE
Wilton, Conn.-based Wilton Re has chosen Falls Church, Va.-based Computer Sciences Corp. (CSC) to provide a full range of business process outsourcing (BPO) services. The 10-year agreement, awarded to CSC during the company's fiscal 2009 third quarter ended Jan. 2, 2009, has an estimated value of $90 million.
CSC will provide full back-office administration services for an additional 270,000 life policies, and convert those policies to its CyberLife policy administration system. Leveraging CSC's consolidated global processing environment, Wilton Re says it will gain a more predictable and scalable cost structure, and access to advanced application software, business processes, and insurance and technology management best practices.
AUTO CLAIMS SOLUTION
Columbus, Ohio-based SafeAuto Insurance Co. has renewed its deal with San Diego-based Audatex North America Inc., a provider of software and services for the automotive claims processing industry.
Under the agreement, SafeAuto will implement Audatex Insight, a business analytics solution designed to deliver real-time data to claims personnel, enabling them to make better decisions. The companies say the addition of Audatex Insight is the next logical step in creating an intelligent system to manage the SafeAuto repair program across 14 states.
"Audatex Insight is a great new resource," says Rob Huebner, material damage claims manager for SafeAuto. "You can quickly drill down by individual appraisers and see claims and repair processing times. We can flag any needed areas for improvement early to avoid problems."
SafeAuto staff will also manage auto claims and repair workflow with Audatex Claims Manager, and vehicle total loss settlements with Autosource.
ESURANCE SELECTS HSG FOR CLAIMS MANAGEMENT
Esurance, the San Francisco-based direct-to-consumer personal auto insurance company, has chosen HSG, a P&C insurance claims management company, based in Eau Claire, Wis., as the sole provider to process all of their auto glass claim invoicing. HSG is one of the largest third-party administrators in the insurance industry, providing auto glass claim management solutions for insurance and fleet customers.
"As a company, Esurance is always looking for ways to innovate and continually enhance our policyholders' experience," says Joe Laurentino, material damage director for Esurance. "After an extensive review, we felt that HSG provided a customer-centric vision that aligns most closely with our own. In the end, we feel this is an exciting partnership that will allow the two of us to grow and develop as organizations."
HSG offers an open, free-market business model. Auto glass shops are able to compete for non-preference claims based on their service and value, without conflict or bias since HSG does not manufacture, sell or provide labor for auto glass. HSG then manages the claim and the performance of the shops according to industry standards. A shop report card is produced that helps providers understand how to improve in order to earn more claim assignments.
INVESTMENT MANAGEMENT SOLUTION
The Texas Farm Bureau Insurance Companies have selected the iWorks investment management solution from Wayne, Pa.-based SunGard.
The companies say the product will help the Waco, Texas-based providers of auto and property insurance manage more than $1 billion in invested assets by providing investment accounting, reporting, portfolio analytics and decision support. SunGard is also providing consulting services to help the Companies optimize system configuration, maximize the efficiency of resources and minimize risk.
"We turned to SunGard because of its valued expertise and understanding of complex regulations and NAIC rules," says Mike Gerik, EVP of the Companies. "We trust SunGard's ability to deliver a comprehensive solution that can help us transform our business operations through the new functionality iWorks provides, as well as its ability to help us make better use of existing resources."
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