New Products Introduction Trend Continues At IASA Annual Meeting
By Ara C. Trembly
Picking up on a trend seen just 12 days earlier at the ACORD conference in Orlando, the IASA Educational Conference and Business Show held here featured multiple new technology products aimed at cutting costs and boosting productivity in insurance and financial services.
While acknowledging that attendance at the conference was “down a bit from last year,” IASA Executive Director Joe Pomilia said the group was “still pleased with the activities.”
Many of the announcements at the conference–held June 1 through 4–concerned technology products designed to help carriers improve IT efficiency and improve service while reducing costs. Several were of interest to the life/health industry.
INEA Corporation unveiled its INEA Performance Management Suite, a financial services performance management system for the insurance industry.
The company claimed the new software will enable insurance companies to deliver “a holistic view of performance and profitability across the enterprise, easily and cost-effectively.”
The product offers the same features as INEAs software for banks but adds features that are specifically important to insurers, said Toronto, Canada-based INEA.
These features include: sources of earnings reporting; embedded value calculation; key performance indicators; planning and forecasting across multiple dimensions; balance sheet planning; sales performance, compensation planning and scorecarding; investment yield and portfolio planning; pricing/reserving models, and statutory capital requirement reporting.
Pricing for the new product is in the $2,000 to $3,000 per seat range, with volume discounts available, an INEA spokesperson stated.
More information is available at www.ineacorp.com.
Coverbind Corporation launched its 101 Document Finishing System (DFS), designed for in-house publishing and electronic printing departments, in-house reproduction centers, office duplicating areas and policy distribution departments.
The new machine can professionally bind documents up to 120 sheets of paper at a speed of 900 documents per hour, said Wilmington, N.C.-based Coverbind. The 101 DFS is a table-top thermal binding system suitable for casual, as well as production use.
According to Coverbind, simple controls guide the operator through every step. The bound documents have “the professional, book-like appearance of documents finished in a commercial bindery.”
Copies are moved along an internal conveyor belt which first heats, then cools each document. “This permits the 101 to finish documents faster than most electronic printers or copiers can produce them,” the company added.