Every year, the CIO 100 Awards honor 100 companies that demonstrate excellence and achievement in innovation and business value. This year, Narragansett Bay Insurance (NBIC) was among the select few for a project lead by NBIC’s CIO, Mike Anselmo. Exigen Insurance is pleased to congratulate Mike and NBIC for their success and recognition for what CIO magazine describes as “using IT in innovative ways to deliver competitive advantage to the enterprise and enable growth.”
Roll-out of Auto Products in California Introduces AAA NCNU Insurance Exchange’s Multi-state Business Transformation and Technology Modernization
Exigen Insurance Solutions announces that AAA Northern California, Nevada, and Utah (NCNU) Insurance Exchange has rolled out Exigen Insurance Solutions’ policy administration and billing solutions for its California book of automobile insurance. The deployment is the first stage in providing AAA-branded personal lines insurance to more than 17 million AAA members in the 26 states served by AAA NCNU Insurance Exchange. Nearly one million auto policyholders and 1.7 million cars in California are insured by AAA NCNU.
Our warmest congratulations to customer Mike Anselmo, CIO of Narragansett Bay Insurance Company (NBIC), on his 2011 Elite 8 award. Exigen Insurance has the distinct pleasure this year of offering congratulations to two of our customer CIOs on their 2011 Elite 8 awards. Mike Anselmo is joined by Karl Uphoff, CIO of global consumer lines at Chartis.
The Exigen team offers hearty congratulations to long-time customer Karl Uphoff, CIO of global consumer lines at Chartis, on his well-deserved recognition as a 2011 Elite 8 Award honoree as named by Insurance & Technology.
When Hurricane Irene hit Rhode Island with powerful winds and rain on Sunday, August 28, one concern that Narragansett Bay Insurance Company CIO Michael Anselmo did not have was that his company’s policy administration and billing systems would be shut down – paralyzing its ability to respond to customers. NBIC specializes in homeowners insurance in coastal areas of the Northeast, so one thing was certain – they would quickly be thrown into a period of high claims activity. But you can’t worry about systems you don’t have. NBIC has no core systems technology infrastructure on its premises. All core systems run in multiple private clouds on remote web-based servers. This proved to be a prudent strategy that provided built-in disaster recovery and plenty of capacity for the subsequent increase in Irene-driven system volume.
Insurers continue to experience significant pain points around their billing operations. Many are experiencing greatest difficulty meeting growing customer service expectations, and with high customer acquisition costs, this is a real problem. “They need solutions that create customer loyalty,” says Rowshi Pejooh, vice president of product managements, in Exigen Insurance’s announcement of BillingCore 3.6.
Insurance CIOs almost unanimously recognize that cloud computing can provide real benefits for their companies, including better economies of scale, elastic scalability, more flexible sourcing options and more efficient use of financial and human resources. A full 90% of those surveyed in Celent’s 2011 CIO Survey said cloud computing was already in limited use or they were investigating or piloting it in 2011. At the same time, some remain full of trepidation, concerned about the potential risks of depending on external sources to provide computing infrastructure and technology platforms, as well as application software and services. This limbo is no place to be. Mercifully, if CIOs follow some logical steps, many the same they have trod before, they can find the best strategy for their companies.
Congratulations to Narragansett Bay Insurance Company (NBIC) on their 2011 Vanguards in Insurance Practices Award. NBIC won third place in the prestigious Best Practices category. We are very pleased that our nomination of NBIC for its deployment of Exigen PolicyCore and BillingCore as software-as-a-service (SaaS) was recognized by the awards panel, which consisted of Insurance Networking News editors, its editorial advisory board of industry experts, and Celent’s top insurance research analysts.
Exigen Insurance Solutions’ recently announced partnership with The Evogi Group is good news for insurers trying to enter the fastest-growing segment of the auto insurance market. The collaboration provides insurers full policy administration, billing, claims and account management for personal and commercial auto UBI products using telematics and GPS technology.
New Dynamic Analytics Component Reduces Cost and Increases Decision Support for Insurers