With the Automated Bond Management Program, the brainchild ofLockton Insurance Brokers (a subsidiary of Lockton, www.lockton.com) and InSure VisionTechnologies (www.insurevision.com) users canmanage bond portfolios for homebuilders across the country.

The program represents an integration of IVT's SurePathNetwork-a Web-based bond processing system-and Lockton'sproprietary bond management software. According to the companies,the product "provides a seamless information and transactionenvironment among homebuilders, Lockton's surety professionals, andinsurance carriers."

Homebuilders with access to Lockton's system use a single entrypoint to request bonds from anywhere. The company then retrievesthe requests, processes them, and carries them to execution withoutdata entry duplication.

"Real-time access to bond portfolio information enables seniorfinance people to monitor reports, manage their outstandingliability more effectively, and move bonds through exoneration,"said Tom McCall, executive vice president of Lockton's OrangeCounty office. "In addition to the cost savings, timely exonerationof bonds reduces homebuilder liability for damages made after theproject is completed."

The Automated Bond Management program features processing ofbond requests, renewals, and exoneration; online bond request andexecution; same-day bond tracking; real-time bond review andupdate; and remote report printing and customization, whichincludes transaction reports, executive summary, project managerreports, renewal lists, and recently closed or cancelled bonds.

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