Processing, Administration Systems Highlight Product Offerings At IASA
Several new computer systems designed to boost productivity and trim the bottom line for insurance and financial services firms were among the highlights of announcements made here during the IASA 2002 Educational Conference and Business Show.
In the life insurance area, Sherwood International, Armonk, N.Y., introduced Amarta LIFE Fast-Start, a new-business processing product based on the companys Amarta business process product.
Aimed at insurers who want to “modernize and streamline their new business operations,” Fast-Start combines administrative functions with “robust” Web-portal technology, said Sherwood. A Sherwood spokesman described the product as an out-of-the-box application that can integrate with a companys core systems to create a new business environment.
According to Sherwood, Fast-Start enables insurers to launch new products and channel relationships quickly, and to process business more effectively. The company claimed the product would deliver better time to market for such products while lowering costs and increasing control in the insurers back office.
Fast-Start supports products that include UK Universal Whole of Life and U.S. Variable Universal Life, said Sherwood.
Hyland Software, Inc., the developer of OnBase document management software, announced a partnership with Denver-based Open Scan Technologies, Inc. an exception mail processing solution provider, to create an insurance industry product for processing new business and ongoing commercial premium payments.
According to Cleveland-based Hyland, OnBase products provide imaging, workflow and document management, while Open Scans Mail Scan and Open Key products offer automated capture, routing, recognition and exception handling. This allows for automated import of all captured images and index values.