Technology Firm Gets Renamed
NU Online News Service, April 25, 2:29 p.m. ?The Web-enabling insurance technology firm, Insurance Technology Solutions, has changed its name to ePolicy Solutions Inc. and has launched RightRisk, based on Java architecture, its parent company, ePolicy Inc., announced today.
According to Don Martin, chairman and co-founder of Torrance Calif.-based ePolicy Inc., the company is making a strategic shift to focus solely on insurance transformation processes through its Web-enabling business. Completing this process involves concluding a migration to Java-based object-oriented architecture.
"RightRisk significantly broadens the capabilities of our Web-enabling technology for property and casualty carriers, and offers numerous new functional, technical and developmental benefits to the company's insurance clients," said Mr. Martin.
According to Lou Kwiker, president, CEO and co-founder of ePolicy, RightRisk provides a comprehensive, fully-automated insurance distribution methodology that rates, quotes, binds and issues policies online in real time at the producer, sub-producer and customer level.
Mr. Kwiker added that ePolicy Solutions provides carriers and producers with "customized private-label Web sites that can be up and running in a tight timeframe without expending the time or financial commitment to develop their own technology."
The company said some of RightRisk's benefits include: platform independence, greater flexibility, and management of quotes and associated data by storing them in an XML format.
Right Risk was also said to offer improved managing of general agent/agent/customer relationships using a multitier channel hierarchy, flexible policy management options, improved product definition and maintenance, and an External Systems Interface framework that makes it easier to plug in and implement new tools, such as third-party rating or document production systems.
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