OARBIC releases new transactional insurance portal

OARBIC, a specialized IT consulting firm for the property and casualty insurance industry, has just released a new transactional insurance portal called the OARBIC Software Enterprise Application (OSEA).
OSEA provides a customizable ‘front end’ and dynamic link to one or many legacy systems, while optionally externalizing business rules and workflows. It is a technology framework using ACORD/CSIO XML standards to provide carriers with market agility and brokers with straight-through processing. At the same time, it leaves the mostly static, complex “back-end” processing in the legacy system.
OSEA offers property and casualty carriers an incremental, low-risk, manageable cost alternative to full-scale policy management system replacements, OARBIC says in a release.
The solution’s J2EE three-tier architecture is designed to leverage a carrier’s investment in their legacy application(s), while providing greatly improved system flexibility, and reduced processing cycle times.
OSEA gathers data through its HTML screens from the legacy system(s) or directly from broker management systems. It then applies edits, third-party data, underwriting rules and cross-data verification to gather in its “work-in-progress” database all of the required information for the transaction at hand.
OSEA then passes, through customizable interfaces, the transaction data to the legacy system(s) for processing, storage, downstream printing, reporting and input to other applications.
“Our work over the last six years in implementing Internet broker portals has led us to realize there are few “Web front-end” solutions available that realistically improve business flexibility and reduce implementation complexity,” OARBIC managing partner Anthony Kumnick said in a press release. “In 2003 we started to develop our own solution.
“Integral to the architecture and design was our intimate knowledge of legacy systems architectures. Our goal was to develop a solution that could be attached at the front end of single or multiple legacy applications. In addition, the solution would enable a Services Oriented Architecture and support industry standard messaging like ACORD XML and CSIO. This announcement is a realization of that goal.”