Over 100 Insurer Executives Have Rated Their Experience With Tech Vendors in Novarica ACE Rankings

November 10, 2008 (New York): Novarica, a research and advisory firm, announced that its Novarica ACE Ranking™ reports, which document the Average Customer Experience of insurers with various technology solutions, have collected insights from over 100 insurers on more than 25 different products. With rankings already published on solutions from CSC, Guidewire, Hyland, iPartners, Vertafore and others, and more a dozen more in progress, Novarica is well on its way to rate over 100 solutions by mid 2009.

“One of the most important diligence items for insurers choosing a new solution is to obtain information about existing customer experience with both the product and the vendor organization,” said Gary Givler, a vice-president at Cincinnati Insurance Company. “Novarica ACE Rankings can provide technology buyers with unique insights early in the evaluation process.”

“The Novarica ACE Rankings are a great way for our prospects to understand current client experience, with information from a source they can trust,” said Robert Lasher, president of iPartners, whose Insurance Scorecard product scored a 98 for overall customer satisfaction in a ranking this fall. “There is really nothing else where you can see what peers are saying about solutions from an independent source. We have received positive feedback from our clients about the entire ranking process.”

“Our goal is to provide a quantitative, independent average ranking of customer experience across the critical areas of staff, organization, functionality, and technology for each and every significant insurer software solution on the market,” said Matthew Josefowicz, director of the insurance practice at Novarica, and lead researcher of the Novarica ACE Rankings™ project which is described online at http://www.novarica.com/acerankings.shtml.

Novarica ACE Rankings™ are produced independently and are not sponsored by vendors. Novarica solicits rankings directly from its own network of insurer contacts as well as through vendor referrals. Scores are published as soon as five qualified rankings are received and verified. Novarica also announced today its first ACE Gold Ranking™, based on 10 verified opinions, of Vertafore’s ImageRight solution.

Insurer executives may visit http://www.novarica.com/acerankings.shtml to rank the solutions that they are familiar with. Each ranking earns the insurer a $500 credit towards any Novarica report or a free copy of the ranking for that solution.

Additional solutions currently in the process of being ranked by insurers include:

AgencyPort’s AgencyPortal, Cincom Eloquence (document composition), Fiserv URS (reinsurance) and WCMS (workers comp); EZ Data SmartOffice (SFA); OneShield Dragon, InsureSoft Diamond, and Instec QuickSolver (P/C policy administration); AdminServer, and Solcorp INGENIUM (life/annuity policy administration).

About Novarica

Novarica provides information, insights, and perspective on markets, operations, and technology to financial services and insurance executives and project teams. The company delivers its service through published research, retained advisory services, and project-based consulting. Novarica’s research includes market and trend analyses, best practices research, case studies, and independent analyses of insurance software vendors including the Novarica Market Navigators™ and Novarica ACE (Average Customer Experience) Rankings. Novarica is a division of Novantas, LLC, the leading management consultancy and information services provider for the financial services industries. 212-419-2520 or www.novarica.com.