Newsletter Sign-up

TECHNOLOGY

Axis Communications has announced the release of the AXIS 214 Pan/Tilt/Zoom Network Camera, a high-performance camera for professional surveillance and remote monitoring. The AXIS 214 PTZ combines a color camera with the flexibility of remote pan/tilt/zoom functions. The camera's range enables it to cover a wide field of view, making it ideal for use in midsize businesses. The network camera has built-in motion detection and simultaneous MPEG-4 and Motion JPEG compression to optimize storage and viewing capabilities.

Policy Administration

Decision Research Corp. has announced the immediate availability of Portal Access, enabling insurers to offer agents and other distribution channels real-time access to their policy administration system. Now available for all Decision Research clients, the optional, add-on module is already in production use at Unique Insurance. With the extended Portal Access capabilities, Decision Research clients are able to deploy a single solution for all their policy administration needs, from home office to field agents. With immediate access to a single, current source of information and functionality, all stakeholders are ensured efficient and accurate policy processing.

Peak Performance has announced the acquisition of PolicyPointe, a Web-based software system that was developed to provide an innovative solution to manage policy workflow while reducing administrative costs and improving customer service for high-volume lines of coverage. PolicyPointe provides a reliable, single point-of-service system for executing large volumes of transactional business in a controlled, efficient and secure manner. PolicyPointe leverages application service provider technology to provide automatic execution and electronic delivery of all elements of policy underwriting, rating, sales and issuance administration--through secured self-administration and real-time processing. PolicyPointe rates and underwrites the risk based on predefined, customizable criteria.

Flood Insurance

The National Flood Insurance Program has announced a new FloodSmart Agents Web site, providing access to agent materials and new content in a password-protected agents-only section of FloodSmart.gov. After registering for a username and password, agents can log in to access links to education and training programs, information about map-modernization projects, resource materials for customers to help them through the claims-filing process, comprehensive support for sales efforts that include tips, talking points, and an opportunity to enroll online for our NFIP Agent Referral Program and Co-op Program.

Analytics

Verint Systems Inc. has unveiled ULTRA IntelliScreen, a new analytical solution for generating actionable intelligence from unstructured data displayed on desktop screens. IntelliScreen is the latest addition to the ULTRA Analytics suite, consisting of IntelliFind speech analytics and IntelliMiner performance analytics solutions. This trio of solutions provides a comprehensive view of business processes, customer interactions and performance trends, and delivers actionable intelligence about quality and performance issues across the enterprise. ULTRA IntelliScreen monitors and analyzes activity on the desktop screen of a contact center agent or back-office worker and tracks application usage, data entry and screen content.

BCF Technology Inc., a leading provider of Web services, data integration and aggregation, competitive intelligence information, and single sign-on technology solutions for insurance and financial services, announces the launch of its multiplatform Data Mapping Solution. The Data Mapping Solution has been implemented in more than 200 insurance carrier transactions for commercial and personal lines insurance transactions. The solution allows insurance agents/brokers, insurance carriers and financial services organizations to exchange data in a normalized, efficient and low-cost manner.

Broker Management

National Union Fire Insurance Co. of Pittsburgh, Pa., a member company of American International Group Inc., has announced the release of AIG ePro, a Web-based system allowing brokers to quote and bind PrivateRisk Protector coverages in just minutes. AIG ePro was engineered for brokers to simplify the selection of coverages, generate quotations and electronically issue policies for private companies with up to $100 million in revenue or up to 1,000 employees. PrivateRisk Protector is a portfolio of management and professional liability coverages designed for private companies.

INSURANCE

Product Liability

Lexington Insurance Co., a member company of American International Group Inc., has introduced RecallResponse, coverage for first-party expenses and third-party liability arising from the recall of finished or component goods. RecallResponse can cover product recall expenses alone or can be expanded to cover liability to third parties arising from the recall. Insurable expenses can include the costs of notifying customers, shipping and disposing of a recalled product, repairing and replacing the product, and refunding customer payments. Lexington also provides policyholders with access to attorneys who specialize in the legal and regulatory aspects of product recalls.

Continuing Education

The Hartford Financial Services Group Inc. has created a week-long school that gives producers and account managers valuable insight into group disability insurance and key strategies to tap into trends, such as the voluntary/consumer-driven market. Through its core curriculum and targeted electives, The Hartford's new Vault Program teaches the core elements of the group disability business, including contracts, underwriting, pricing and risk management. The comprehensive program is led by instructors who each have more than 25 years of group disability insurance experience. The Hartford's Vault Program is approved for up to 35 continuing education credits in most states.

Research and Markets has announced the addition of its e-Learning Course, Variable Universal Life Insurance, to its offerings. This course examines the conditions--economic, legislative and other--that gave impetus to the development of the VUL product. It also discusses the ways in which it is similar to and different from variable life and universal life insurance. Finally, and most importantly, the course will look closely at the product's features. The use of the Internet for research and educational purposes, particularly in the financial services marketplace, continues to be on the rise. As a result, Research and Markets has developed an extensive library of online training courses to help financial representatives stay connected with today's fast-paced business environment.

Excess/Surplus

InsuranceNoodle has announced that 10 new excess and surplus lines products with an A+ rated carrier are now available in 36 states and the District of Columbia. Types of businesses eligible for coverage include: 24-hour convenience stores with/without gas, 24-hour convenience stores with eating/cooking facilities, home inspectors, car washes, floor waxing/janitorial, property managers, vacant buildings, vacant land, refrigerated warehousing and general warehousing. Agencies can now get both standard lines and surplus lines products from InsuranceNoodle with one online application.

?Compiled by staff from news and company releases.

March 1, 2006

Copyright 2006© LRP Publications