Principal Financial Group Inc. has started using a provider management system from Portico Systems Inc.

Principal, Des Moines, Iowa (NYSE:PFG), is automating the process of identifying and recruiting providers with Portico’s Integrated Provider Management system, according to Portico, Blue Bell, Pa.

Principal also plans to use the Portico Choreo Provider Contracting Solution to automate the provider contracting process, Portico says.

Portico is a unit of Safeguard Scientifics Inc., Wayne, Pa.

In other insurance technology news, Internet Pipeline Inc., Exton, Pa., which operates as iPipeline, has released version 7.2 of the Velociy Platform system.

The Web-based system helps about 200 carriers and 1,200 insurance distributors communicate with about 400,000 agents.

The new version of the system includes graphical indicators, QuickAccess tools for starting a new client and viewing all existing cases, and multi-carrier quotation and illustration capabilities.

Velocity users also can get access to an electronic application system that can provide automated underwriting decisions.