INSpire Signs Two New Customer Software Contracts
"Our new software contracts with Midwest and Island are exciting wins forus," said John Pergande, chairman and CEO, INSpire. "Both of these companieshave worked with INSpire in the past. Both have road tested our systems foryears. Both recently conducted comprehensive evaluations of competitorsystems. And both concluded that INSpire has the best integrated and mostcomplete policy and claims processing software available in the market today.These companies realized that INSpire has what it takes to transform theirbusinesses. We are committed to speedy implementation of our customers' newsoftware solutions so that our customers can leverage their marketplaceadvantages quickly."
Midwest Family, a multiple line property and casualty insurer for personaland commercial business, and one of INSpire's first software clients, signed alicense agreement to utilize INSpire's release 8.0 INSideOUT(SM) policy/claimsprocessing software. Additional INSideOUT(SM) software components included inthe license are web-enablement, workflow/imaging, rating, underwriting, thirdparty/ordering receiving, and print output. Midwest Family is one ofINSpire's first software clients, signing on in December 1993.
"Since going live on INSpire's original software system in 1995, we havetripled our written premium. INSpire's system has been an integral part ofour success," said Ron Boyd, President and Chief Executive Officer of MidwestFamily. "Our productivity has increased significantly; our revenue peremployee is now $600,000, which is twice what it was when we first implementedthe software. INSideOUT software gets high marks from us because of its easeof adding new states. In 1995, we were doing business in two states, nowwe're in six states with plans for more states in the near future. WithINSpire, it's been painless to enter new states," added Boyd.
Island, the State of Hawaii's only locally owned and managed property andcasualty insurance company, has expanded its relationship with INSpire bysigning a license agreement with INSpire to utilize its INSideOUT(SM)policy/claims processing software v7.0. INSideOUT(SM) software componentsincluded in the license are underwriting, rating and agency interface(TransFluent®).
Island is a former business process outsourcing (BPO) client of INSpire's.The company conducted in-depth research on competitive software suites andconcluded that INSpire's offering is the most complete, integrated softwaresolution for policy and claims administration processing available today.
"We looked around the market and concluded INSpire's INSideOUT(SM)software is 'best of breed'," said Riki Fujitani, Island's VP, InformationTechnology. "Island is back with INSpire and we're excited by ourre-established partnership and by being INSpire's first xSP customer. We'refocused on making our partnership successful," added Fujitani.
"INSpire got a black eye when Island canceled its business processoutsourcing contract with us last September," said INSpire's Pergande. "Inthe past year, our new management team has focused on strengthening oursoftware platform and delivering excellent customer service. This agreementis proof that INSpire is now on the right path. Our most critical, skepticalcustomer first canceled its contract, then surveyed the field and concludedthat the new INSpire is the best solution in the marketplace."
Island intends to offer a full range of xSP services including ASP, ISP,and MSP to the Hawaii insurance market. "The software agreement lets Islandstrategically utilize our Internet Data Center, which is the third largest inthe State of Hawaii, by using the INSideOUT system for processing Hawaiiinsurance companies policy and claims processing at a lower cost than theycould do it themselves," added Fujitani. Under the agreement, Island can usethe licensed software to process insurance policies for its insurance risks inthe State of Hawaii. Island also has the option to add additional licenses,at additional fees, for other Hawaii insurance companies in the future.
INSpire Insurance Solutions, Inc. provides policy and claimsadministration solutions for all property and casualty insurance products. Asone of the foremost providers of outsourcing and integrated systems, INSpireserves clients with needs to enter new markets quickly, reduce expenses,increase customer satisfaction and focus on core competencies. Additionalinformation can be obtained from INSpire's Web site at http://www.nspr.com or bycalling 817-348-3999.
INSpire's policy and claims software platform is a complete set of toolsto automate the entire back office of P&C insurance carriers. It is the mostcomprehensive and integrated software solution in the industry today. Andwhether a carrier invests in the entire suite or chooses individual products,the carrier can be sure it is using leading-edge technology -- technologythat's guaranteed.
-- INSideOUT(SM) policy/claims processing -- The heart of the software suite, it offers fully integrated functions such as policy and claims administration, billing, reinsurance, agency processing and management/statistical reporting.
-- INSideOUT(SM) rating -- An object-oriented rating tool that lets non- technical users create, build and test the rating algorithms used in the insurance industry.
-- INSideOUT(SM) underwriting -- A rule-based software that automates the underwriting analysis process by applying defined rules and associated rule parameters to existing policy data. The component contains more than 300 base rules (1,200 rule subcode combinations).
-- INSideOUT(SM) web-enablement -- A real-time Internet-based rating, underwriting and policy issuance system that allows insurance carriers to sell and service insurance policies either direct to the consumer or through agents.
-- INSideOUT(SM) workflow/imaging -- Functions as an intelligent front-end workflow system that incorporates administrative tools and automated workflow to reduce manual handling and to promote a paperless environment.
-- INSideOUT(SM) agency interface (TransFluent®)-- A unique and powerful software tool that allows carriers to exchange information between existing legacy systems, migrate data to new applications and bridge legacy systems to client/server applications.
-- INSideOUT(SM) print output -- Provides the ability to design, maintain and print your declarations, bills and forms.
-- INSideOUT(SM) third-party ordering/receiving -- Automates the process of originating and submitting report requests to outside vendors such as credit reporting bureaus, industry service organizations and driver's license bureaus.
INSpire Insurance Solutions®, 300 Burnett Street, Fort Worth, TX 76102-2799. Tel: 800-433-2452 ; Fax: 817-348-3760.