TORONTO, ONTARIO– June 29, 2006 – Pre-Configured Product Templates and Integration with Reporting Engines Enables Easy-to-Implement Best Practice Underwriting and Online Sales
Camilion Solutions, Inc., a leading provider of product management, underwriting and online sales solutions to the insurance industry, today announced the Spring ’06 release of AuthorityUnderwriter(TM) and AuthorityOnline(TM). Accompanying the two new solutions releases are four AuthorityTemplates(TM), pre-configured products and coverages for specific lines of business, which enable commercial and specialty P&C carriers to significantly reduce product definition and launch times. For the first time, AuthorityUnderwriter and AuthorityOnline also provide a set of out-of-the-box, pre-defined management reports and carriers can embed any reports created using virtually any reporting engine.
The four AuthorityTemplates are for Directors and Officers, Employment Practice Liability, Fiduciary/Pension Trust Liability and Crime products and coverages. Some of the pre-configured management reports now available out-of-the-box include Hit Ratio, New Business Premiums, Policies and Premiums by Process Stage, Written Premium Growth and Average Policy Size.
AuthorityUnderwriter, a complete enterprise underwriting solution, and AuthorityOnline, a transactional portal for carriers’ brokers and agents, are powered by ProductAuthority(TM), Camilion’s flagship Product Management solution which gives business users full control over product definitions to launch new and refreshed products in weeks rather than months. The pre-configured workflows provided by AuthorityUnderwriter and AuthorityOnline are based on industry best practices and increase the efficiency of underwriting and online sales processes, enable straight-through processing and provide a vehicle to launch new insurance products with greater speed to market. AuthorityUnderwriter and AuthorityOnline can be.used as configured by Camilion or modified by carriers to match their specific business processes.
“Camilion is the only vendor in the insurance industry that combines an open architecture with underwriting and online sales solutions that include line-of-business-specific, pre-configured products and coverages,” said Ross Orrett, President and CEO of Camilion Solutions. “Our industry solutions are proven to radically shorten product time-to-market and sales cycles by reducing processing and handling time and eliminating redundant data entry. With pre-configured products in AuthorityTemplates and even more sophisticated integration capabilities, these Spring 06 releases are faster and easier to implement, so carriers can quickly realize these crucial benefits.”
About Camilion Solutions, Inc.
Camilion Solutions, Inc. is the leading provider of Product Management solutions for the insurance industry, enabling insurance companies to quickly and efficiently launch new products into target market segments and manage the increasing complexity and proliferation of product features across multiple
channels, without having to replace existing legacy systems. Founded in 2000, Camilion Solutions, Inc. is a privately owned, venture capital funded corporation headquartered in Toronto, Canada. For more information about Camilion and its products and services visit us at www.camilion.com.