REDWOOD SHORES, Calif., June 8 /PRNewswire-FirstCall/ -- Communication Intelligence Corporation ("CIC") (OTC Bulletin Board: CICI), the leading supplier of electronic signature solutions to the insurance industry announced today that a top five US insurance carrier and a top ten auto insurance company have successfully deployed self service auto insurance solutions leveraging CIC's SignatureOne® Ceremony® Server. The solutions allow the insurers' customers to apply for and bind an auto insurance policy during a single visit to their website without any agent assistance.
The shift in current technology deployments to a Services Based Architecture enables CIC customers to rapidly customize, configure, and implement its product. For instance, one of these initial deployments was live on the customer's website in less than 90 days and received rave reviews from senior management at the carrier.
"Industry analysts such as TowerGroup confirm that the number one driver for insurance carriers in the US, North America and Western Europe, is expense reduction. Insurance companies have to reduce expenses because their premiums have been significantly impacted. They are now going on six years of decreased premiums due to competitive pressures. Based on recent events in the financial markets the carriers cannot count on investment income to make up the difference as they did in past years and therefore must now focus on expense reduction," stated Guido DiGregorio, CIC's Chairman & CEO. "Insurers offering a fully electronic and automated quote to bind process on their web portals can also significantly decrease the cycle time, improve customer satisfaction which increases acquisition rates and reduces attrition rates, and accelerate collection of initial premiums. This has been made possible with our electronic signature technology that enables the final stage of the final steps of the workflow and eliminates the need for paper processing."
The SOA design and capabilities of the SignatureOne Ceremony Server allow CIC customers to expand its usage for other products or lines of business as an integral service within their enterprise architecture. These insurers are currently integrating with other application processes and are expected to have additional products and business lines benefitting from this within the next few months.
Communication Intelligence Corporation ("CIC") is the leading supplier of electronic signature products to the Financial Industry and the recognized leader in biometric signature verification. CIC enables companies to achieve truly paperless workflow in their eBusiness processes by providing multiple signature technologies across virtually all applications in SaaS and fully deployed on-premise delivery models. CIC based solutions afford Straight Through Processing (STP) which increases revenue by enhancing the customer experience and significantly reduces costs through paperless, virtually error free electronic transactions together with significant business cycle compression.
Financial Industry leaders including AGLA, Allstate, American Family, Charles Schwab, JP Morgan Chase, Nationwide (UK), Prudential, Snap-on Credit, Travelers, Wachovia, Wells Fargo and WFG (World Financial Group) chose CIC's products to meet their needs. CIC has deployments with over 400 channel partners and enterprises worldwide representing millions of end users. CIC sells directly to enterprises and through system integrators, channel partners and OEMs. CIC is headquartered in Redwood Shores, California and has a joint venture, CICC, in Nanjing, China. Fore more information, please visit our website at http://www.cic.com
Forward Looking Statement
Certain statements contained in this press release, including without limitation, statements containing the words "believes", "anticipates", "hopes", "intends", "expects", and other words of similar import, constitute "forward looking" statements within the meaning of the Private Litigation Reform Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors which may cause actual events to differ materially from expectations. Such factors include the following (1) technological, engineering, quality control or other circumstances which could delay the sale or shipment of products containing the Company's technology; (2) economic, business, market and competitive conditions in the software industry and technological innovations which could affect the Company's business; (3) the Company's inability to protect its trade secrets or other proprietary rights, operate without infringing upon the proprietary rights of others or prevent others from infringing on the proprietary rights of the Company; and (4) general economic and business conditions and the availability of sufficient financing.
CIC's logo, SignatureOne, Ceremony and the Power to Sign Online are registered trademarks of CIC. All other trademarks and registered trademarks are the property of their respective holders.
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SOURCE Communication Intelligence Corporation