A.M. Best Co. Presents E-Fusion Award for Underwriting Management to New York Central Mutual Fire Insurance Co.

OLDWICK, N.J. -- The A.M. Best Co. presented New York Central Mutual Fire Insurance Co. with the E-Fusion award in the Underwriting Management category at the 2004 A.M. Best Co. Insurance and Technology Conference in Baltimore Oct. 19. The award recognizes innovation in insurance technology.

New York Central Mutual Fire Insurance Co. was recognized for its proprietary implementation of ISO's HomeValue system, which allows homeowners, underwriters, agents and third-party partners to access residential replacement valuations through a single Web-based interface.

The HomeValue system is prefilled with actual property characteristics for individual properties, so entering an address provides an instant estimate of replacement value in most cases. New York Central Mutual users can also automatically access ISO A-Plus reports, providing seamless access to claims data for underwriting decision making. Another important capability is integration of key underwriting information. The HomeValue system has increased New York Central Mutual's underwriting efficiency and reduced the possibility of inaccurate valuations due to error or data manipulation.

The finalists and the purpose of their project were as follows:

--Baltimore Life Cos.--An electronic application and automated underwriting system that improves underwriting and issue efficiency by using a call center, electronic application, automated underwriting and voice-recognition signature technology.

--Bristol West Insurance Group--A Web-based point-of-sale underwriting system that allows producers to underwrite, quote, issue and service private passenger automobile insurance policies.

--Columbia Insurance Group--A system that allows an agent to quote and then submit a policy for issue without having to refer to rating or underwriting manuals.

--IMT Insurance Co.--An automated underwriting system that enables agents to quote and issue new automobile policies as well as changes to existing automobile policies.

--RLI Insurance Co.--An intranet application for field underwriters to clear submissions; quote, rate and bind new and renewal business, and perform subsequent policy activity.

The awards were judged by Michael Edwards, chief information officer, American Skyline Insurance Co.; William Jenkins, CPCU and insurance technology consultant; Matthew Josefowicz, manager, Insurance Group, Celent Communications; Robert Litt, partner, KPMG LLP Information Risk Management; Chuck Johnston, director, industry marketing, Callidus Software; Thomas A. Meyers, senior vice president and chief financial officer, New Jersey Manufacturers Insurance Co.; and Philip Roeper, chief information officer and senior vice president, American Re-Insurance Co. In addition, the A.M. Best Co. executives who participated in the judging were Paul C. Tinnirello, executive vice president and E-Fusion conference chairman; Lee McDonald, vice president and E-Fusion program chairman; Group Vice President Rita Tedesco and Vice President James Snee.

A.M. Best Co., established in 1899, is the world's oldest and most authoritative insurance rating and information source. For more information, visit A.M. Best's Web site at http://www.ambest.com.