New Version Optimizes SERFF, Ensures Regulatory Content Up-to-Date
MARKHAM, Ontario, Dec. 8, 2005 – InSystems Tracker 6.3, software that streamlines creating new insurance products and securing state regulators’ approvals to boost speed-to-market, has been introduced by InSystems, the specialists in complex document and compliance automation for insurance and financial services organizations.
Tracker’s seamless direct integration with the NAIC’s System for Electronic Rate and Form Filings (SERFF) makes SERFF dramatically faster and more productive for companies. In side-by-side testing Tracker slashed the time for multi-state filings by 60% to 70% versus using SERFF alone. Additionally, with Tracker, insurers can now pay filing fees via EFT for fully electronic filing.
“Based on feedback from dozens of carriers using Tracker with SERFF, we’ve optimized the user experience to make it even faster and easier,” said Neil Betteridge, Vice President, Marketing.
Keeping up with constantly changing rules, procedures and forms required by 50-plus states and jurisdictions when filing policies is time consuming and error prone. Insurers can avoid the effort and risk by letting InSystems compliance experts maintain this content. With the new version of the Regulatory Specialist module in Tracker 6.3, content updates are distributed to carriers through automatic electronic updates as often as needed.
Leveraging Tracker’s project-team collaboration and workflow capabilities helps insurers of all types better manage the complex, cross-functional process of product development, Betteridge added. The product also lets all interested parties see the status of all product initiatives at a glance.
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.