Fiserv Insurance Solutions Announces Policy STAR Version 1.2
Fiserv Insurance Solutions Announces Policy STAR Version 1.2
November 15, 2004
Fiserv Insurance Solutions Announces Policy STAR Version 1.2CEDAR RAPIDS, Iowa--Nov. 15, 2004--Fiserv Insurance Solutions, a unit of Fiserv, Inc. (Nasdaq: FISV) and a provider of innovative solutions for the insurance industry, announced availability of Version 1.2 of Fiserv's Web-based Policy STAR® system.
The policy administration system's new version extends property-casualty insurers' capability to cut time-to-market with new products, contain maintenance expense, and improve operational efficiency and data accuracy. Program features found in the latest version include enhancements for renewals and cancellations and a migration path from legacy systems to Policy STAR.
"The new version of Policy STAR delivers competitive advantages to insurers interested in business process transformation," said Tony Perdichezzi, president and CEO of Fiserv Insurance Solutions. "The system empowers business users to establish and maintain significant functionality that notably increases insurance carriers' agility in the marketplace."
Version 1.2 also offers new functionality in class code maintenance, risk units and sub units, flexibility for optional values, system administration login security, and retrieval of client information during renewals. Client information resides in an integrated central repository called Client CORE®, which houses all client names, addresses and relationships.
Policy STAR offers an open architecture and platform independence while utilizing the J2EE (Java 2 Enterprise Edition) platform, which enables users to make business changes in a centralized environment. Insurance carriers can implement Policy STAR independently or integrated with Fiserv Insurance Solutions' J2EE-based Claims Workstation and Fiserv Advanced Billing systems.
Fiserv Insurance Solutions specializes in progressive software and outsourcing solutions for the insurance industry. Hundreds of carriers, managing general agents and third-party administrators rely on Fiserv for policy, rating, claims, billing and reinsurance administration, as well as point-of-sale solutions and straight-through processing. In addition, more than 3,000 companies use the company's market leading financial and compliance solutions. Fiserv Insurance Solutions can be found on the Internet at www.fiservinsurance.com.
Fiserv, Inc. (Nasdaq: FISV) provides information management systems and services to the financial industry, including transaction processing, business process outsourcing and software and systems solutions. The company serves more than 15,000 clients worldwide, including banks, broker-dealers, credit unions, financial planners and investment advisers, insurance companies and agents, self-funded employers, lenders and savings institutions. Headquartered in Brookfield, Wis., Fiserv reported $2.7 billion in processing and services revenues for 2003. Fiserv can be found on the Internet at www.fiserv.com.
The policy administration system's new version extends property-casualty insurers' capability to cut time-to-market with new products, contain maintenance expense, and improve operational efficiency and data accuracy. Program features found in the latest version include enhancements for renewals and cancellations and a migration path from legacy systems to Policy STAR.
"The new version of Policy STAR delivers competitive advantages to insurers interested in business process transformation," said Tony Perdichezzi, president and CEO of Fiserv Insurance Solutions. "The system empowers business users to establish and maintain significant functionality that notably increases insurance carriers' agility in the marketplace."
Version 1.2 also offers new functionality in class code maintenance, risk units and sub units, flexibility for optional values, system administration login security, and retrieval of client information during renewals. Client information resides in an integrated central repository called Client CORE®, which houses all client names, addresses and relationships.
Policy STAR offers an open architecture and platform independence while utilizing the J2EE (Java 2 Enterprise Edition) platform, which enables users to make business changes in a centralized environment. Insurance carriers can implement Policy STAR independently or integrated with Fiserv Insurance Solutions' J2EE-based Claims Workstation and Fiserv Advanced Billing systems.
Fiserv Insurance Solutions specializes in progressive software and outsourcing solutions for the insurance industry. Hundreds of carriers, managing general agents and third-party administrators rely on Fiserv for policy, rating, claims, billing and reinsurance administration, as well as point-of-sale solutions and straight-through processing. In addition, more than 3,000 companies use the company's market leading financial and compliance solutions. Fiserv Insurance Solutions can be found on the Internet at www.fiservinsurance.com.
Fiserv, Inc. (Nasdaq: FISV) provides information management systems and services to the financial industry, including transaction processing, business process outsourcing and software and systems solutions. The company serves more than 15,000 clients worldwide, including banks, broker-dealers, credit unions, financial planners and investment advisers, insurance companies and agents, self-funded employers, lenders and savings institutions. Headquartered in Brookfield, Wis., Fiserv reported $2.7 billion in processing and services revenues for 2003. Fiserv can be found on the Internet at www.fiserv.com.