Frisco, TX (PRWEB) March 11, 2008
Skywire Software, a leading global provider of software and services to the insurance industry, is proud to congratulate three customers who have been named “2008 Model Carriers” by independent analyst firm Celent.
FBL Financial Group, Inc., Insurance House and Assumption Life have been recognized for best practices in the use of technology to support the product and policyholder life cycle. All three companies use Skywire Software products in their award-winning implementations.
“Celent’s Model Carrier research is designed to answer the question, ‘What would it look like for an insurance carrier to do everything right with today's technology?’” said Chad Hersh, Celent senior analyst and co-author of the report. “The carriers recognized in our research are using technology to make their businesses more flexible, more responsive to customer needs, and better positioned for growth.”
Celent recognized FBL Financial Group, a holding company, in the category of document automation for its policy document management initiative. Using Skywire Software’s Documaker customer communications management (CCM) suite, FBL, through its insurance companies, was able to improve its time to market by 25 percent, cut the load time for new policy documents from months to days, and reduce document creation staff by one-quarter. Celent recently cited Documaker as having the largest install base of any product examined in its study, Document Automation Solution Vendors for Insurers 2007. Skywire Software ranked as a leader across all four categories studied: advanced technology and flexibility, breadth of functionality, customer base and depth of client services.
“We are very pleased to be recognized for the work that we have done with Skywire Software,” said Marlene Alberigo, senior application consultant at FBL. “The Documaker suite provides us with a single solution for creating, distributing and publishing policies, statements, bills, and correspondence. Documaker’s flexible, rules-driven environment and modern architecture have helped us measurably improve our business and win recognition from Celent.”
Celent recognized Insurance House in the category of infrastructure and architecture, for its enterprise data model and warehouse project. The insurer is using Skywire Software’s INSsight data warehouse to provide analysis tools around policy and claims. Internal reports and product design analytics are now produced in near-real time, and the reduced integration costs have allowed the insurer to reduce IT head count by half.
In the policy administration category, Celent honored Assumption Life for its straight-through processing initiative. The carrier’s e-application system has tripled the number of policy applications processed, reduced policy issuance time to an average of 24-48 hours, and increased the frequency of agent commission payments from twice a month to twice a week. Assumption Life is using CCM software from Skywire Software to produce agent commission reports and nearly all customer-facing documents.
“Having three of our customers recognized as model carriers is a validation that our software provides enterprise-wide flexibility across multiple lines of business, helping insurers manage the complete policy life cycle,” said Wendy Gibson, chief marketing officer at Skywire Software. “We are very pleased to congratulate all our model carriers, and proud to have helped them improve their operations.”
Skywire Software is a leading provider of software and services to the insurance industry, serving more than 1,450 insurance companies. In addition to CCM software and INSsight, the company provides other best-in-breed software components, including the Insbridge rating, rules and underwriting system, and Tracker, which automates the entire state filing process. These components extend core administration systems and assist insurers in managing the life cycle of a policy. Customers also leverage the deep insurance domain knowledge and expertise of Skywire Software’s professional services team.
About Skywire Software:
Skywire Software is a leading global software company serving the insurance, financial services, legal and professional services industries. The company develops industry-specific software products that help companies integrate processes, people and information. With products and services that span a range of key functions, including rating, rules, underwriting, business intelligence, data movement, and enterprise-wide document automation and compliance, Skywire Software is dedicated to providing an unparalleled customer experience to more than 2,400 customers in 45 countries worldwide, including 1,450 insurance customers. For more information, contact Skywire Software at 1-800-735-6620 or visit http://www.skywiresoftware.com.
Media Relations Specialist
(506) 855-0005, ext. 521
3000 Internet Blvd.
Frisco, Texas 75034