Sompo Japan Insurance Company of America Signs New 10-Year Contract with Insurity

  Sompo Japan Insurance Company of America Signs New 10-Year Contract with
  Insurity

    Insurer to upgrade and expand use of Insurity’s solutions with Policy
 Decisions, Claims Decisions, Portal Decisions, and Insurance Enterprise View

Business Wire

HARTFORD, Conn. -- October 23, 2012

Insurity, Inc., a provider of core insurance processing software and services,
today announced that Sompo Japan Insurance Company of America (SJA) has signed
a new 10-year agreement with Insurity. SJA will expand use of Insurity’s
Policy Decisions, and extend functionality with the addition of Claims
Decisions, Portal Decisions, and Insurance Enterprise View to align its
technology platform with its strategic business direction. The new agreement
includes the delivery of the solutions via an Insurity hosted environment to
support SJA’s commercial lines of business.

Driven by business growth requirements, long time Insurity client SJA
recognized its current business operations needed to be upgraded to new
efficiencies. While SJA had been using Insurity’s Policy Decisions, it relied
on WINS, a composite, multi-function administration application installed 15
years ago, to handle data for functions like financial reporting, statistical
analysis, claims management and certain underwriting and policy processing.

While the WINS system had successfully supported the company’s operation for
years, the competitive insurance market has intensified. With the changing
market and SJA’s plans for growth and expansion, SJA sought more functionality
and flexibility. After careful review of the market and an evaluation of
several available solutions, SJA once again selected Insurity due to the
combination of Insurity’s breadth of product offerings and the company’s
renewed focus on customer service and product development, as well as its
proven commitment to support SJA in meeting its business objectives.

In addition to aligning the SJA technology platform with the company’s
strategic direction and growth goals, the Insurity policy, claims and portal
offerings combined with its Insurance Enterprise View will enable SJA to:

  *Streamline the operation and create significant efficiencies through the
    deployment of new capabilities such as agent/broker portal, underwriting
    rules and activity management;
  *Automate claims processing to add increased visibility into TPA claims,
    accounting for over 90% of SJA claims;
  *Ensure adherence to claims workflows and reporting structures;
  *Add and modify new products quickly through a ‘configurable’ approach to
    take full advantage of windows of market opportunity;
  *Provide consistent and automated processes across all lines of business;
  *Improve business process flows with real-time integration between Insurity
    application components;
  *Consolidate data for enhanced business analytics and decision making;
  *Offer a common portal for agent and broker channels, making SJA easier to
    do business with; and,
  *Avoid costs, business risks, and lost opportunity associated with a legacy
    environment.

Commenting on the selection of Insurity, Ellen Caldwell, an executive with
SJA, noted, “While we had a strong growth and market expansion plan, our
technology environment needed to be upgraded to realize our vision. Between
the growth we’re targeting in lines of business we currently handle in a
manual manner and our need to improve the overall efficiency in our backroom,
we knew we needed to transform our technology and processes for future growth
and expansion. Insurity has committed to help every step of the way and when
we considered the strength of the SJA/Insurity relationship and Insurity’s
solutions, product direction, and property and casualty expertise, we
concluded Insurity was the right partner for us. We value longevity and
partnership, and we believe Insurity is a tremendous long term fit for SJA.”

Jeffrey Glazer, Insurity CEO, said, “We are delighted to announce SJA’s
selection of Insurity. We believe our long history in insurance and our proven
ability to deliver are just as important to our clients as our technology and
functionality. We have the experience and the battle scars to prove it, but it
all translates to valuable knowledge when working with our clients through the
implementation and the long term support of their Insurity environment. We
look forward to continuing our work with SJA and supporting the SJA
organization in achieving and exceeding its business goals.”

About SJA

Headquartered in New York and with operations in Charlotte, Los Angeles, San
Francisco, Chicago and Nashville, Sompo Japan Insurance Company of America
(SJA) provides a broad range of property and casualty insurance services in 50
states and DC. SJA combines its A.M. Best rating of A+ and the worldwide reach
of its affiliates to give its customers the financial advantages and resources
they need to compete effectively in challenging markets within the U.S. and
around the globe. As the U.S. operation of NKSJ Holdings, Inc., among the
largest international property and casualty insurers in the world, SJA is
recognized for its financial strength and stability and its focus on superb
customer service.

About Insurity

Headquartered in Hartford, CT, Insurity, Inc. provides policy administration,
claims, billing, and analytics software to more than 100 insurance companies.
A market leader in deploying policy administration software and full service
solutions to the property & casualty insurance market, Insurity’s solutions
process billions of dollars of premium each month and address the needs of all
carriers – large and small, national or regional, commercial, personal, or
specialty lines writers, as well as MGAs. For more information about Insurity,
call 860-616-7721 or visit www.insurity.com.

Contact:

Media Contact
Beth Bartlick
Director, Marketing
Insurity
860-616-2604
beth.bartlick@insurity.com
or
Ellen Caldwell
Chief Operating Officer
Sompo
704-759-2101
Ellen_Caldwell@sjaagency.com
 
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