InSystems, a developer of document and compliance automation for the insurance and financial services industries, has released InSystems Tracker 6.3, the latest version of its compliance software. Tracker streamlines the creation of new insurance products and securing approval from state regulators to improve speed to market. It automates both the product development and state compliance filing processes, enables insurance organizations to bring new products to market faster, lowers operating costs, and reduces market conduct exposure and possible fines, indicates Neil Betteridge, vice president of marketing for InSystems.

The new version of Tracker also allows insurers to pay filing fees for fully electronic filing, and the regulatory specialist module offers content updates that are distributed to carriers through automatic electronic updates as often as needed.

Among the insurance carriers already using Tracker is Allstate Insurance, which has had the product in production since March 2005, according to Bonnie Whitman, associate state filing director for Allstate. She adds Allstate is looking forward to working with the new release early this year. Currently, Allstate uses Tracker to make each of the carrier's filings with insurance departments throughout the country. Allstate is licensed in all states in the U.S.