Conseco Insurance Group Licenses NaviSys Front Office(TM) for Application, Underwriting, Case Management and New Business Workflow; Implementation Expected to Improve Case Management and Service to Independent Producers.EDISON, N.J. -- NaviSys, Inc., the market leader in front-to back-office solutions for life insurers, announced today that Conseco Insurance Group has licensed NaviSys Front Office(TM) for application entry, underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. , case management and new business workflow. The initial implementation will enable Conseco to capture, manage and issue new business for Specified Disease products and support task management for Medicare Supplemental products. Conseco also has the option to use the solution for life insurance and annuities. Russ Bostick, 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. at Conseco said: "We believe state-of-the-art technology will help us continue our rapid growth and provide top-tier service to producers and clients. Using NaviSys' rules-driven new business processing solution, our issue staff can manage cases more efficiently and render faster decisions." This project will streamline key processes, including: --assigning and managing cases, --evaluating applications, --ordering and interpreting requirements, and --automating decisioning (where possible). John Gorman John Gorman can refer to:
service - work done by one person or group that benefits another; "budget separately for goods and services" at NaviSys, said: "We are very proud to have been selected to help Conseco grow its business while containing costs. We are applying our innovative technology, deep understanding of insurance processes and a true partnership approach to ensure Conseco benefits fully from this forward-looking initiative." About NaviSys Front Office NaviSys Front Office is part of NaviSys Enterprise Platform(TM), which enables rapid product introduction and 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. 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 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 services; policy administration; and payout pay·out n. 1. The act or an instance of paying out. 2. A percentage of corporate earnings that is paid as dividends to shareholders. 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 Conseco Insurance The Conseco insurance companies serve millions of customers across America. Conseco's cancer, heart/stroke, accident and Medicare supplement policies protect people against major unplanned expenses; Conseco's annuities and life insurance products help people plan for their financial futures financial futures Obligations to buy or sell particular positions in financial instruments. The features of financial futures are identical to those of any futures contract except that the asset for delivery is of a financial nature. . 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 Ambler is a borough in Montgomery County, Pennsylvania, in the United States, approximately 16 miles (26 km) northwest of Philadelphia. History Village of Wissahickon . www.navisys.com All copyrights and trademarks are registered and protected by their respective manufacturers. |
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