Independent Witness releases "black box" for autos
A customer files a claim involving injury related to a car accident. The claimant cites whiplash and a broken nose-but in a collision at five mph? Wouldn't it be nice to know what really happened?
The Witness, a so-called black box developed by Independent Witness (www.iwiwitness.com), was designed to do just that for motor vehicles-from cars to vans to buses and more. At the time of impact, the Witness checks and records motion information, direction of travel, date, time, acceleration, and severity in terms of G-force. Once recorded, data can be extracted and viewed at the scene via laptop, or the unit can be transported to the home office for desktop downloading.
Gathered data are transmitted to Independent Witness's cross-referencing accident severity and injury potential (ASIP) database. Upon processing, adjusters or other authorized personnel access complete evaluation reports via the Independent Witness Web site. ASIP correlates data with real-world factors including medical treatment, pre-existing conditions, injury claims, recovery time, and more. According to Independent Witness, ASIP is the first tool that can objectively correlate force with injury potential.
SunGard's electronic yardstick scores portfolios
Carriers keeping a close eye on portfolio performance can now do so electronically over the Web with SunGard Insurance Systems' (www.sungardinsurance.com) Enterprise Performance Reporting (EPR) solution.
EPR, powered by Investment Scorecard (www.investmentscorecard.com), a provider of investment performance reporting, delivers a consolidated analysis via a scorecard-an online report that addresses asset allocation, exports results in spreadsheets, and compares performance to benchmarks.
SunGard offers access to the solution through a customized link from its Enterprise Portfolio System (EPS), an investment management and regulatory reporting system for carriers. EPS handles investment accounting, decision support, and reporting.
Behold the Administrator
Marshall & Swift/Boeckh (www.marshallswift.com) has jumped into the property insurance solutions game with its Administrator software for determining claim severity, analyzing productivity trends, and outlining best practices.
When applied to property settlements, the Administrator notifies claims professionals of deviations in real time-enough notice to potentially improve indemnity savings.
Administrator's data management features-claim file creation, assignment, tracking, examining, and reporting-automate the traditional workflow, scrutinizing and flagging files that deviate from the norm.
Inskey unveils Quad
Software developer Inskey (www.inskey.com) has designed a Web-enabled front end solution for quoting, underwriting, application, and distribution of policies. Called Quad, the product is customizable and integrates with existing systems-it was built for modular implementation to keep the peace in the IT department. Its Java and XML base provides platform independence.
Real-time quoting features are becoming commonplace, so Inskey focused on the next level of functionality-it added data validation and underwriting capabilities, allowing users to determine eligibility and assign risk appropriately. And Quad uses a carrier's eligibility and underwriting rules in a third party rating system scenario to increase rate accuracy. For verification, Quad features Choicepoint, Clue, and VIN Verification options built into the user interface.
According to Inskey, Quad was designed to reduce processing costs and streamline workflows. And the company believes that customer service improves because carriers can instantly issue policies.
Unisys launches trading exchange
E-business solution developer Unisys (www.unisys.com) has entered the last line of code for its e-@ction Risk Trading Exchange, an Internet-based risk setup, processing, and analysis tool for players in the insurance game. It is accessible at www.unirisx.com.
Entities-from underwriters to reinsureds to capital providers-can transact many classes and types of business through three self-contained business systems: Binding Authorities, Facultative (Re)Insurance, and Treaty Excess of Loss Reinsurance. Available individually and collectively, the systems offer real-time information for transactions and reports, and feature compliance monitoring and audit trails.
Upon securing an ID and password, users can access features such as aggregate monitoring, user-defined workflow, and multi-language and multi-currency support. For binding, features include quotation facility, user-defined information flows, endorsements, cancellations, renewals, bespoke certificates, the ability to apply ratings, and automatic report generation.
The exchange also features client data management functions, such as details maintenance, search and select, client policy handling, and claims history reporting.
Docucorp hopes to reanimate itself
In hopes of instilling a bit of hybrid vigor in its line of core technologies, Docucorp (www.docucorp.com) has integrated XML capabilities into on-the-market solutions.
The company is using XML to enhance communication between its existing products, with provisions for data exchange with upcoming releases.
Some of Docucorp's XML enhancements include bundling of Netscape's XML parser with Documaker RP Server, Documaker RP Server integration with XML data interchange formats such as ACORD and customer-defined needs, I-Entry transaction data exchange, and use of XML with XHTML and XSL in Payment Connect.
Sengen creates components
Internet developer Sengen (www.sengen.com) is offering carriers Scribe, its policy issuance component to augment existing policy systems. The consulting company's E-Insurance Solutions Group will be rolling out additional insurance-specific components in the coming months. Sengen claims Scribe increases speed to market, and demonstrates ROI in the short term.
Paper covers the rock
Prudential claimants can now get a paperless piece of the rock thanks to the new in-house disability claims management system for the company's Group Insurance unit. It features scanning and imaging functions to record documents received via fax from customers, doctors, and claimants; those documents are stored with related claim information.
Claims forms have been redesigned, according to Prudential, to make them easier to fill out and more compatible with the scanning and imaging solutions. But the document side isn't the only target of modernization. Prudential's customer service techs had their software overhauled, and now include an interactive voice response (IVR) system and Web interface. Claimants can use the Net to submit claims and check on payments and status, and employers can generate status reports electronically in real time.
HNC provides bill review services
CompAdvisor, AutoAdvisor, and Capstone Decision Manager for Medical Bills-all bill review products by HNC Software (www.hnc.com) are now available as ASP models.
HNC has a team of support technicians on hand to deal with general support and specific bill review issues. According to HNC, the ASP models feature the same functionality as the client and server versions.
ISO updates and migrates
Insurance Services Office (ISO, at www.iso.com) designed its new ISO Passport, an Internet-based delivery system, to speed up orders placed in its Automobile-Property Loss Underwriting Service (A-Plus). The latter is a database system that offers access to five years of claims information, data from approximately 1,200 companies, and 30 state-sponsored and FAIR programs.
Passport Web-enables the traditional A-Plus workflow, streamlining access to property databases, credit reports and scores, as well as ISO's Graphical Underwriting System (GUS), which links addresses with classification and underwriting data.
The company has also migrated its Claims Outcome Advisor (COA)-a bodily injury and workers' compensation claims management system-to the Web. Now version 2.0, COA uses stored information on 13,000 medical conditions and 14,000 occupations to guide claims adjusters through financial outcomes of claims, while considering possible medical, occupational, and legal complexities.
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