Sherwood will be foundation for TransGuard operations
ARMONK, NY — July 10, 2002 — Sherwood International has
entered into a multimillion dollar license and implementation agreement with TransGuard
Insurance of America, the largest multi-line insurance company in the United States
focused on the trucking industry. Chicago-based TransGuard will automate its business
operations and enterprise systems using Sherwood’s FrontTier processing and workflow
management application and ProCede reinsurance solutions.
Sherwood International’s FrontTier and ProCede products
will help TransGuard automate its business processes and distribution infrastructure,
allowing TransGuard to significantly improve its customer service, reduce the cost of
operations and -as a result- increase its competitive advantage.
The implementation of FrontTier and ProCede at TransGuard
will include quote, policy administration, billing, accounting, claims management,
workflow automation, statutory reporting, management reporting, ISO rating interfaces and
call center integration.
“We went through an extensive multi-vendor selection
process to identify our solutions partner for the future” said Gene Garbaccio, vice
president program management, TransGuard. “We needed an enterprise system which could
support our aggressive growth plans. We chose Sherwood because it offers us a flexible and
future-thinking business solution that will let us provide a wide variety of products and
services to new and existing markets.”
“Customers such as TransGuard are a testament to the
ability of our products to transform insurance companies into powerful e-business
operations,” said Steven Bessellieu, president of North America for Sherwood
International. “We are excited that TransGuard has chosen Sherwood and are committed
to identifying new ways for it to improve efficiencies, reduce processing costs, and
ultimately increase customer satisfaction and market share.”
About FrontTier:
FrontTier delivers comprehensive Property & Casualty business solutions that include
quotation, administration, customer service, policy administration, claims management,
rating, billing, document issuance, accounting and statistical reporting. FrontTier gives
customers control over their P&C business, reduces insurance processing costs and
allows for new products to be brought to market more quickly. Unlike traditional insurance
administration software that supports products and transactions for insurance operations,
FrontTier supports the full processes insurance companies must complete to be effective.
About ProCede:
A tightly integrated reinsurance management system, ProCede supports all the functions of
a ceded reinsurance program. It places premiums with the correct reinsurers, tracks
receivables and payables, handles accounting and cash management, as well as produces
regulatory reports. ProCede’s innovative technology and system design enable it to
administer multi-layered pro-rata and excess-of-loss contracts, and to manage retroactive
processing and multi-line claims calculations. ProCede streamlines the workflow of
transaction management, and offers automatic reminders on claim inquiries and follow-up
notices, as well as proof of previous losses, through its diary component. ProCede
operates as a stand-alone solution but it is equipped to interface with customers’ existing systems.
About Sherwood International:
Sherwood International, founded in 1970, is a provider of software and solutions to the
global financial services industries and UK government sectors, and is quoted on the London Stock Exchange.
Sherwood International has over 120 global clients in the
Life & Annuities, P&C and Reinsurance sectors, which include international
blue-chip companies in the wholesale and retail insurance industry.
Visit Sherwood International’s Web site at
www.sherwoodinternational.com,
for additional information
About TransGuard:
TransGuard Insurance of America, Inc., a subsidiary of SIRVA, is the largest multi-line
insurance company in the U.S. serving the moving and storage sector as well as other
segments of the transportation industry. It provides insurance to moving and storage
agents, motor carriers, independent truckers; as well as personal lines through unique
access to leads through corporate relocation and moving and storage businesses. SIRVA is a
global provider of relocation, moving, logistics, insurance, and related financial
services to corporations and consumers. SIRVA’s premier brands include: SIRVA Relocation
provider of global relocation solutions and comprehensive transferee services; North
American, Allied, Global, Pickfords (in the U.K.), and Allied Pickfords (in Europe,
Australia, New Zealand and Asia), all leaders in moving and storage services;
northAmerican Logistics (nAL), global provider of contract logistics, transportation
management and specialized transportation services; and TransGuard.
