Integration of e-commerce, underwriting, and policy administration is at hand. Milliman & Robertson (M&R, at www.milliman.com) and Data Executives International (www.deinet.com) made available DEI's WinRisk, a new business/underwriting solution, augmented by M&R's FAST (Flexible Administration System Technology) policy administration system.
WinRisk is networked-computer and Web based to make processing for rapid product instructions more cost effective. The companies suggest it can be implemented at the customer's site and have a product ready to market in less than 90 days. The product uses Microsoft's Active Server Page technology and offers third-party administration options.
“As the insurance industry merges into the financial services industry, companies face a greater need to reduce the time required to implement new insurance products,” said Pete Deakins, director of the FAST product at M&R. “FAST and WinRisk address this issue head on.”
WinRisk provides FAST's front end; it moves a Web-generated insurance application through an automated underwriting process. The case is then passed to FAST for issue and policy administration. The two systems interface through XML.
The combined product, available from DEI or M&R, is priced according to components purchased.
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