IVANS Responds to Growth in Automobile Liability State Reporting; Helps Insurers Meet New Mexico's Requirements in Record Timeframe.........Georgia Is Next.

Business Editors

OLD GREENWICH, Conn.--(BUSINESS WIRE)--Oct. 9, 2002

IVANS, Inc. has added New Mexico to the list of state solutions it is providing to insurers for automobile liability insurance reporting.

IVANS helps insurers respond quickly to new state requirements through IVANS Automobile Liability Insurance Reporting Services (ALIR). Within one month of New Mexico's requirements becoming available, IVANS tested with New Mexico and thirty days later is delivering solutions to over 15 carriers. With a February 2003 Georgia deadline, IVANS is also preparing solutions for Georgia's mandate.

Now able to solution more than 20 states with varying formats and requirements, for approximately 100 insurers, customers are confident in relying on IVANS to deliver. "New Mexico's timeline was tight, with requirements becoming available only 60 days before insurers were to begin testing. States are increasingly mandating insurers to transmit liability and termination reports electronically. Yet each state transmits and receives its data differently, so submitting insurance information is a real challenge, especially for insurers or Managing General Agents (MGAs) operating in several states," says Anna England, Vice President, IVANS Insurance E-Commerce Solutions Division.

"We are providing a cost savings to the industry," continues England. "Insurers tell us it would be nearly impossible to work up all of the different state requirements on their own." Typically state timeframes are out of an insurer's control. Outsourcing implementation of automobile liability reporting to IVANS allows carriers to keep already scarce IT resources on other mission critical projects.

IVANS ALIR Services lets an insurer or MGA manage reporting to any number of states with a single tool, whether states have mandated or voluntary reporting, X12 or proprietary state formats, or even if they require disk or tape. Another feature attracting insurers is error reporting and correction. As one carrier says, "the real time saver is when we get the received files back. If there's an error file, the system will translate the state's information and put it into a user-friendly format, so we can research the errors a lot quicker."

IVANS will continue to monitor state initiatives, such as New Mexico and Georgia, and provide timely solutions to insurers for this growing business requirement. Just remember.... the next time a state trooper asks to see your driver's license, don't be surprised if your auto insurance is checked at the same time.

IVANS Insurance E-Commerce Solutions, a division of IVANS, provides solutions for insurers and other property-casualty industry participants to conduct business electronically. Products and services leverage expertise in insurance, ACORD and X12 standards, data translation, state automobile reporting, and both EDI and real-time communications. More information on IVANS E-Commerce Solutions can be found at www.ivans.com.

IVANS, Inc., headquartered in Old Greenwich, Connecticut was formed in 1983 by 21 insurance companies to provide data networking and e-commerce solutions and services to all participants in the insurance industry. It serves over 475 insurance and healthcare organizations, more than 30,000 independent agents, and 12,000 providers.