Software Reduces Compliance Risk, Boosts Speed to Market
Markham, Ontario – October 11, 2005 — InSystems Writer, software that lets insurers create state-specific filing documents and policy-issuance templates faster, easier and with less compliance risk, has been introduced by InSystems, the specialists in complex document and compliance automation for insurance and financial services organizations.
Using one master document, InSystems Writer automatically produces state-specific documents for filing with state insurance regulators. The new-product developer specifies in the master document how wording applies to states, lines of business and products. Only the master is modified to make changes, thus eliminating updates to multiple documents.
The software lets users create state-, product- and line-of-business-specific documents for filing at the touch of a button, without having to reengineer the process for creating product wordings.
Managing multi-state compliance has long vexed insurers. Previously, the product developer had to manually cut and paste wordings to create state-specific documents for filing, plus manage separate documents for each state and the master version containing all wordings.
“InSystems Writer reduces compliance risk and errors by centralizing all wordings while eliminating bottlenecks that slow the filing and policy wording template creation processes,” said Neil Betteridge, Vice President, Marketing.
InSystems Writer also compresses timelines by letting users prepare for policy issuance as soon as the document is ready for internal reviews, without risking loss of work as the document moves through internal and state-filing approvals. It reduces the effort required to bring a new product to market by automatically translating the master document into a template for policy production, thereby also ensuring that the document used for issuance is identical to what has been filed and approved.
Running with Microsoft Word, it’s easy to use for businesspeople. A short learning curve means immediate results.
InSystems specializes in complex document and compliance automation for insurance and financial services. Its software solutions allow organizations to achieve operational excellence by automating the creation, management and multi-channel distribution of customized documents, and streamlining the product development and regulatory filing processes. InSystems’ solutions give business users more control, with less dependence on IT resources. These solutions are developed, delivered and supported by a team with specialized knowledge and experience. InSystems (www.insystems.com) has more than 350 insurance customers, including over 50 of the 100 largest insurance groups in North America. InSystems, founded in 1989, is a subsidiary of Standard Register (www.standardregister.com) a $1 billion provider of information solutions.