May 22, 2006
Las Vegas, NV
New prescriptive guidance helps insurance customers select and deploy pre-integrated applications connected via industry and Web services standards.
LAS VEGAS (ACORD/LOMA Insurance System Forum) — May 22, 2006 — Insurance Technologies, an insurance software company providing point-of-sale management software for the financial services and brokerage industries, today announced its support of the Microsoft® Insurance Value Chain Architecture Framework (IVCAF) v1.0.
The Microsoft® IVCAF v1.0 is an industry-standards-based approach delivering prescriptive guidance on the development of straight-through processing, enabling workflow across multiple insurance applications. Insurance Technologies participated with two other IVC vendors, Impact Technologies Group Inc. and AdminServer Inc., to demonstrate straight-through-processing from point-of-sale through policy issuance for an annuity contract. Pre-integrating applications has the potential to reduce millions of dollars of post-purchase integration pain on the part of insurance customers.
“Insurance Technologies participation in our IVC program and contribution to our very first IVC labs showcases its commitment to delivering straight-through processing for the insurance industry,” said Kevin Kelly, managing director for the U.S. insurance industry at Microsoft. “We look forward to working with Insurance Technologies to assist insurance companies in developing service-oriented architectures (SOAs) and deploying pre-integrated software applications around core insurance business processes.”
The Microsoft IVCAF v1.0 promotes integration among best-of-breed software applications through Microsoft .NET web services and industry standards, such as ACORD. The architecture is the result of newly launched integration labs that have been held monthly since the beginning of 2006 on Microsoft’s Redmond, Wash., campus. The IVCAF will feature a library of production-quality integrations and composite applications, business narratives, Visio® process models, XML and Web services messaging recommendations, and platform-specific implementation guidance in major business areas.
“We are very pleased to be part of Microsoft’s IVC Architecture Framework v1.0, which further demonstrates Insurance Technologies’ commitment to our current client base and future customers,” said David Fenimore, SVP product development of Insurance Technologies. “By working with other Microsoft preferred vendors on the IVCAF v1.0, we are helping to provide a framework for accelerating our collective ability to deliver relevant technology solutions to the insurance industry.”
More information about the IVC program can be found at http://www.microsoft.com/industry/financialservices/insurance/businessvalue/default.mspx. More information on the IVCAF, as well as downloadable code, will be posted in June on the Microsoft Developer Network (MSDN®) program Web site at http://msdn.microsoft.com/architecture/industry.
About Insurance Technologies (www.insurancetechnologies.com)
Based in Colorado Springs, Colorado, Insurance Technologies LLC offers point-of-sale illustration software to the insurance and financial services industries. Insurance Technologies award-winning product, ForeSight™, supports all product types, including Life, Health, Annuities, Mutual funds, Critical Illness, DI, and LTC – all on a single mobile platform.