Who's Buying What
Insurance Networking News, February 1, 2010
Recent deals for technology software and services
CHUBB EXTENDS CONTRACT WITH IMAGINATIK
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Imaginatik plc, a Boston-based provider of collaborative innovation software and processes, reports that it has signed a two-year contract extension with Warren, N.J.-based The Chubb Corp. No financial details were disclosed.
Imaginatik's collective intelligence software platform and consultancy services have been supporting Chubb's innovation program since 2008, being used for idea management, new product development and cost reduction. Imaginatik's software, Idea Central, has facilitated open innovation by enabling collaboration between suppliers, agents and brokers.
SYMETRA SELECTS INSURANCE TECHNOLOGIES' FORESIGHT
Insurance Technologies LLC, a Colorado Springs, Colo.-based provider of sales illustration and point-of-sale solutions, reports that Bellevue, Wash.-based Symetra Life Insurance Co. has selected ForeSight Version 5.0 to illustrate its entire life product suite.
With ForeSight illustration software, Symetra independent agents and advisors can show clients how a life insurance product will perform over time in meeting their financial needs.
Symetra began working with Insurance Technologies as its sales illustration solution provider in 1999. The company currently illustrates term and universal life products on the ForeSight system. Symetra's move to ForeSight 5.0 will allow the company to make updates to the illustration software via its Web site for all new life products.
"We have had great opportunities over the past several years to help companies like Symetra highlight their life products," said David Fenimore, EVP-engineering and CIO for Insurance Technologies. "We are excited to continue our partnership with Symetra and to provide them with our latest version of ForeSight 5.0."
TWO CARRIERS OPT FOR TCCS PROCESSING SOFTWARE
Town and Country Computer Services (TCCS), Schenectady, N.Y., announced that two insurers are using TCCS's "INS PRO" insurance processing software to help write lines of business on programs provided by the American Association of Insurance Services (AAIS):
Great Lakes Mutual Insurance Co., Calumet, Mich., has agents throughout Michigan offering policies based on the AAIS Homeowners and Dwelling Properties programs. As of March 2009, all of the company's agent quotes and applications in affected AAIS lines have been processed through an INS PRO application.
Lincoln Mutual Insurance Co., Lincolnton, N.C., writes AAIS-based homeowners, dwelling properties and farmowners policies throughout the state. Live use of INS PRO for processing agent quotes and applications in those lines is imminent.
RSA CANADA SIGNS POLICY ADMIN DEAL WITH DUCK CREEK
Duck Creek Technologies Inc., a Bolivar, Mo.-based provider of software and services for the insurance industry, has signed an agreement RSA Canada, headquartered in Toronto.
RSA Canada offers personal and commercial products across Canada, writing approximately $1.9 billion in annual premium. RSA Canada has regional offices throughout the country employing more than 3,000 people.
"We selected Duck Creek Technologies' policy administration system as our strategic platform for commercial insurance operations because of its tremendous flexibility. More than just an administration system, this solution lets us better manage business processes and automate workflows, which improves underwriting discipline and drives efficiency," says Steve Knoch, VP of underwriting operations and CIO at RSA.
SOUTHERN FARM BUREAU CASUALTY PARTNERS WITH IDENTITY THEFT 911
Little Rock, Ark.-based Southern Farm Bureau Casualty Insurance Co. announced that its Arkansas policyholders will receive comprehensive identity theft resolution and education services at no cost through Scottsdale, Ariz,-based Identity Theft 911.
Southern Farm Bureau Casualty Insurance Co. automobile policyholders in Arkansas and their immediate household members will receive Identity Theft 911's LifeStages program for one-on-one resolution services and consultation, including credit and fraud monitoring tools, during various life events when they could be particularly vulnerable to identity theft. All recipients have dedicated online access to Identity Theft 911's educational material, including daily threat alerts, investigative articles, monthly newsletters, white papers and prevention tips.
"Through our partnership with Identity Theft 911, we are providing our policyholders with proactive education, one-on-one expert identity theft resolution services and, most important, the peace of mind that someone is there to provide on-demand guidance and personal assistance whenever needed," says Duff Wallace, SVP-state manager, Southern Farm Bureau Casualty Insurance Co.
PEKIN DEPLOYS LIDP SOA WEB SERVICE SOLUTION
Pekin Life Insurance, Pekin, Ill., has gone into production with the LIDP SOA/Web service framework from Woodridge, Ill.-based LIDP Consulting Inc. Pekin is currently using the Web service connectivity of The Administrator, LIDP's policy administration solution, to quote values for their Web-based agency inquiry application, and also to provide values for an in-house application.
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