Integration of e-commerce, underwriting, and policy administration is at hand. Milliman & Robertson (M&R, at www.milliman.com) and Data Executives International (www.deinet.com) made available DEI's WinRisk, a new business/underwriting solution, augmented by M&R's FAST (Flexible Administration System Technology) policy administration system.
WinRisk is networked-computer and Web based to make processing for rapid product instructions more cost effective. The companies suggest it can be implemented at the customer's site and have a product ready to market in less than 90 days. The product uses Microsoft's Active Server Page technology and offers third-party administration options.
“As the insurance industry merges into the financial services industry, companies face a greater need to reduce the time required to implement new insurance products,” said Pete Deakins, director of the FAST product at M&R. “FAST and WinRisk address this issue head on.”
WinRisk provides FAST's front end; it moves a Web-generated insurance application through an automated underwriting process. The case is then passed to FAST for issue and policy administration. The two systems interface through XML.
The combined product, available from DEI or M&R, is priced according to components purchased.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
