Electronic Submission
The Hartford Facilitates Online Marine Business

Electronic application submission, rating, quoting, and binding from The Hartford Financial Services Group, Inc., has found its way to the carriers marine business, allowing agents to place marine coverage in minutes instead of days. The Hartfords new Quote Marine technology tool allows agents to sell, service, and manage Builders Risk accounts from The Hartfords Electronic Business Center (EBC) portal.

Builders Risk is the first of a series of marine products that will be available through this electronic tool, according to Scott Shapiro, vice president of marine at The Hartford. Builders Risk insurance is an inland marine coverage that protects the value of property as it moves from breaking ground to completion. Builders Risk generally covers the building under construction, building materials (in transit or storage), and certain loss of rent.
Agents and brokers who write marine coverages want to spend their time managing customer relationships and bringing in business instead of wading knee-deep in paperwork and follow-up phone calls, says Shapiro. Weve streamlined the process so agents can concentrate on what really matters to their business.

Quote Marine enables agents to submit an application by completing as few as five concise screens. While the client waits, agents also can test the effect of different deductibles and other options on premium. If the account meets online underwriting guidelines, it can be bound and the sale completed before the client hangs up the phone or leaves the agents office. The electronic rating, quoting, and binding capability applies to new construction projects with up to $15 million in completed value. Wood-frame construction projects are not eligible. An application that does not meet online underwriting guidelines is sent automatically to a marine underwriter for consideration, and the applicant will receive a response within two business days.
We created an inclusive product that is fast and easy to sell, service, and manage electronically through our Electronic Business Center, says Shapiro. So, whether its writing a policy at six in the morning, checking on a claim at 10 p.m., or reviewing a commission statement on Sunday afternoon, doing marine business with The Hartford can be quick and convenient. This is all part of our approach to be the company of choice for marine business.

The Hartford has pioneered a host of technology breakthroughs to make it easier for agents to write personal lines and small commercial business and, more recently, middle market business. Quote Marine is the insurers first electronic submission tool for a marine product, and the company has begun development to extend similar electronic capability in 2005 to other marine products.

Online Claims Submission
AIG Workers Comp Unit Expands Productivity

AIG Specialty Workers Compensation, a division of the property/casualty insurance subsidiaries of American International Group, Inc. (AIG), has expanded its Partners in Productivity Web site (www.aigswc.com) to enable its small-business policyholders and their brokers to report claims online as well as to request and receive loss runs electronically.
With the launch of the new online functionality, customers and their representatives can submit claims to AIG Specialty Workers Compensation claims adjusters for review. By providing direct electronic access via the Partners in Productivity Web site, AIG Specialty Workers Compensation will reduce processing time for individual claims and engage claims management capabilities on a timelier basis. These new system functions were designed specifically to respond to a major priority of policyholdersenhanced communication and re-sponse to claims, according to Jim Roberts, president, AIG Specialty Workers Compensation. The abilities to streamline the claim reporting system and provide online loss runs are important next steps for improved customer service, he says. These features combine with the AIG RiskTool System, our online loss prevention and risk management platform, to offer a comprehensive set of resources that will help policyholders improve workplace safety.

As part of the launch, the new Partners in Productivity Web site enables insureds to download loss runs in Adobe PDF or Microsoft Excel format.

Whos Using What

CommInsure, the insurance arm of the Commonwealth Bank of Australia Ltd., has decided on FINEOS Front Office to support its sales and servicing operation, including new business and claims management.

Vesta Forsikring, part of TrygVesta, the second-largest Nordic insurance group, has increased the number of customer-service requests closed the same day by 20 percent in 12 months using Siebel Insurance from Siebel Systems, Inc. By synchronizing customer portfolio information across every channel of interaction, this insurance carrier also has increased the percentage of one-call resolution cases and improved its cross-selling and up-selling capability.

The Hartford Financial Services Group turned to Risk Management Solutions, a provider of products and services for the management of catastrophe risk, to implement the risk analysis for a securitization of U.S. hurricane and earthquake risk.

Lincoln Financial Group has chosen Accenture to manage Lincolns procurement function in a five-year contract aimed at helping the carrier reduce the cost of purchased goods and services. Under the agreement, Accenture will manage a full suite of procure-to-pay services for Lincoln.

Dana Point Financial, Inc., has reached a contract agreement with Insurity Inc. to deliver comprehensive insurance policy services on an outsourcing basis, including rate/quote, underwriting, issuance, claims administration, billing, reinsurance, compliance management, bureau and regulatory reporting, data warehousing, and management reporting.

New Mexico Mutual Group has installed Ravello Solutions CompQuick Version 4.0, the latest release of the CompQuick system. CompQuick streamlines NMMGs policy administration processes and markedly increases the companys level of agent and customer service.

Manulife USA has implemented Pyxis mPlatform wireless sales force solution, mWholesaler, for its variable annuity wholesalers. Pyxis offers wireless software that promotes asset growth for the investment industry.

Woodmen of the World Life Insurance Society, one of the largest fraternal benefit societies in the United States, has opted for PureEdge Solutions e-forms to increase efficiencies and streamline the processes used by insurance associates across the country in their core customer-facing activities (policy applications, form updates, quotes).

Frances largest life and health insurer, CNP Assurances, has selected its flagship software, Prima Platform, from Prima Solutions and started to implement two new service-oriented insurance applications leveraging its IT legacy assets.

Penn National Insurance has made the decision to utilize Websense Enterprise from Websense, Inc., to comply with the Gramm-Leach-Bliley (GLB) Act by safeguarding confidential consumer financial data from new Web-based attacks.

Merastar Insurance Company, a specialist in employer-sponsored personal automobile and homeowners insurance, has chosen Guidewire ClaimCenter from Guidewire Software, a provider of solutions to property/ casualty and workers compensation insurers, as its new claims system. ClaimCenter will support the end-to-end claim-handling process for the entire claims organization.

Old Mutual Financial Network has gone live as an outsourcing client of McCamish Systems, LLC. McCamish began the implementation of four annuity products on its VPAS Life Policy Administration system in June. All four products will be administered in McCamishs Atlanta outsourcing center.

Concord Group Insurance, a regional, multiline insurer in New England, has picked the Dialogue software from Exstream Software, Inc. Concord is transitioning its document development from a mainframe environment to a Web-based system and plans to use Dialogue to handle the more than 1.9 million customer communications created annually.

Indiana Farmers Mutual Insurance Company announced the total conversion of all download activities to TEAM-UP Download from Connective Technologies, Inc.

Pacific Life has selected outsourcing solutions provider BISYS to support individual(k) plans offered by the California insurer.