Pentelia, Flagstone Re,
Aon Contract RMS’
ILS Platform
Risk Management Solutions (RMS) announced three companies have picked up its
insurance-linked securities (ILS) portfolio management platform. In the last quarter, Bermu-da-based Pentelia Capital Management and
Flagstone Reinsurance and Chicago-based
Aon Benfield have signed on to use the 18-
month-old Miu platform. The company recently released an updated version to include
event mapping and historical catastrophic
event analysis, as well as a feature to combine
historical scenarios with future risks.
“We selected Miu because RMS offers a
product that best suits our needs,” says Ma-
thieu Marsan, risk manager and actuary,
Pentelia Capital Management. “RMS has
shown strong commitment to the capital
markets through the development of a
purpose-built ILS portfolio management
platform, which has been enhanced since
we first saw it in 2009. We are happy to join
the growing community of Miu users.”
RMS said since the program’s release,
two-thirds of ILS funds that license third-
party models have adopted its platform.
AACC Selects Kognitio
Pricing Service
Chicago-based automotive insurer American Access Casualty Co. (AACC) implemented Chicago-based Kognitio’s Data
Warehousing-as-a-Service (DaaS) pricing
service. The DaaS-based pricing service is
designed to compare U.S. Census data,
and more than 400 million historical and
current auto insurance price points with
a company’s loss ratio data using Quoma-tion’s PowerBatch technology. Kognitio’s
WX2 in-memory analytic database serves
as the program’s foundation.
“We saw a market with significant
needs and realized there was a distinct
opportunity for us to become involved
and assume a leadership role,” says John
Thompson, Kognitio’s CEO of North
American operations. “By combining
WX2’s power with the unlimited flexibil-
ity and low cost of DaaS, we have devel-
oped a service that fills a void in the au-
tomotive insurance market. American
Access’ management team and analytics
experts quickly recognized the value and
shared our vision. They have been crucial
to proving that this approach is viable
and provides significant value.”
American Alliance
Gains 4Sight
American Alliance, Rosemont, Ill., announced its decision to use 4Sight’s Business Intelligence for Property and Casualty
solution for its property/casualty business.
“We were immediately impressed
with the system. With the what-if capa-
bilities, ad-hoc reporting, and over 70
standard reports and dashboards,” says
Marc Romanz, president of American Al-
liance. “4Sight for P&C will help us look at
our business in a number of different
ways that provide monitoring as well as
looking ahead at critical items.”
Austin, Texas-based 4Sight says the
program is user-friendly, and can be
quickly implemented and user-ready in
45 days. The Intelligence for Property and
Casualty suite is designed with more than
50 preconfigured reports, and supports
most computer operating platforms and
database programs.
CEMIC Implements
ISCS Policy Admin Suite
CEM Insurance Co. (CEMIC), a Deer Park,
Ill.-based property/casualty insurer specializing in niche offerings, announced
installation of ISCS’ Web- and SOA-based
underwriting program, SurePower Innovation Policy Administration Suite.
“As our product base, agent base and
written premiums continued to grow, it
was clear the use of additional technol-
ogy was a necessity to more efficiently
process our current business and assist
with controlled growth moving forward,”
says Christopher DuCharme, director of
program operations for CEMIC. “The
most important benefits [of the Sure-
Power implementation] to CEMIC were
the efficiencies the system provided, the
additional data and reporting features,
and the ability to equip our agents with
cutting-edge technology to remain com-
petitive within our environment.”
ISCS’ SurePower Innovation, created to
serve commercial, personal and specialty
lines of business, is designed to automate
underwriting, manage policy and claims, al-
low for integrated reinsurance and billing,
and provide document management, rules-
based data warehousing, and document
imaging. The companies said the program’s
implementation met the projected eight-
month goal.
ServiceLogix & FirstBest
Partner, Beacon Benefits
Beacon Mutual, a Warwick, R.I.-based
workers’ compensation provider, opted
to use software created through a partnership between Denver-based ServiceLogix and Burlington, Mass.-based
FirstBest Systems Inc. The program Beacon has slated to implement combines
ServiceLogix’s insurance applications for
policy administration, StoneRiver Power
Suite, with FirstBest’s Underwriting Management System, a program used in conjunction with its Agent Portal program.
“The FirstBest partnership is a natural ex-
tension of our commitment to providing
best-in-class insurance applications. With
FirstBest’s underwriting workstation and
agency portal, which provide carriers with
best-practice functionality in tandem with
flexible and configurable platforms, carriers
now have better capabilities to improve un-
derwriting quality and productivity,” says
James Thomson, president and CEO, Ser-
viceLogix. “FirstBest has a growing customer
roster of the most innovative workers’ com-
pensation carriers. Our partnership will help
us implement more robust solutions for
workers’ compensation, a line of business
that has become increasingly competitive.”
The program will be integrated with
Beacon’s BeaConnect site in order to pro-
vide straight-through-processing (STP)
quoting and real-time interaction with its
400 independent agents.
MEM Adopts
Thunderhead Software
Columbia, Mo.-based workers’ compensation insurer Missouri Employers Mutual
(MEM) announced it will use the Thunderhead NOW customer communications
management system. The program is designed to simplify the process of making
changes to data, allowing members of an
organization who aren’t technologically
minded to alter content without relying
on an IT department.
“We needed a document-creation
tool to integrate with our policy and bill-
ing systems,” says Cassandra McGinnis,
MEM’s director of application develop-
ment and support. “We chose Thunder-
head because of its open standards-
based architecture, scalability and
potential to give more control of docu-
ment changes to the business. We be-
lieve these features will improve MEM’s
flexibility and speed-to-market—all of
which will benefit our agents and policy-
holders.”
Irvine, Calif.-based Thunderhead’s
XML-based NOW program is designed to
speed time to market, reduce costs and
lessen the demand on IT resources.
Bankers Fidelity Life to
Manage Distributor
Channel with Sircon
Sircon, a Vertafore business, announced
that Atlanta-based Bankers Fidelity Life In-
surance implemented the Sircon for Carri-
ers solution to help manage its growing
network of agencies and producers. Sircon
for Carriers is a comprehensive suite of
tools designed to manage compliance and
the entire producer lifecycle, providing con-
nections to carriers, agencies, agents, edu-
cation providers and state regulators.
