E-commerce Software: Good News And Bad News

With so many e-commerce products and solutions available today, technology vendors are presenting a good-news/ bad-news scenario for property and casualty insurance companies and reinsurers.

The good news is that vendors have responded to the industrys e-commerce needs with myriad products. The bad news is: How does a company decide what systems or software to use?

Making these decisions is “very difficult for companies,” said technology analyst Judy Johnson, vice president, MediGroup in Stamford, Conn. “Its basically who gets to the right person first and tells the best story.”

Vendors are offering sophisticated products that allow for wireless communications, full trading partner participation, rating and other sales tools to both agents and brokers and the consumer.

Jackie VanErp, vice president, marketing, for the financial services group of Computer Sciences Corporation, El Segundo, Calif., said that CSC has several new products that “enable insurers to place the necessary sales tools in the hands of agents and brokers.”

New e-commerce products from CSC include iSolutions, an e-business tool which can be used for sales by agents or brokers or direct to consumers.

The product allows a company to quickly design and assemble new insurance products and to deliver them simultaneously to call centers, the Internet or agent offices through several distribution channels, according to Ms. VanErp.

Another software product, VP/MS supports Internet-based quoting of the insurers rates to prospective clients, as well as agents and brokers, she said.

Information on other CSC products is available at www.csc.com.

IRTechnology, in Princeton, N.J., a subsidiary of Insurance Revolution, has responded to an industry need for sales and marketing with software that allows an agency to send multiple submissions to multiple carriers without re-keying, according to Jeff Behm, chief e-business officer.

The system, now in production, operates from the agency side, but is a means of communicating bi-directionally. Carriers can respond to submissions with a quote via ACORD-based XML standards, Mr. Behm said.

More information is available on IRTs Web site at www.irtechnology.com.

Synergy 2000 has a new program called Eservices for P-C and reinsurance, which covers sales for five lines of business: auto, homeowners, business owners policy, professional liability and workers compensation.

Charles Cronin, president, Infinity Technology Services, a subsidiary of Synergy 2000, in Pasadena, Calif., said the program covers the span of quoting by agents, applications, agent underwriting workflow, template underwriting and binding.

The Java-based program is a Web interface that interacts with legacy systems and is marketed to insurance carriers, managing general agencies and pools, he said.

Pricing is generally “$50,000 per line [of business], plus implementation.” System requirements are basically “dial-in access to the Internet by a desktop or wireless device,” Mr. Cronin explained.

Benefits of the program include accurate rates, single system maintenance, paperless underwriting and a faster sales process for agents and carriers, Mr. Cronin said. Information about the program can be obtained by calling 626-792-8600.

Greenwich, Conn.-based IVANS has responded to e-commerce needs with several new products, according to the company.

Transformation Xpress is a “translation software” that allows companies to easily exchange policy data with trading partners, the company said.

Transformation Station offers both batch and real-time processing over the Internet for agents needing real time quotes for clients, according to IVANS.

“These products are geared to allowing the agent to focus on selling products quickly,” said Bill Tedrick, vice president, customer services and industry sales.

A third product, WebSEMCI, provides companies with the ability to capture sales information from agencies through a Windows-based interface or an ACORD form-based display, the company said.

More information is available at www.ivans.com.

IPNet Solutions Inc., in Newport Beach, Calif., said it recently introduced the IPNet eBizness suite, which is made up of Transact and Collaborate components. The program supports Internet standards, XML and legacy EDI systems, according to the company, allowing secure transfer of any type of document including policies, between two business partners.

Costs vary “on size and scope of project,” the company said. Cost for the basic e-Bizness Transaction product begins at $50,000.

Atlanta-based Ebix.com Inc. has introduced ebixasp, said Andy Whalen, vice president sales and marketing. The product, he said, is an HTML-based client management system for agents and brokers that offers full contact management, giving the agent or broker complete information about clients, prospects and their associates.

The Internet software is accessible by all handheld devices and can send messages and reminders to a cell phone, Mr. Whalen said.

The software is designed for agencies and MGAs, as well as large brokerages, he said. The setup and registration fee ranges from $1,000 to $5,000 with a monthly charge of “$65 per user.”

More information is available at www.ebix.com.

Reproduced from National Underwriter Property & Casualty/Risk & Benefits Management Edition, November 26, 2001. Copyright 2001 by The National Underwriter Company in the serial publication. All rights reserved.Copyright in this article as an independent work may be held by the author.

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