Pitney Bowes Business Insight, a division of Pitney Bowes Software Inc. that offers solutions helpful in managing customer relationships, has launched a new cloud application named Underwriter’s Location Profiler on Force.com. The solution has been developed for helping the property and casualty and general insurance carriers in automating the location-based portion of underwriting workflow with a number of location-based assessments based on proximity to a wide variety of risks.
Force.com is an enterprise platform that can be deployed to build business applications in the cloud. The platform offers support to the Salesforce CRM applications and over 800 partner applications used by around 82,400 customers of salesforce.com, which include well known names such as Japan Pos, Kaiser Permanente, KONE and Sprint (News - Alert) Nextel.
The Pitney Bowes solution can be seamlessly integrated into previous underwriting workflows for both new business underwriting and policy renewal processes; and is helpful in handling exception processing, single address lookups and batch processing of files. It comprises of location-based book-of-business analytics and competitive rating territory information and pricing; and offers real-time risk assessment of locations without additional burden or cost to IT.
Underwriter’s Location Profiler enhances quality and productivity of new property quote submissions of the enterprises; and enables the insurers to conveniently plug and play location-based intelligence and analytics into a number of current business applications, including policy administration, underwriting workstations and agent portals. It is available for trial at https://insurance.pbinsight.com.
“Sustained superior underwriting performance requires precision, insight and responsiveness. Insurers are putting a high priority on improving their capture of data and risk information. They are enhancing underwriting by ensuring that risk assessments are more judgment than luck,” commented John O’Hara, president at Pitney Bowes Business Insight (News - Alert). “Our customers share our vision of developing the next generation of tools to improve the underwriting process based on location and data.”
“Pitney Bowes is leveraging the best attributes of Force.com,” said Kendall Collins, chief marketing officer of Salesforce.com (News - Alert). “Underwriter Location Profiler empowers insurers with the real-time risk analysis best delivered from the cloud.”
In June 2010, Pitney Bowes Business Insight entered a partnership with Duck Creek Technologies, a provider of software and services to the insurance industry, for offering a comprehensive policy administration solution. The solution integrates Pitney Bowes Business Insight's Spectrum (News - Alert) Data Quality Platform and Location Intelligence solutions with the Duck Creek Policy Administration product; and provides carriers with customer information validation, data enrichment and geo-spatial analysis in a single API called directly from the Duck Creek user interface.
Raja Singh Chaudhary is a contributing editor for TMCnet. To read more of Raja's articles, please visit his columnist page.
Edited by Juliana Kenny