Technology and insurance news and information

Insurance companies can take a lesson from other financial services firms and give their customers more and more-personalized services, according to a new report from Meridien Research (www.meridien-research.com) called Converting Policyholders into Customers: Insurance Agents Hold the Key.
They can do this, according to Meridien, thanks to some new front-office CRM technologiesthings like easy-to-use interfaces (based on a Web browser), modular design (to make it easier to keep up with new systems), and better connections to the corporate database (to allow a single view of each customer for every employee).
The result? Insurance firms can cut costs and stimulate their businesses by focusing on customers, not business lines. The technology, says analyst Stephen Ross, helps insurance companies integrate their offerings. That means that instead of simply trying to sell more of one line, new CRM technology will let carriers convert single business line policyholders into multi-product customer relationships, as Ross put it.
Doing this isnt a matter of snapping your fingers, Meridien admits. Because so much of the industrys systems were designed to focus on business lines, that means rewriting some of those applications. Its cost-prohibitive, but it might be the best long-term solution.

NEW PRODUCT

Stopping cold callers cold

With over half the states passing do not call laws aimed at telemarketers and financial services institutions, companies need to make sure they dont bother the people who have asked not to be bothered, and risk hefty fines. To that end, Gryphon Networks is offering a Do Not Call Solution that blocks outgoing calls to anyone on a states do not call list.
In case you hadnt realized it, telemarketing is a growing industryit raised over $600 billion in revenue last year, a figure that is expected to reach $800 billion by 2004, according to Gryphon president and CEO Keith Fotta. More than six million Americans are employed as telemarketers.
When dialing a number registered as a do not call, the telemarketer receives a recorded message that the phone number is on a national registry and the call can not be completed. When dealing with customers who ask to be placed on the do not call list, the telemarketer can enter the number into the registry immediately. RRH

PRODUCT UPGRADES

DWL makes agent connections smoother
Company upgrades Insurance
DWL (www.dwl.com) released two new versions of its DWL Insurance productsone for property and casualty and one for group life and health. Version 2.0 of DWL Insurance for Property & Casualty Agent/Broker Application allows a carriers agents and brokers to complete a variety of transactions through a Web-based or wireless interface.
The underlying architecture uses EJB and J2EE to interface with back- and front-office systems. The new version integrates with DWL Customer, the companys enterprise customer administration application, to provide unified business services for customer administration.
DWL Insurance for Group Life and Health (no version number) is designed to allow self-service transactions for employer administrators and plan members. RRH

AUTO CLAIMS

ADP adds Internet to its claims solution
Purchase of Auto Vista adds Net connection
ADP recently purchased the assets of ComputerLogics Auto Vista claims line and combined it with its Claims Gateway to provide a broader solution to automobile claims (www.csg.adp.com).
Claims Gateway provides a communications link among all parties in the automobile claims process, from the insurers to the collision repairers and everyone in between. Auto Vista provides an Internet-based claims solution. RRH

PRODUCT UPGRADE

HNC programa en fuego
New version makes it easier to add rules
Its a hot update from HNC Softwarethe company released version 4.0 of its Blaze Advisor rules-management software. It enables carriers to automate, manage, and personalize decision processes based on their own business practices and policies. Insurance is just one of the functions of the software; HNC claims to have more than 200 organizations using Blaze Advisor in its various versions.
Major enhancements for 4.0 include defining rules in table format and the ability to test and debug on a fully deployed system. The table format allows rules to be expressed in a small space without using programming syntax. RRH

E-COMMERCE

Travelers launches Net-based billing and payment system
Carrier saves money, customers save time
It may not have the most creative name, but Travelers (www.travelers .com) thinks its new e-Pay service will be a boon to its business customers, offering a quicker and easier way for them to pay their bills. (And saving Travelers some money, too.)
The system is simple and straightforward, but the company claims its one of the first such commercial programs being offered by a major carrier. (Although lots of carriers offer similar programs for personal lines customers.)
The program is currently available only to direct-billed customers, who receive their invoices on a secured Web site after being notified by e-mailas you might imagine, this saves Travelers a significant amount of money in the form of reduced printing and postal costs.
The services payment component allows insureds to pay bills directly from their bank accounts via electronic funds transfer, saving customers the time and trouble of sending a check, and saving Travelers some of the costs of processing paper mail. Finally, the company saves money by allowing customers and agents to access billing history and customer service information through the e-Pay site, reducing the number of phoned-in customer service requests.

Egan earns his letter
InSystems CEO named powerful person

Michael Egan, the chairman, CEO and founder of InSystems, was named one of the 100 Most Powerful People in the Insurance Industry in North America by Insurance-Letter earlier this year.
The people on this listhave been given power by others because they are trusted, according to Walt Podgurski, editor of Insurance-Letter. We hope Egan will use that power for good. AK

CONFERENCES

TechDEC set to dazzle CIOs in September
This trade show has an ROI
The National Underwriter Company (parent of Technology Decisions) will be holding the second annual Technology Decisions Exposition and Conference (TechDEC; www.tech-dec.com) September 12-14 in Orlando. Dennis Chookaszian, retired chairman and CEO of CNA, has been tapped to keynote the event, which is expected to draw CIOs, CTOs, and other carrier executives from around the country.
Geared toward insurance company decision makers, the show will feature sessions on using technology to reduce costs, the changing role of insurance executives, tools for claims investigations, and managing remote and off-site employees. It will also have several open-format panels debating issues such as build vs. buy and ways of staying current with new technology.
To provide attendees with the most useful and objective information, speakers will be from insurance companies, consultants, and industry experts, while the exhibit hall will feature a wide variety of technology vendors. (Last years show in Tampa sold out of exhibit space; TechDEC 2002 is in a larger facilitythe brand new Gaylord Palms Resort and Convention Center.)
Detailed information on the show, including registering, exhibiting, and sponsoring, is available at www.tech-dec.com. AK

NEW PRODUCT

Faster surety bonds from E-Surety
Company adds contract automation
Focus on Innovation has expanded its E-Surety (www.e-surety.net) product line with E-Surety Contract, which automates the underwriting, issuance, and servicing of contract surety bonds. The companys E-Surety Commercial product has streamlined the commercial surety bonding process.
E-Surety Contract stands out because the entire bond process can be completed on the Internet, from application, payment, underwriting, and issuance or rejection of the bond. Daniel Buckles, president and CEO of Focus on Innovation, said, We expect this new product to allow large agencies and carriers to drastically cut their bottom line by simplifying the contract surety process. RRH