Union Mutual of Vermont Selects ISCS's SurePower Innovation® to Modernize Policy Administration & Core Business Processes
San Jose, CA and Montpelier, VT - May 3, 2011 - ISCS is pleased to announce that Union Mutual of Vermont Companies (UMVT) has selected the SurePower Innovation® Policy Administration Suite, the property/casualty insurance industry's most modern, field-proven, insurance processing solution, to modernize the company's policy administration, claims and billing processes, as well as to provide pre-integrated document management, data marts, agent and consumer self-service portals and other business capabilities.
Located in Montpelier, Vermont, UMVT is a regional insurance carrier writing property/casualty coverages throughout New England and upstate New York. As part of an effort to strategically transform the company's IT structure and enable more rapid processing of insurance business for policyholders and its independent agent network, the company set out to find a new policy administration suite with industry-leading features and comprehensive functionality offered by a company with the insurance expertise and approach required to be a true insurance technology partner.
During the selection process, UMVT utilized an independent consultant for the vendor discovery, narrowing an initial list of more than 15 potential solutions to four primary candidates. Formal presentations and demonstrations with the four vendors on the short list were conducted and scored to identify the top candidate.
John H. Fitzhugh, president and CEO of UMVT, said he was impressed by ISCS's commitment to the agency distribution system, by the financial and insurance knowledge of the vendor's president and CTO, and by ISCS's demonstrated intent to maintain cutting-edge technology.
"From the very beginning we were seeking a ‘product suite,' rather than standalone components, to best fit our strategic business needs," said Gary H. Ouellette, vice president of operations, technology and enterprise risk, for UMVT. "ISCS was selected for its suite's breadth of functionality, ease of use, and innovative nature. Just as important, however, was a culture fit, including mutual recognition that long-term relationships are essential for success with insurance processing systems."
UMVT and ISCS will work together to implement the SurePower Innovation Policy Administration Suite initially for the company's business owners' policies, followed quickly by homeowners, personal auto, and personal umbrella policies in six New England states with additional lines and states to follow.
"Union Mutual of Vermont is an important part of the New England insurance community, with a strong history of independent agent and local support," said Andy Scurto, president and CTO of ISCS. "We are proud to be a partner in their use of new insurance technology to provide their time-tested, personal service to policy holders and agents and to grow an even stronger presence in these evolving competitive markets."
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P&C carriers and MGAs rely on the modular, Web and SOA-based SurePower Innovation Policy Administration Suite to perform critical business processes for commercial, personal and specialty lines of business. These include underwriting automation, policy and claims management, integrated reinsurance, integrated billing and much more. The system provides integrated document management, a rules-based data warehouse, and document imaging client tool for bulk indexing and LDAP-standards security. With modern highly scalable, extensible, and configurable technology, SurePower Innovation enables insurers of all sizes to meet today's market requirement for business agility. SurePower Innovation Policy Administration Suite is a company-wide, strategic choice for carriers to both retain customers and increase their book of business. For more information contact Phil Kiekhaefer, Ph.D., Director of Marketing & Usability for ISCS, at 1-888-901-ISCS, email@example.com, or visit www.iscs.com
About Union Mutual of Vermont Companies (UMVT)
Union Mutual of Vermont is comprised of three companies, Union Mutual Fire Insurance Co, New England Guaranty Insurance Co, and Eastern Mutual Insurance Co, which write property and casualty insurance via independent agents throughout New England and New York (except New York City). Union Mutual began business in 1874. For more information about UMVT, please visit the company website at www.umfic.com.