February 1, 2005 (Wisconsin) � Rural Mutual Insurance Company has gone live with Phase iii of a leading-edge Enterprise P&C solution from Tritech Financial Systems Inc. and Picom Software Systems Ltd. Phase i went live May 29, 2003 with Personal Auto, Business Auto, Homeowners and Personal Umbrella. Phase ii went live May 09, 2004 with Farm, Country Estate, BOP and Excess. Phase iii went live January 4, 2005 with CPP and Workers Compensation.
Tritech�s General Insurance Management System (GIMS) is a modular client-based solution that automates and streamlines all key functions of a P&C company, such as Policy underwriting, Claims management, Reinsurance, 3rd party interfaces, Agent Portals, Document issuance 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.
Rural Mutual Insurance Company was founded in 1934 and is the largest provider of farm-based insurance business in Wisconsin. The company writes approximately $140 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.
RMIC chose Tritech to develop a Workers Compensation system over other vendors as this enabled RMIC to include WC in a single system supporting all lines of business. �This integrated solution 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 integrate all lines of business, improve access to information, dramatically reduces costs and, ultimately, raises 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 portal-based content delivery product can be easily adapted to any size of insurance company. Tritech and Picom have implemented solutions for stock and mutual companies in USA, Canada, Israel, Cyprus, Bermuda and Puerto Rico.
Rural views the new technology as having a significant influence on the way the company does business. The new integrated computer system provides greater availability and access of information to agents, underwriters and adjusters as well as to home office staff. Direct entry of information by agents eliminates duplicate work, improves accuracy and speeds delivery of policy information back to the customer.
Tritech Financial Systems Inc. was established in 1992 to introduce an Open Systems platform for Property & Casualty insurers. Tritech�s solutions support leading database tools and NT Server, Linux or Unix host computers with Windows GUI and Browser desktops. Tritech’s ability to sustain and grow its position in the marketplace is ensured by a strong customer base in North America. 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 , or email [email protected]
Established in 1999 by industry experts, with offices in 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 in 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 , or email [email protected]
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, RMIC is the largest insurer of farms in the state of Wisconsin. For more information, visit www.ruralins.com , or email [email protected]