DTRIC Insurance Company, a Hawaii Property & Casualty Insurance Company has selected DecisionMaker(TM) Extended Lines Policy Administration System to process its newly expanded commercial insurance lines of business. DTRIC currently offers personal auto and home insurance as well as workers compensation benefits and limited commercial lines in Hawaii.
DTRIC will broaden their commercial lines offerings throughout the state of Hawaii this year. "With our mid-term change in plans it is exciting that DRC's Extended Lines product will allow us to place our new commercial lines business into production with significant efficiency gains, at about the same time as we write our first contract," said Bill Marr, COO of DTRIC. "Speed to market is critical when new products are tested in this marketplace and DRC will deliver that speed. We are delighted to work with such an experienced local partner for these very important product offerings," added George Lucas, VP of Technology for DTRIC.
The functionality of DecisionMaker Extended Lines is so flexible that insurance companies can have a new system in production in just a few months. "By leveraging our rating technology and existing systems we are able to help our customers launch new lines of business quickly, affordably and with minimal risk," said Karen Yamamoto, DRC's VP of Development. "Once we have the requisite data sets and rates our clients' products can be in production in less than a month," added Yamamoto.
DecisionMaker Extended Lines Policy Administration System extends DRC's DecisionMaker Policy Administration System that already supports integrated and/or stand alone modules such as quoting, rating, complete policy issuance, claims, billing to Stat reporting. Because it is already integrated with DRC's DecisionMaker Suite, companies can affordably launch a new business in weeks as opposed to months. "It doesn't matter what channel DRC's clients are servicing or what new line(s) of business they want to offer. Extended Lines will integrate with a mature, robust and scalable policy administration system while simultaneously allowing the client to face the realities of their business without worrying about expensive programming initiatives that will delay the speed to market. This will create competitive advantages for DRC's Extended Lines customers," said Stephen Korow, DRC's VP of Technology.
About DRC
DRC is a software development and information technology company. Since 1971, DRC has enjoyed a solid reputation as a proven and trusted provider of software solutions to the Property & Casualty insurance industry. DRC specializes in providing end-to-end functionality to our insurance company and MGA clients. DRC's flagship product is DecisionMaker(TM), a web-based suite of applications which provides clients with a complete quote-to-claims system.
About DTRIC
DTRIC was established in 1992 at a time when most insurers were reluctant to offer automobile coverage in Hawaii due to rising claims costs and strict regulations created by the state's no-fault law. With creative programs and solutions, DTRIC stepped in to replace a major insurer who canceled the group automobile program for the state's largest public employee union.
In 1994, DTRIC expanded into commercial insurance lines in response to a severe downturn in the availability of general casualty and workers compensation insurance in Hawaii. DTRIC provides workers compensation coverage to many Hawaii businesses and works closely with clients on operational and safety issues. DTRIC has been instrumental in bringing stability to the local marketplace and reducing insurance costs.
For more information about DTRIC Insurance visit www.dtric.com.
Thursday, July 26, 2007
Monday, July 23, 2007
eBenefits Direct (EBFD) Now Backed by Over $20 Billion in Assets as It Partners With Assurant Health for Sale of Major Medical Insurance Products
eBenefits Direct, Inc. an innovative health and life insurance company, announced today that it has partnered with Assurant Health to sell its major medical health insurance products. The partnership provides EBFD with the creditability and support of an organization with over $20B in assets and $7B in annual revenues.
"We have captured yet another major health insurance provider that will help catapult this organization forward in becoming the beacon for obtaining health & life insurance via the internet. It is our opinion that attaining partnerships with the world's most accredited health providers will create a network that will be unmatched in this industry, thus providing EBFD a platform that will supersede that of any competition," stated Randy Schleger, President of
EBFD will now be permitted to sell the major medical health insurance products presently offered by the AIZ company. Through its executed re-sell agreement, EBFD will receive compensation from all sales and transactions completed through this process, which will instantly increase the revenues of the EBFD Company. Medical benefits by Assurant Health, offered by EBFD, can be found on the web at www.ebenefitsdirect.com.
About Assurant
Assurant is a premier provider of specialized insurance products and related services in North America and selected international markets. Its four key businesses -- Assurant Employee Benefits, Assurant Health, Assurant Solutions and Assurant Specialty Property -- have partnered with clients who are leaders in their industries and have built leadership positions in a number of specialty insurance market segments worldwide.
Assurant, a Fortune 500 company, is traded on the New York Stock Exchange under the symbol AIZ. Assurant has more than $20 billion in assets and $7 billion in annual revenue. The Assurant Web site is www.assurant.com.
About Assurant Health
Assurant Health is a part of Assurant and has been in business since 1892. It is the brand name for products underwritten and issued by Time Insurance Company, John Alden Life Insurance Company and Union Security Insurance Company. Together, these three underwriting companies provide health insurance coverage for more than one million people nationwide. Each underwriting company is financially responsible for its own insurance products. Primary products include individual medical, small group, short-term and student health insurance products, consumer-choice products such as Health Savings Accounts and Health Reimbursement Arrangements, as well as non-insurance products. With almost 3,000 employees, Assurant Health is headquartered in Milwaukee, Wis., and has operations offices in Minnesota, Idaho and Florida, as well as sales offices across the country. The Assurant Health Web site is www.assuranthealth.com.
ABOUT E-BENEFITS DIRECT:
eBenefits Direct, Inc. is a nationwide leader in the direct marketing and distribution of a wide range of health and life insurance products to individuals, families and groups. eBenefits Direct, Inc. has revolutionized the way health and life insurance has historically been sold. eBenefits Direct, Inc.'s approach is through many mass distribution areas such as call centers, the internet and massive lead generation programs. eBenefits Direct, Inc. is a fast growing direct response marketing organization and Technology Company. By utilization of its many call centers across the country it enables an individual to efficiently purchase health and life insurance as well as medical and discount service programs directly from their computer.
Learn more about eBenefits Direct by visiting: www.ebfdcorp.com
"We have captured yet another major health insurance provider that will help catapult this organization forward in becoming the beacon for obtaining health & life insurance via the internet. It is our opinion that attaining partnerships with the world's most accredited health providers will create a network that will be unmatched in this industry, thus providing EBFD a platform that will supersede that of any competition," stated Randy Schleger, President of
EBFD will now be permitted to sell the major medical health insurance products presently offered by the AIZ company. Through its executed re-sell agreement, EBFD will receive compensation from all sales and transactions completed through this process, which will instantly increase the revenues of the EBFD Company. Medical benefits by Assurant Health, offered by EBFD, can be found on the web at www.ebenefitsdirect.com.
About Assurant
Assurant is a premier provider of specialized insurance products and related services in North America and selected international markets. Its four key businesses -- Assurant Employee Benefits, Assurant Health, Assurant Solutions and Assurant Specialty Property -- have partnered with clients who are leaders in their industries and have built leadership positions in a number of specialty insurance market segments worldwide.
Assurant, a Fortune 500 company, is traded on the New York Stock Exchange under the symbol AIZ. Assurant has more than $20 billion in assets and $7 billion in annual revenue. The Assurant Web site is www.assurant.com.
About Assurant Health
Assurant Health is a part of Assurant and has been in business since 1892. It is the brand name for products underwritten and issued by Time Insurance Company, John Alden Life Insurance Company and Union Security Insurance Company. Together, these three underwriting companies provide health insurance coverage for more than one million people nationwide. Each underwriting company is financially responsible for its own insurance products. Primary products include individual medical, small group, short-term and student health insurance products, consumer-choice products such as Health Savings Accounts and Health Reimbursement Arrangements, as well as non-insurance products. With almost 3,000 employees, Assurant Health is headquartered in Milwaukee, Wis., and has operations offices in Minnesota, Idaho and Florida, as well as sales offices across the country. The Assurant Health Web site is www.assuranthealth.com.
ABOUT E-BENEFITS DIRECT:
eBenefits Direct, Inc. is a nationwide leader in the direct marketing and distribution of a wide range of health and life insurance products to individuals, families and groups. eBenefits Direct, Inc. has revolutionized the way health and life insurance has historically been sold. eBenefits Direct, Inc.'s approach is through many mass distribution areas such as call centers, the internet and massive lead generation programs. eBenefits Direct, Inc. is a fast growing direct response marketing organization and Technology Company. By utilization of its many call centers across the country it enables an individual to efficiently purchase health and life insurance as well as medical and discount service programs directly from their computer.
Learn more about eBenefits Direct by visiting: www.ebfdcorp.com
Monday, July 16, 2007
INSURANCE NEWS
Auto insurance is mandatory in most states. The law mandates to have auto insurance on any vehicle you drive. And nowadays getting auto insurance is not a big deal at all. There are numerous insurance companies available today offering auto insurance policy and each insurance provider offers their own custom made schemes with a cover to match today’s industry needs. Hence the real game is to find out the best suitable one which suits you the best.One of the basic things to take into consideration before getting any auto insurance policy is the type of coverage you need. Which ever policy you choose you have to pay a certain amount of money depending on the type of coverage you choose for your vehicle. Let us look in details what are the main types of auto insurance policies available in the market.One of the most common types of auto insurance is the liability insurance. Liability insurance is considered as the least coverage an individual can take. Liability insurance is regarded as an important one it will cover up to its stated amount if any accident has occurred causing harm to some other's body or property, and the person operating the insured vehicle was found to be liable for the accident. The auto insurance company will pay the stated amount to the injured according to your insurance policy. But remember if you are injured or hurt in the accident, you will not get any coverage and will have to spend all the money for medical expenses as well as any damage happened to your vehicle yourself. In most cases after any claim, auto insurance companies usually increase your monthly payments if you are found liable for the accident.The second popular type of auto insurance is the Full Insurance. If you are selecting the full insurance scheme your monthly payments will be based on your vehicle make and model. If you are using a highly expensive car then you monthly payments will be high for a standard car the premium amount will be less. Full insurance will cover both the parties involved in an accident. Full insurance would covers up to either the actual cost of repairs or the stated amount, less the stated deductible, when the insured vehicle is damaged in any accident.
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