Deal Positions Camilion to Accelerate Growth in Mid-Market And Will Optimize Insurer's Ability to Service Agents
TORONTO, Jan. 20 /PRNewswire/ - Camilion Solutions(TM), a leading provider of insurance product development solutions and modern P&C policy administration systems that create enterprise product agility, today announced that Mid-Continent Group, a member of American Financial Group, has selected Camilion Authority Suite as their policy administration system. Authority Suite will support Mid-Continent Group's full commercial lines in all 50 states. In production with some of the world's largest insurers, Authority Suite has provided same day policy issuance and has been proven to reduce policy administration and product development costs by 25% and enable the development of new products in weeks, not months.
"Mid-Continent Group realizes that now is the time to prepare for the economic rebound and that the right policy administration system will play a pivotal role in creating new market and revenue opportunities," says Jim Davis, Vice President, Commercial Underwriting, Mid-Continent Group. "Camilion's Authority Suite is a modern, configurable, Web-based solution that will give us the flexibility and agility we need to support our future growth while helping us meet our objective to optimize service to our agents. With sophisticated product configuration capabilities that allow trained business users to modify and develop their own insurance products, and Camilion's proven knowledge transfer program, Authority Suite will give us the self-sufficiency we want."
Leveraging a Service-Oriented Architecture (SOA) and built on the most modern, tools and rules-based technology platform, Authority Suite supports the entire policy lifecycle including application data capture, qualification, rating, quote management, bind, issuance, all the required policy endorsement functionality and easy integration to other enterprise systems. Authority Suite, which features a consolidated underwriting workstation and straight through processing, is powered by Camilion ProductAuthority(R), the world's only "true" product development and management solution. ProductAuthority creates agility by externalizing all product data and rules from multiple, hard-coded operational systems into a central product repository, where complex products can be easily configured and modified.
"Our first mid-market customer, Mid-Continent Group will reap the benefits of a modern policy administration built to provide the functionality, agility and expense reduction that Tier 1 insurers have been demanding," says Ross Orrett, Camilion's CEO and President. "This win proves that Authority Suite is a solution that can effectively "scale down" to meet the needs of the mid-market. We appreciate the confidence that Mid-Continent Group placed in our proven solution and our track record when they made the decision to purchase Authority Suite."
About Mid-Continent Group
Mid-Continent Group - a part of American Financial Group - consists of Mid-Continent Casualty, Mid- Continent Assurance and Oklahoma Surety, all admitted insurers. Mid-Continent Casualty Company is licensed in 33 states, with written premium in all 50 states. Mid-Continent Casualty does business through the Independent Insurance Agency system and has 547 Agencies in 33 states. It is primarily an underwriter of commercial casualty business with an emphasis on General Liability. It also writes Umbrella, Inland Marine, Commercial Auto, Surety and Private Passenger Auto. Mid-Continent Group is operated by a management team that has been in place since 1991. During that timeframe the Group has seen exceptional growth and excellent profit. These results have been achieved by management's strong product knowledge, niche-focused marketing efforts and adherence to disciplined underwriting and pricing standards. For more information, visit www.mcg-ins.com.
About Camilion Solutions(TM) Inc.
Camilion Solutions, Inc. (www.camilion.com) is a leading provider of world-class insurance product development solutions and modern P&C policy administration systems that create product agility. With some of the world's largest insurers as customers, Camilion uses its deep knowledge of the insurance industry to enable mid-to-large size insurers to concurrently develop or modify quality products, get these products to market faster, automate underwriting, enable straight-through processing, and deploy a modern technology platform - all while mitigating risk and reducing costs. Founded in 2001, Camilion is a privately owned corporation with offices in Toronto and New York.
Authority Suite(R), ProductAuthority(R), and related names are trademarks of Camilion Solutions, Inc. All other products and services mentioned are trademarks of their respective companies.
SOURCE Camilion Solutions Inc.