May 29, 2003 (Toronto) – Rural Mutual Insurance Company has introduced a leading-edge policy management, information reporting and point of sale technology solution from Toronto-based Tritech Financial Systems Inc. and Picom Software Systems Ltd.
Tritech’s General Insurance Management System (GIMS) is a modular client-based solution that automates and streamlines key functions such as policy underwriting, claims management, reinsurance and financial reporting. Designed for productivity gains and improved service, it offers flexibility in terms of servers and user interfaces, while providing ease of access through leading relational databases. GIMS is a full processing solution that improves an insurer’s ability to integrate functions, lower expense ratios and reduce errors.
Picom’s technology platform uses a proprietary Reverse Data Model that permits automatic, online retrieval and use of information from a centralized business repository. Built on open, integrated and scalable architecture, Picom gives insurance companies easy access to unified customer and agent data across all lines of business and products. This leads to significant improvement in customer service and stronger relationships with agents and brokers.
Point of Sale (POS) is Tritech’s agency automation solution that allows single entry processing for any line of business in any state or province in North America. It provides such functions as client contact, quick quote, risk scoring, expert underwriting and upload of accepted applications to head office systems. POS supports a stand-alone Windows or Web-based deployment.
Rural Mutual Insurance Company was founded in 1934 and is the largest provider of farm-based insurance business in Wisconsin. The company writes more than $120 million in premiums through 160 agents. Affiliated with the Wisconsin Farm Bureau, RMIC offers a full line of insurance services to farmers, individuals and businesses, including auto, life and health and farm and agribusiness coverage.
“This integrated solution from Tritech and Picom gives insurance companies like RMIC the means to get much more out of their systems and business processes,” says Bob Symons, president of Tritech Financial Systems Inc. “These are full, end-to-end systems that improve access to information and, ultimately, raise the bar for customer service.”
“Our information reporting and analysis technology drastically cuts operational costs by reducing paper, printing and archiving expenses, improving communication with various distribution channels and eliminating data integration problems,” says Picom CEO Ron Linder. “Our clients experience substantial return on investment within a few months.”
Symons notes that Tritech’s GIMS and POS systems and Picom’s unique portal-based enterprise report management product can be easily adapted to any size of insurance company, from smaller MGAs to top ten financial services firms. Tritech and Picom have implemented solutions for stock and mutual insurance companies in USA, Canada, Israel, Bermuda and the Caribbean.
“These systems are capable of seamlessly automating a complex set of insurance company requirements, while providing users with flexibility,” says Symons.
About Tritech Financial Systems Inc.
Tritech Financial Systems Inc. was established in 1992 by the merger of insurance software vendors and has over 20 years of experience in the property and casualty industry. Tritech’s ability to sustain and grow its position in the marketplace is ensured by a strong customer base in North America and abroad. Our combined resources have provided the critical mass required to meet the needs of both large and small companies. Over the years, Tritech has built a highly qualified staff that merges expertise in insurance with the latest software engineering technology. Tritech remains dedicated to the insurance community and continues research and development efforts to meet the changing needs of this marketplace. For more information, visit www.trifin.com
About Picom Software Systems Ltd.
Established in 1998 by industry experts, with offices in Boston, Toronto and an R&D facility in Israel, Picom is a leading provider of software solutions to the financial sector. Picom delivers customer, broker and agent centric views for insurance companies and other financial institutions. Picom’s suite of off-the-shelf solutions extract, aggregate, analyze data locked in legacy corporate systems and diverse applications, and displays the results via portlets on an e-business portal in a clear, web-centric view. Picom software solutions effectively manage and streamline the flow of mission critical information to all internal and external users such as: customers, suppliers, agents, partners and employees, enabling the sharing of accurate information, quick response and effective decision making. For more information, visit www.picomsoft.com
About Rural Mutual Insurance Company
Rural Mutual Insurance Company began operations in 1934, providing auto insurance to members of the Wisconsin Farm Bureau Federation. Since then, it has grown into a full-service provider of property and casualty and life and health insurance services to residents and businesses of Wisconsin. A specialist in farm and agribusiness insurance and loss reduction services, RMIC is the largest insurer of farms in the state of Wisconsin. For more information, visit www.ruralins.com.