What’s New: In brief (May 24, 2006)

Technology and IT outsourcing solutions provider MFX is using its web-based WriteNow point-of-sale underwriting and issuance application as the platform behind Pan-American Life’s bancassurance newly released product, Simple Life. WriteNow was designed by MFX to qualify, rate, quote, bind and deliver policy documents in any language, in minutes. MFX is providing Pan-American with an application service provider (ASP) based model allowing Pan-American to maintain complete control of product rates, business rules and to underwrite cases by exception. Simple Life has been developed on the WriteNow platform to provide Pan-American’s distributors with real time access to all account and historical information including quotes and policies in their own underwriting system. WriteNow secures information and transactions against unauthorized access, provides 24 x 7 technical support and all data is backed-up in multiple locations.

InsFocus Systems Ltd. has released a new version of InsFocus BI, a business intelligence system for insurance companies. The new version, InsFocus 1.1, contains new features including a modified query engine, which was redesigned using the latest development environment – Microsoft Studio 2005. The new query engine can be accessed from other programs as an Application Program Interface (API), enabling integration of InsFocus as part of a company’s operating environment. It supports advanced claims run-off analysis. InsFocus BI 1.1 includes advanced filters enabling cross-selling and up-selling reports. The new version generates analyses based on specific time conditions, as well as combined reports of multiple clients or agencies. A built-in data integration module with external data sources was added to the new version. In addition, InsFocus BI 1.1 allows drill down enhancement to the lowest level of granularity such as sections within policy, payments within claims etc.