QBE the Americas Selects AscendantOne for Commercial Lines Rate-Quote, Underwriting and Policy Management.Business Editors/High-Tech Writers NASHUA, N.H.--(BUSINESS WIRE)--Oct. 21, 2003 QBE (Query By Example) A method for describing a database query originally developed by IBM for mainframes. A replica of an empty record is displayed and the search conditions are typed in under their respective columns (fields). the Americas (QBE) has selected AscendantOne(R), a unit of ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. , to provide multistate mul·ti·state adj. Of, relating to, or involving several states: a multistate environmental campaign. , multiline commercial lines rate-quote, 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. , policy administration and account management capabilities for its direct insurance operations. QBE will deploy AscendantOne's browser-based sales and service solutions to its Managing General Agents (MGAs) and their sub-producers. AscendantOne's solutions, which combine tool-based rate management with turnkey ISO content, will help QBE to enhance the servicing of its current business, while allowing QBE to modify or customize ISO-based programs. QBE will use ISO advisory prospective loss costs, manual rules and forms for eight commercial lines, delivered on AscendantOne's browser-based platform. The flexibility of AscendantOne's rate management tools will allow QBE to maintain and customize all rating, underwriting and quoting interfaces more cost effectively. QBE plans to further centralize cen·tral·ize v. cen·tral·ized, cen·tral·iz·ing, cen·tral·iz·es v.tr. 1. To draw into or toward a center; consolidate. 2. the administration of its rating and policy systems, while extending AscendantOne's real-time quoting, account management and contract administration capabilities (including automated renewal processing and out-of-sequence endorsements) to its sales and service channels. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. QBE, AscendantOne's financial strength, access to ISO-validated content, program customization capabilities and total cost of ownership advantages contributed to their decision. "QBE the Americas wanted to acquire a solution that easily integrated business content with proven technology. AscendantOne's solutions provide a superior base inventory and interpretation of ISO content, while allowing for needed company deviations and custom rating schemes," stated Tim Kenny, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of QBE. "Ease of product maintenance and integration with third-party solutions allows for rapid deployment," added John LaCava, senior vice president and 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. of QBE. "AscendantOne will accelerate QBE's product development strategies, while freeing QBE from the constraints and costs of traditional rate maintenance. Our efforts can be focused on extending ISO-based content, rules-based underwriting and web-ready policy service to our MGAs and their sub-producers. AscendantOne's workflow components will likewise extend product management and analysis to QBE's internal staff for greater operational efficiencies." "AscendantOne is committed to helping QBE achieve its vision of improved distribution reach and customer responsiveness through our scalable rate-quote and policy management infrastructure as well as our patent-pending rate management methodology," said Chuck Boodro, president of AscendantOne. For more information: www.qbe.com, www.AscendantOne.com, www.iso.com. All trademarks appearing in this news release are the property of their respective owners. |
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