ARMONK, NY–[November 13, 2002]–Sherwood International has completed the implementation of a group administration version of its FrontTier application, a processing and workflow management solution, at Reliance Standard Life Insurance Company (RSL), a leading provider of group employee benefits insurance products headquartered in Philadelphia. RSL is the first group insurance provider to implement FrontTier.
By implementing FrontTier, RSL replaces multiple mainframe-based legacy systems with a single customized application. Legacy systems that are not being replaced are completely integrated with the application. Third-party solutions for document imaging, contracts generation and data warehousing are also completely integrated with FrontTier. RSL’s new quotation, proposal and policy administration system involves all of RSL’s 24 sales offices across the U.S. and 16 separate product lines.
“When we made the decision to launch a new policy administration system, we selected FrontTier because of its flexibility, allowing us to replace old legacy systems while at the same time creating interfaces with systems we’d need to hold on to for a little while longer,” says Frank Newdeck, RSL’s chief information officer. “Working with FrontTier has been extremely efficient for us. We can now incrementally phase out legacy systems that either can no longer be maintained in a cost-effective manner or inhibit the growth of our business. Sherwood was able to offer us the most comprehensive solution to support our customers, giving us more flexibility and functionality than any other product we reviewed.”
Steven Bessellieu, President of North America for Sherwood International, commented: “Dealing with outdated legacy systems is an issue that many insurers currently face. The ‘rip & replace’ approach is often not financially viable, so more and more insurers are looking at legacy revitalization options to save costs and be able to provide customers with better and faster service offerings. FrontTier has enabled RSL to do just that and, as a result, the company is now successfully launching a new policy administration system.”
FrontTier delivers a comprehensive suite of Insurance business solutions that include quotation, administration, customer service, policy administration, claims management, rating, billing, document issuance, accounting and statistical reporting. FrontTier is a proven software platform for rapid, low risk implementation of insurance based systems. It gives customers control over their business, reduces insurance processing costs and allows new products to be brought to market more quickly. Unlike traditional insurance administration software, FrontTier can be easily tailored to mesh with existing systems, business processes and unique products while providing measurable improvements in efficiency.
About Sherwood International:
Founded in 1970, Sherwood International is a leading provider of software solutions and services to the global financial services industry and UK government.
Through major offices in London, New York, Toronto, Glasgow andBangalore, Sherwood International serves over 120 clients in the Life & Annuities, P&C and Reinsurance sectors including international blue-chip companies in the wholesale and retail insurance industry.
Sherwood international (Symbol: SHC) is quoted on the London Stock Exchange.
Visit Sherwood International’s Web site at www.sherwoodinternational.com for
About Reliance Standard Life Insurance Company:
Reliance Standard Life Insurance Company (RSL) is a wholly owned subsidiary of Delphi Financial Group, Inc. (NYSE: DFG), an integrated employee benefit services company. Delphi is a leader in managing all aspects of employee absence to enhance the productivity of its clients and provides the related insurance coverages: group long-term and short-term disability, excess and primary workers’ compensation, group life, and travel accident. Delphi’s asset accumulation business emphasizes individual annuity products. Delphi’s common stock is listed on the New York Stock Exchange under the symbol DFG and its corporate website is www.delphifin.com. For more information on RSL visit www.rsli.com.