We are proud that Authority Suite 5.0 has already been chosen by our first mid-market customer
Grapevine, Texas (Vocus) June 7, 2010
Camilion Solutions™, a leading provider of product development solutions for insurance, investments and banking and modern P&C policy administration systems that create enterprise product agility, today announced Authority Suite® Version 5.0. With a first customer already signed, this release provides features designed specifically to address the needs of mid-market insurers, including:
- A new highly intuitive user interface
- A new strategic relationship with ISO to accelerate the development and maintenance of ISO products through the efficient use of ISO Electronic Rating Content
- Full support for ISO Personal and Commercial Lines products including up-to-date Base Products (ISO loss costs, rates, rules and form logic), with interpreted content that can be quickly and easily extended with proprietary product features
- The newly-created Camilion Product Factory™, which uses advanced import technology to automatically transform ISO Electronic Rating Content into re-usable and extendable Base Products for initial customer implementation and ongoing maintenance updates
- Support for Microsoft SQL Server
- Industry-standard frameworks that enable simplified integration and extensibility
- The ability to more easily upgrade Authority Suite’s out-of-the-box functionality
- The selection of Discoverture Solutions, a recognized leader in providing technology solutions to mid-market insurers, as Camilion’s preferred implementation partner
Authority Suite, powered by ProductAuthority®, is the most product-agile, rules and tools-based P&C policy administration system that supports ISO and other lines of business. The “no code” solution has sophisticated product configuration capabilities at the core that enables the fast and easy inheritance and re-use of existing pre-built product components such as company rates, rules, forms and calculations from an enterprise repository to accelerate product development. Enabling further product agility, Authority Suite provides configurable workflows that facilitate collaboration, track and manage product development including insurer-specific deviations from ISO programs. Automated workflows dramatically reduce time and effort required to get new or changed products to market, balance workloads and streamline processes with the ability to track and manage all participants, tasks and approvals.
“We are proud that Authority Suite 5.0 has already been chosen by our first mid-market customer,” said Susan Hutt, Camilion’s Senior Vice President, R&D and Services. “Authority Suite 5.0 demonstrates Camilion’s ongoing commitment to the mid-market and to improving our clients’ user experience. We’ve worked with our customers and usability experts to develop user-centric processes and task-flows that make it faster and easier for insurers to write new business and renew existing policies. We’ve simplified the upgrade path for the solution’s out-of-the-box functionality and increased its extensibility. We now also provide complete support for ISO products that go well beyond simple Quick Start templates and can be imported directly into Authority Suite.”
“Camilion was the first policy administration vendor to adopt the program because they realized their modern architecture, best practice product modeling, and advanced product inheritance and re-use capabilities will allow their customers to easily integrate ISO Electronic Rating Content and tailor it for company-specific products,” said Kevin Thompson, Senior Vice President, Insurance Services, ISO. “Time to market is accelerated and data quality is improved because analysis and implementation of the thousands of ISO circulars created per year does not have to be done manually.”
“Having an attractive, easy to navigate with business-user familiar workflow is key to success in the policy management market,” said Kimberly Harris-Ferrante, Vice President & Distinguished Analyst, Gartner. “Having this streamlined front-end, insurers can improve the user experience, drive productivity enhancements, and reduce the long-term total cost of ownership for core applications. Additionally, having the capability to vary workflow and content based upon the role of the user – e.g., customer, agent, underwriter, or customer service representative – will further personalize the experience, improve user satisfaction, and encourage technology adoption.”
“Discoverture is pleased to be a preferred implementation partner for Camilion Solutions,” said Bick Whitener, Vice President, Marketing, Discoverture Solutions. “We feel the combination of the Camilion product offering with the Discoverture implementation capabilities offers the P&C mid-market an excellent value.”
Key Features of Authority Suite 5.0:
Improved User Experience – The redesigned Authority Suite user interface (UI) features a new Quick Access Panel that accelerates policy processing and makes it easy for customer service representatives, underwriters and business users to locate policy information and drill down into customer detail. The new UI allows insurers to rapidly respond to customer and producer inquiries, reduce call times and improve customer service.
Full Support for ISO Rating Products – Camilion, the industry’s first ISO Electronic Rating Content Associate, now offers an innovative solution that allows insurers to more easily develop ISO-Based Products using content interpreted right at the source. While other solutions offer only quick start templates, Camilion’s newly created Camilion Product Factory uses ISO Base Products as components that can be integrated into Authority Suite. This provides the complete ISO product structure an insurer needs to create a tailored product offering. The integration of ISO content with Authority Suite dramatically reduces implementation times and costs, while accelerating time to market.
Simplified ISO Product Updates – Camilion provides a flexible solution for managing ISO product updates and simplifying maintenance. Clients can choose to update their ISO-Based Products on their own using ProductAuthority’s product configuration capabilities, or the Camilion Product Factory can make the product changes for them.
Industry Standard Frameworks – Authority Suite 5.0 is built on open, industry-standard frameworks, which deliver the easy extensibility, scalability and upgradeability that mid-market insurers need to protect their investment longer and avoid the high costs of specialized IT skills. To simplify integration with other core systems, whether legacy or best-of-breed, Authority Suite also includes a standard Integration Framework to enable the rapid development of interfaces for other solutions such as claims, billing, print and third-party information providers.
Since 1971, ISO has been a leading source of information about property/casualty insurance risk. For a broad spectrum of commercial and personal lines of insurance, the company provides statistical, actuarial, underwriting, and claims information; policy language; information about specific locations; fraud-identification tools; and technical services. ISO serves insurers, reinsurers, agents and brokers, insurance regulators, risk managers, and other participants in the property/casualty insurance marketplace. ISO is a subsidiary of Verisk Analytics. For more information, visit http://www.iso.com and http://www.verisk.com.
About Camilion Solutions, Inc.
Camilion Solutions™ is a leading provider of product development and management solutions for insurance and other financial services organizations. Camilion’s innovative software solutions create enterprise product agility by allowing organizations to develop the right product for the right customer at the right time and enabling key strategic initiatives such as product life cycle management, dynamic product bundling and product rationalization.
Some of the world's largest financial services organizations are currently in production with Camilion’s ProductAuthority®, using it as a standalone enterprise product development and management solution, or as the innovative product agility platform on which Authority Suite®, a P&C Policy Administration System, is built. ProductAuthority brings new levels of automation and efficiency to the product development process, enabling organizations to get quality products to market up to 30% faster. Built on a modern rules and tools-based technology platform, Authority Suite is the insurance industry’s most product-agile P&C Policy Administration System.
Founded in 2001, Camilion is a privately owned corporation with offices in Toronto and New York City.
Authority Suite®, ProductAuthority®, Camilion Product Factory™, and related names are trademarks of Camilion Solutions, Inc. All other products and services mentioned are trademarks of their respective companies.