HARTFORD, Conn. – August 22, 2006 – Kingsway Financial Services Inc., a property-casualty insurer with extensive operations in the United States and Canada, has contracted with Insurity, a ChoicePoint® company, to deploy Insurance Decisions, a comprehensive suite of products and services for insurance processing. Insurance Decisions will provide rating, quoting, underwriting, issuance, billing, reinsurance, claims administration, management-reporting and bureau-reporting services for Kingsway.
Kingsway staff will access the Insurance Decisions platform, hosted at Insurity�s data center, via a secure Web connection.
�We wanted to have a single insurance platform supporting our diverse lines of business and distribution channels,� said Claude Smith, Kingsway vice president and chief information officer. �Insurance Decisions met our objective of delivering all of our processing needs on a single platform. Insurity�s knowledge of commercial lines was also important.�
�Companies looking for operational efficiency, combined with reductions in expenses and infrastructure burdens are increasingly turning toward outsourcing,� said David Pedersen, Insurity senior vice president. �They need a multidimensional vendor providing insurance expertise, comprehensive processing capabilities and support for multiple business segments � a partner that helps the company get new products to market faster without any IT bottlenecks. We�re delighted to serve this premier North American insurer.�
Kingsway Financial Services Inc. is the largest truck insurer in North America and the seventh largest non-standard-automobile insurer in North America. Kingsway�s primary business is trucking insurance and the insuring of automobile risks for drivers who do not meet the criteria for coverage by standard automobile insurers. The company (www.kingsway-financial.com) currently operates through eleven wholly-owned insurance subsidiaries in Canada and the U.S. Canadian subsidiaries include Kingsway General Insurance Company, York Fire & Casualty Insurance Company and Jevco Insurance Company. U.S. subsidiaries include Universal Casualty Company, American Service Insurance Company, Southern United Fire Insurance Company, Lincoln General Insurance Company, U.S. Security Insurance Company, American Country Insurance Company, Zephyr Insurance Company and Avalon Risk Management, Inc. The company also operates reinsurance subsidiaries in Barbados and Bermuda. The common shares of Kingsway Financial Services Inc. are listed on the Toronto Stock Exchange and the New York Stock Exchange under the trading symbol �KFS�.
Insurity, a ChoicePoint company, protects insurers from underwriting risks, claims fraud, compliance exposures, escalating expenses and premiums, and unfavorable ratios. Headquartered in Hartford, Conn., Insurity offers Insurance Decisions�the most comprehensive software and services in the property/casualty industry covering rate, quote, issuance, administration, billing, claims, reinsurance, data warehousing, compliance support, regulatory reporting, hosting, and managed services. Customers include more than half of the nation�s top 20 commercial lines carriers as well as regional carriers, specialty lines writers and MGAs. For more information about Insurity, please call 860-616-7721 or visit www.insurity.com.
ChoicePoint (NYSE: CPS) helps businesses, government agencies and nonprofit organizations make better decisions through information and technology solutions. Each year, ChoicePoint helps more than 7 million people get the jobs they deserve and more than 100 million people get fairly priced home and auto insurance. Small businesses can obtain affordable commercial insurance because of our products. Businesses grow revenue with our marketing services and cut costs through our authentication and anti-fraud tools. Government agencies use our data and technology to fulfill their missions in all parts of the world. Visit www.choicepoint.com for more information.