AdminServer and Rivers Wave Consulting Announce Strategic Alliance.CHESTER, Pa. -- New partnership provides enhanced data management between insurer and reinsurer re·in·sure tr.v. re·in·sured, re·in·sur·ing, re·in·sures To insure again, especially by transferring all or part of the risk in a contract to a new contract with another insurance company. with XML XML in full Extensible Markup Language. Markup language developed to be a simplified and more structural version of SGML. It incorporates features of HTML (e.g., hypertext linking), but is designed to overcome some of HTML's limitations. rules-based interface AdminServer, Inc. today announced that they have established a strategic alliance with Rivers Wave Consulting Limited, the developer and provider of Rivers Wave I(3) (Insurance Information Integration), XML-based, secure frameworks for the global reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. industry. These new partners were introduced to each other through the efforts of Wilton Re. As a new player in the life reinsurance industry, and starting with a clean slate Noun 1. clean slate - an opportunity to start over without prejudice fresh start, tabula rasa chance, opportunity - a possibility due to a favorable combination of circumstances; "the holiday gave us the opportunity to visit Washington"; "now is your chance" , Wilton Re was determined to build the very best solution possible for handling the transmission, integrity, and administration of customer data. Wilton's search resulted in the selection of both AdminServer and Rivers Wave for the task of building the back-office infrastructure envisioned by COO, Enrico Treglia and CTO (Chief Technical Officer) The executive responsible for the technical direction of an organization. See CIO and salary survey. , Andy Wood. Treglia knew that incorporating industry standard ACORD ACORD Association for Cooperative Operations, Research and Development ACORD Agency for Cooperation and Research in Development ACORD Association de Coopération et de Recherche pour le Développement (French) XML was the best approach to building his new back-office. "Both Rivers Wave and AdminServer proved to be the most responsive, the most flexible, and the most creative vendors in their space. They have been invaluable partners in helping to build our vision." By integrating their complementary solutions, AdminServer and Rivers Wave Consulting offer the insurance and reinsurance industry dramatic improvements in data integrity and transmission efficiency. The Rivers Wave I(3) outsourced data management system and AdminServer's rules-based administration system, together, provide a powerful and seamless solution using XML for reinsurers looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. end-to-end transaction integrity and data availability Refers to the degree to which data can be instantly accessed. The term is mostly associated with service levels that are set up either by the internal IT organization or that may be guaranteed by a third party datacenter or storage provider. . The integrated solution enables reinsurers to accept detailed and accurate policy and transaction data submissions in any format for use within their AdminServer reinsurance administration engine. The integration utilizes real-time XML validation The XML Validation (eXtensible Markup Language) checks a document in XML language if it is well formed and it is adjusted to a defined structure. A well formed document follows the basic rules of XML established for the design of documents. and Microsoft .NET technology to ensure rapid, clean, high-volume data transmissions and receipt at the most granular data levels. The net result to the reinsurer is impeccable data quality that reduces manual scrubbing efforts and fuels more efficient operations and exact reporting. The combined AdminServer/Rivers Wave integrated solution is available for immediate delivery and is currently being implemented by Wilton Re, Inc. Eiren O'Keeffe, Rivers Wave Chief Operations Officer, commented, "This relationship with AdminServer and integration with their administration system is a first for the reinsurance industry. Our joint approach brings together two complementary and proven offerings that provide reinsurers the industry's first 'out of the box' solution to better address their complex business, data and regulatory requirements. Ultimately this means lower costs through greater efficiencies plus enhanced competitive edge for our customers." O'Keeffe continued, "AdminServer has been great to work with....a knowledgeable team with a flexible administration system that achieves all the unique administration requirements of reinsurers." AdminServer's CIO CIO: see American Federation of Labor and Congress of Industrial Organizations. (Chief Information Officer) The executive officer in charge of information processing in an organization. , Chris Prabhu added, "We are pleased to have such a strong relationship with Rivers Wave Consulting. The synergy between the organizations, our common focus on the industry, and our mutual clients make it a win-win for everyone involved. Modern-day technologies and the collaborative approach between vendors have really changed the world of insurance software --- with the beneficiary being the reinsurers, primary carriers and ultimately the policyholders." About Rivers Wave Established through a management buy-out of the Consulting division of RI3K Limited, Rivers Wave Consulting Limited provides expert consultancy and technology solution services. It has developed unique frameworks to enhance insurance and reinsurance business processes. These frameworks have been deployed, serving insurance and reinsurance customers worldwide. Rivers Wave Consulting is a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. based in London, England. For further information about Rivers Wave Consulting and its range of services, please call +44-20-7168-8186, email info@riverswave.com or visit www.riverswave.com. About AdminServer, Inc. AdminServer, Inc. is a premier solutions provider for the insurance community. AdminServer has been delivering administrative system solutions, web services, and consulting since 1998. AdminServer continues to specialize in fixed and variable annuities Variable annuities Investment contracts whose issuer pays a periodic amount linked to the investment performance of an underlying portfolio. , pensions, immediate annuities, life insurance, and reinsurance. Currently AdminServer offers the only annuity, health, life insurance, and reinsurance administration system designed specifically as a web application employing J2EE (Java 2 Platform, Enterprise Edition) A platform from Sun for building distributed enterprise applications. J2EE services are performed in the middle tier between the user's machine and the enterprise's databases and legacy information systems. and .NET strategies and technologies. Additionally, AdminServer has expanded their product offerings to include UVServer, an automated fund management and accounting system. To learn more about AdminServer products and services, call 610-619-3100, e-mail info@adminserver.com, or visit the website at www.AdminServer.com. |
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