Insurers put new products to the testimplementation.

Product: Atlas
Company: Property & Casualty Management Systems, Inc.
Web site: www.pcms.info

Property & Casualty Management Systems Inc. (PCMS) has introduced a new version of its Atlas software system that utilizes the latest Microsoft Windows and .NET technology. Atlas gives users a lower total cost of ownership, faster implementation time, and a better return on investment by offering real-time data and online access.

Randi Aubry, office manager of Mississippi-based USA Insurance Co., says her staff is looking forward to using the .Net version because policy processing will be faster than with the earlier version of Atlas. USA already was pleased with the PCMS product. We were on an old DOS system before we went with Atlas, says Aubry. We were doing a lot of manual work. Atlas has automated a lot of our processing. She cites billing processing, cancellations, and renewal billing as three areas that have improved, thanks to Atlas.

The processing system also has eliminated the use of preprinted forms. Before, we had to load everything into the printer, says Aubry. Now, everything is done on our laser printer. We dont have to load any forms.

PCMS president and founder Beryl Goldman says, We reengineered the Atlas system so customers could take advantage of the cost efficiencies available with Microsoft .NET frameworks. This new system allows insurance companies of all sizes to have a Web-based administrative system that executes day-to-day tasks but at one-fifth the price of similar products.

Atlas provides authorized personnel-secure access to information from any location with Internet connections. Agents, brokers, branch personnel, clients, and other team members can access system functions for getting quotes instantly, viewing full policy histories, generating management reports, and performing other tasks while reducing duplicated efforts between administrative staff or different offices.

It can be installed and fully operational within weeks or months of the date ordered, depending on the size of the system and the number of specialized insurance products supported. Whether the company carries personal lines, such as automobile and homeowners policies, or complex commercial lines, including commercial auto, customized commercial packages, multi-lines, and more, Atlas can incorporate various products into the modular system.

Dedicated solely to the property/casualty insurance industry, Atlas operates both standard and proprietary administrative tasks. PCMS will include online access to the server for policy administration, claim administration, accounting, management, and statutory reporting. Product functionalityratings, underwriting rules, and policy issuancewill be implemented based on specifications provided to PCMS.

The Atlas system offers the following standard functions:

Policy administrationRatings, underwriting rules, policy issuance, and forms production are coordinated online.

Accounts receivableAll receivables are recorded automatically in detail. When nonpremium items are being applied, they are distributed automatically to the appropriate policy premium receivable detail and may be stored by real-time date of entry and/or the deferred date entered during processing. Receivables can be generated from agency, insured, client, mortgage, certificate holder, or other interests.

BillingRecords specifying billing type, payment plan, and various parameters of the billing are associated with receivables, and the billing cycle runs in batch mode. Atlas can render all standard billing forms, including delinquent notices and requests to cancel, reinstate, or renew policies. In addition, all payment plans are customized according to the companys guidelines.

Claims administrationClaims reports of any length can be accommodated. Users can assign the cause of loss or set up diaries (automatically or manually) while online. Specification/verification of coverage is based on the date of loss. Coverage search and view are all online. All reinsurance recoverables are generated by the system. At the same time, loss reserves, loss payments, LAE reserves, and loss adjustments are processed.

Reinsurance accountingThe system understands quota share, excess loss, catastrophe, and facultative reinsurance arrangements. The Atlas policy and claims administration programs are interfaced with reinsurance arrangement modules to provide necessary premium/loss records for reinsurance accounting.

Statutory reportingState regulations and compliance reports on solvency and premium levels are generated automatically.

Management reportingAtlas can be customized to track employee activity, account status, activity by product, lines of business, and other management reports. Tabular and graphic forms can be created. Access is limited to authorized personnel.

Atlas incorporates two layers of security to protect the integrity of company data. The networks firewall protects the system from outside invaders. The second layer utilizes login codes and internal permissions for access to private or classified information.

Product: AIRProfiler
Company: AIR Worldwide Corp.
Web site: www.air-worldwide.com

Underwriters and risk managers have a new tool available to assess natural catastrophe hazards in insured locations with AIRProfiler from AIR Worldwide. The latest release of the product enhances the user interface with the ability to integrate the application into any Windows-based underwriting system.

GMAC Re has been using the AIRProfiler system to identify policyholders located in flood plains. Gary Marshall, vice president of GMAC Re, says his company insures automobile dealers inventory, and the software has been of great assistance in identifying flood zones. Its vital we know where the flood zone is, he says. As best as possible, were trying to make some decisions on the likelihood of the area flooding again. Flood insurance through the government is only on buildings and content. It doesnt cover automobiles on the lot. Were more interested in where the cars are located.

AIRProfiler offers color maps, which differentiate between no-flood zones, a 100-year zone, and a 500-year zone.

The thing about flood is its predictable, says Marshall. With wind and hail and tornadoes, you know its going to occur, but you dont know where. Flood, though, is more precise. If certain areas have heavy rain, there is going to be high water.

The AIRProfiler system, Marshall says, is very straightforward. By entering a location into the system, underwriters can determine as well the propertys elevation.

AIRProfiler also analyzes the risk from hurricane, earthquake, flood, and severe thunderstorm in the U.S. With the addition of the severe thunderstorm hazard, it now includes tornado, hail, and straight-line windstorms. In addition, the latest release updates hurricane and earthquake hazards with current scientific data. AIRProfiler contains the hazard data embedded in AIRs catastrophe models, offering users location-specific peril information. It allows underwriters and risk managers to enter a property address to get information on distance to active faults, storm surge potential, details on historical tornadoes in the area, and other hazard-related information. Also available are risk scores based on three measures of risk: the AAL (average annual loss), the 100-year return period loss level, and the 250-year loss level.

AIRProfiler is an extremely useful tool for the underwriting decision-making process, giving insurers easy access to important hazard information, says Uday Virkud, senior vice president at AIR Worldwide Corp. Since risk can vary within a ZIP Code, insurers need the higher-resolution property information provided by AIRProfiler. In real time, the product will determine if a property being considered for coverage is at an above-average risk from natural catastrophes. If properties reach a certain threshold of risk, it is common for an insurer to run a more extensive loss analysis before making the final decision on underwriting.