Allianz Life Insurance Company of North America Selects NaviSys Front Office Solution.EDISON, N.J. -- NaviSys, Inc., the market leader in front-to back-office solutions for life insurers, today announced that Allianz Life Insurance Company of North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. (Allianz Life(R)) has licensed NaviSys Front Office(TM), part of the NaviSys Enterprise Platform(TM), to help streamline new business processing. Using NaviSys Front Office, Allianz Life is creating a single imaging and workflow solution to handle any variation to "straight-through processing straight-through processing The direct exchange of cash and securities. Straight-through processing is a major objective for cross-border transactions that are generally much more costly to settle compared to domestic transactions. " for processing applications, regardless of product line, distribution channel or location. In 2006, Allianz Life will use the solution to process new fixed annuity Fixed Annuity An insurance contract in which the insurance company makes fixed dollar payments to the annuitant for the term of the contract, usually until the annuitant dies. The insurance company guarantees both earnings and principal. business. Allianz will extend the use of NaviSys Front Office to variable annuity Variable Annuity An insurance contract in which, at the end of the accumulation stage, the insurance company guarantees a minimum payment. The remaining income payments can vary depending on the performance of the managed portfolio. products, life insurance products and long-term care long-term care (LTC), n the provision of medical, social, and personal care services on a recurring or continuing basis to persons with chronic physical or mental disorders. insurance products during the first half of 2007. John Esch, vice president at Allianz Life Insurance Company of North America, said: "NaviSys' technology and expertise will play an important role in our efforts to further enhance our new business application processes." Top rated by industry analysts, NaviSys Front Office is a rules-driven solution. John Gorman John Gorman can refer to:
About Allianz Life Insurance Company of North America Founded in 1896 and based in Minneapolis, Allianz Life Insurance Company of North America is a leading provider of fixed and variable annuities Variable annuities Investment contracts whose issuer pays a periodic amount linked to the investment performance of an underlying portfolio. , life insurance policies, long term care insurance products, and health excess of loss insurance products in the U.S. Allianz Life Insurance Company of North America is one of the primary companies of Allianz AG. Allianz AG employs over 177,000 people worldwide. About NaviSys Front Office NaviSys Front Office is part of NaviSys Enterprise Platform(TM), which enables rapid product introduction and straight-through processing of insurance. Leading companies use the solution to enable once-and-done data entry and transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. , from point of sale through ongoing administration. While some insurers choose to implement the entire NaviSys Enterprise Platform, others use one package or several components. The components of NaviSys Enterprise Platform are: illustration and quotation; application and forms; case management; underwriting; policy issue; customer service; policy administration; and payout illustration. NaviSys' solution packages address specific industry needs: --NaviSys Front Office(TM) improves the new business process. --NaviSys Home Office(TM) speeds new product introduction and streamlines policy administration. --NaviSys Payouts(TM) targets the specific needs of the growing retirement income market. About NaviSys Leading life insurers rely on NaviSys for innovative technology that delivers business results. From front-line sales to back-office administration, NaviSys delivers advanced technology solutions that improve distribution, new product introduction and operational efficiency while empowering IT organizations to improve productivity and simplify technology platforms. NaviSys provides the talent, vision and commitment to help insurers' businesses succeed. NaviSys' platform-neutral software solutions and consultative approach enable life insurance carriers and distributors to create, distribute and administer insurance products through multiple channels. Seventy-five percent of the largest domestic life and health insurers and over ninety percent of the top annuity providers are NaviSys clients. Companies such as AIG/American General, Guardian Life, TIAA-CREF TIAA-CREF Teachers Insurance and Annuity Association - College Retirement Equities Fund and Western Southern rely on NaviSys' pre-built and customized solutions. NaviSys has offices in Edison, New Jersey Edison Township (usually known as Edison) is a township in Middlesex County, New Jersey, United States. As of the United States 2000 Census, the township had a total population of 97,687, making it at the time the fifth largest municipality in New Jersey. As of the U.S. and Ambler, Pennsylvania. www.navisys.com All copyrights and trademarks are registered and protected by their respective manufacturers. |
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