American Skandia Selects Tower Technology; Imaging and Integrated Document Management will Streamline Customer Service.BOSTON--(BUSINESS WIRE)--June 10, 1999-- Tower Technology announced today that American Skandia Life Assurance Corporation, the 5th largest issuer of variable annuities Variable annuities Investment contracts whose issuer pays a periodic amount linked to the investment performance of an underlying portfolio. in the U.S., has chosen its award-winning integrated document management solution, Tower IDM (1) See identity management. (2) (Integrated Device Manufacturer) A company that performs every step of the chip-making process, including design, manufacture, test and packaging. Examples of IDMs are Intel, AMD, Motorola, IBM, TI and Lucent. (tm), to automate American Skandia's customer service and new business operations Business operations are those activities involved in the running of a business for the purpose of producing value for the stakeholders. Compare business processes. The outcome of business operations is the harvesting of value from assets . This multi-million dollar imaging and workflow system will upgrade an existing imaging system and will provide American Skandia's 300 U.S. based customer service reps with instant access to customer information. Tower IDM will be integrated with all new 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. application processing and will handle approximately 3.6 million documents per year. Each application form and any other related customer documents and correspondence will be scanned, indexed and integrated into a sophisticated workflow process that will ensure that the appropriate American Skandia representatives will have immediate access to the customer's documents and all policy-related documentation. The implementation will also include conversion of more than 6 million images from American Skandia's existing imaging system. As one of the fastest growing issuers of variable annuities in the U.S. with total sales of over $5B, American Skandia places a premium on "best-in-class" customer service. "We've built our business and our reputation on outstanding customer service," said Ian Kennedy For the British academic, lawyer and bioethicist, see . Ian Patrick Kennedy (born December 19, 1984 in Long Beach, CA) is a right-handed pitcher for the New York Yankees in Major League Baseball. He is 6' 0" tall, and weighs 190 pounds. , Senior V.P. at American Skandia. "Tower IDM will enable us to continue to lead our industry in customer service and will easily support our rapid expansion." "American Skandia has experienced tremendous growth in the last several years," said Nancy F. Brunetti, Executive Vice President at American Skandia. "We believe that Tower Technology can address not only our high-volume requirements, but also deploy a sophisticated system within our aggressive timeframe." Tower Technology has extensive experience in the rapid deployment of high-volume, integrated document management and complex case management systems. "American Skandia's high-volume requirements, especially in document capture and delivery, are a perfect match for Tower IDM's scalability and performance," said Alex Young The name Alex Young can refer to different people:
About Tower IDM Tower IDM provides one familiar user interface and one Common Enterprise Repository(tm) for full-function production imaging, case management (workflow automation See workflow. ), enterprise report management (COLD/ERM) and document management in both client/server and internet browser See Web browser. environments. Its unique high-volume, production-quality color imaging provides superior visual acuity visual acuity n. Sharpness of vision, especially as tested with a Snellen chart. Normal visual acuity based on the Snellen chart is 20/20. Visual acuity The ability to distinguish details and shapes of objects. of images without massive storage requirements and is a favorite feature for many of Tower's customers. Tower IDM's seamless integration An addition of a new application, routine or device that works smoothly with the existing system. It implies that the new feature or program can be installed and used without problems. Contrast with "transparent," which implies that there is no discernible change after installation. with the standard Microsoft environment, provides users with a desktop interface and filing structure that is already part of the corporate infrastructure, thus enabling knowledge workers to quickly and easily utilize the system. Images, documents, messages and other unstructured information move throughout an enterprise as easy as e-mail. Accessibility, speed and ease of use are the keys to making Tower IDM an enterprise repository for unstructured information. About American Skandia American Skandia Life Assurance Corporation and American Skandia Marketing, Inc., the distributor of its variable insurance products (collectively "American Skandia") offer a wide range of long-term savings and income solutions to customers of retail financial professionals and provide the financial intermediary Financial Intermediary An institution that acts as the middleman between investors and firms raising funds. Often referred to as financial institutions. Notes: This can include chartered banks, insurance companies, investment dealers, mutual funds, and pension funds. value-added services, ideas and business tools. American Skandia's innovative products are designed to serve the needs of investors of all ages and types. American Skandia Life Assurance Corporation offers variable annuities, variable life insurance, and products for use with qualified plans, all distinguished by a platform of innovative, hard-working benefits: multi-manager investment Multi-manager investment is an investment product that consists of multiple specialized funds. Each specialized fund may invest across different sectors and markets, or having managers investing in the same asset class but have different investment styles. selection, asset allocation Asset Allocation The process of dividing a portfolio among major asset categories such as bonds, stocks or cash. The purpose of asset allocation is to reduce risk by diversifying the portfolio. services and technology and software support. American Skandia Marketing, Inc. is also the distributor of a retail mutual fund family, American Skandia Advisor Funds. American Skandia Life Assurance Corporation is a member company of Skandia Insurance Company Ltd. ("Skandia"), a global financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. leader and the largest insurance company in Scandinavia. Founded in 1855, Skandia has more than 200 offices in 25 countries worldwide. About Tower Technology Tower Technology is a worldwide leader in delivering award winning, high-volume, production imaging, case management and integrated document management solutions. Tower Technology has a proven track record of providing mission-critical solutions on time and on budget. Many of the world's largest imaging and document management systems, some of which have hundreds of millions of objects on-line, are powered by Tower Technology. Tower Technology supports customers around the world and has offices in the North America, Australia and Europe. For more information on Tower Technology and Tower IDM, contact Tower Technology at 888-733-5500, e-mail: inquiry@towertech.com or visit the web site at www.towertechnology.com. |
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