Software offers insurance policy administration.
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Press Release Summary:
Intended for Property and Casualty insurance market, Authority Suite® v4.0 supports entire policy lifecycle, including application data capture, qualification, rating, quote management, bind, issuance, and endorsement. Program enables users to select forms based on name, number, or description. Out of sequence endorsement processing automatically flags need for underwriter intervention, while product configuration features allow sharing and re-use of product data and rules.
Original Press Release:
Camilion(TM) Solutions Releases Latest Version of Authority Suite®
Modern Policy Administration System Gives Property and Casualty Insurers Product Agility Required to Enter New Markets and Change Products Quickly
TORONTO, Jan. 14 /-- Camilion Solutions, a leading provider of insurance product development solutions and modern policy administration systems, today announced the availability of Authority Suite(R) V4.0, a single-solution policy administration system for the Property and Casualty insurance market. A complete policy administration solution built on the industry's most modern, tools and rules-based technology platform, this release of Authority Suite includes an enhanced user interface (UI), sophisticated forms selection capabilities, complete out of sequence endorsement functionality and extensions to its highly-differentiated product configuration engine.
While continuing to provide a UI that can easily be configured for the specific needs of an insurer, Authority Suite's new "out-of-the-box" UI includes a modern look and feel, along with improved navigation that will increase productivity and shorten system training requirements. Productivity is further improved as Authority Suite users can now select forms based on name, number or description, the creation and modification of forms rules has been significantly simplified, and conflict resolution is streamlined through out of sequence endorsement processing that automatically flags the need for underwriter intervention. Product configuration enhancements in Authority Suite 4.0 will allow for easier sharing and re-use of product data and rules allowing even greater product agility, particularly important to insurers who want to quickly enter new markets or modify existing offerings to remain competitive.
"We continue to work closely with our customers, many of whom are the world's largest P&C insurers, to identify innovative and deeper functionality for Authority Suite," said Ross Orrett, President and CEO, Camilion Solutions Inc. "In the months ahead, product agility will be increasingly important for P&C insurers as they prepare to compete in a difficult market. As well as providing all of the core functionality expected from a modern policy administration system, Authority Suite provides the capability for unprecedented product agility enabling insurers to quickly enter new states and niche markets and capture market share from the less innovative. Its new underwriting features and enhanced product configuration capabilities will also be instrumental in maintaining or reducing underwriting and system maintenance costs."
About Authority Suite(R)
Leveraging a Service-Oriented Architecture and built on the most modern, tools and rules-based technology platform, Authority Suite supports the entire policy lifecycle including application data capture, qualification, rating, quote management, bind, issuance, all the required policy endorsement functionality and easy integration to other enterprise systems. Authority Suite, which features a consolidated underwriting workstation and straight through processing (STP), is powered by Camilion's ProductAuthority(R), the world's only "pure" product configurator built from the ground up for insurance. ProductAuthority creates agility by externalizing all product data and rules from multiple, hard-coded operational systems into a central repository, where complex products can be easily configured and modified.
About Camilion(TM) Solutions Inc.
With customers who are the world's largest insurers, Camilion Solutions, Inc. (authoritysuite.com) uses its deep knowledge of insurance to create software solutions that enable insurers to develop new or modified products more quickly than competitors, automate underwriting, enable straight-through processing for online sales, and deploy an agile, modern technology platform to better support growth and expense reduction. Camilion is a privately owned corporation established in 2001 with offices in Toronto and New York.
Authority Suite(R) and ProductAuthority(R) are registered trademarks of Camilion(TM) Solutions, Inc. All other names and trademarks mentioned are the property of their respective owners.
