COUNTRY Financial Selects PolicyWriter Suite as Its Policy Administration Platform
Adaptik Corporation today announced that COUNTRY Financial has licensed Adaptik's PolicyWriter software suite to serve as the heart of its next generation personal lines policy administration platform.
- Allentown-Bethlehem-Easton, PA (1888PressRelease) December 07, 2011 - Adaptik Corporation, the creators of the PolicyWriter Suite, today announced that COUNTRY Financial, a Fortune 1000 insurance and financial services company based in Bloomington, Ill., has licensed Adaptik's PolicyWriter software suite to serve as the heart of its next generation personal lines policy administration platform. PolicyWriter will replace COUNTRY Financial's legacy systems that currently support all of its personal lines business, including auto, home and agribusiness.
COUNTRY conducted a thorough search for a policy administration platform that would provide flexibility to support its growth objectives, as well as, achieve greater efficiencies in terms of time to market and lower maintenance costs. Key required features for COUNTRY included:
• A common intuitive system to support all of its personal lines
• Straight through processing throughout the life cycle of the policy
• Real-time transactional processing
• Single-step out-of-sequence transaction processing.
• Pre- integration with leading rating and billing solutions
"We evaluated several vendors in the P&C policy administration space. It was important for us to select a company that provided not only top-notch software but would also be a true business partner over the life of our implementation," said Alan Reiss, Senior Vice President of Service Operations of COUNTRY Financial. "Throughout the review process, we were impressed with PolicyWriter's configurability, depth and breadth of policy administration functionality included in the solution and the knowledgeable Adaptik team. Adaptik has built the next generation of policy administration solutions and we look forward to continuing working with them."
PolicyWriter will enable COUNTRY Financial to not only match, but significantly exceed, current business functionality by:
• Leveraging a single platform to support its financial representatives and internal users across all lines of business
• Rapidly responding to market demands for new or refined products as well as regulatory changes
• Realizing operational agility through automation and rules-based straight-through processing
• Easily incorporating data from 3rd parties and other COUNTRY systems through configured web services, and
• Reducing short and long term maintenance costs over the life of the system
"We are very proud that COUNTRY Financial has selected the PolicyWriter suite to modernize their policy processing," said John Pettit, President and CEO of Adaptik Corporation. "COUNTRY conducted a very extensive vendor search and proof of concept, focusing on solving their toughest policy administration challenges. They thoroughly vetted PolicyWriter and tested our teams' skill and knowledge. In the end, they confirmed for us that adaptive policy administration is what the market demands. COUNTRY Financial's progressive attitude and commitment to ongoing success makes them a great fit for PolicyWriter. We look forward to partnering with them on this foundational project that will have long-reaching positive impact on their business."
About PolicyWriter
PolicyWriter is an adaptive policy administration suite conceived specifically for Personal, Commercial, Specialty and Worker's Compensation insurance carriers. It leverages modern, open technologies and rule-based configuration to drive business agility and lower total cost of ownership. The PolicyWriter suite includes a distinct, yet fully integrated, set of applications: PolicyWriter Product Designer, PolicyWriter Account Manager, PolicyWriter Task Manager and PolicyWriter Customer Manager. These components work together to provide a flexible and scalable product development, core policy administration processing, task management and customer management solutions. With PolicyWriter, customers can expect to go beyond policy administration replacement to true policy administration modernization.
About COUNTRY Financial
COUNTRY Financial (www.COUNTRYfinancial.com), serves more than one million households and businesses throughout the United States. Founded in 1925, COUNTRY has more than 2,000 financial representatives in 14 Midwestern and Western states who help families build a financially secure future, no matter where they're starting from. COUNTRY offers a full range of financial products and services, including auto, home, life and long term care insurance, annuities, mutual funds and college savings plans.
About Adaptik Corporation
Adaptik, the creator of PolicyWriter, develops highly adaptive policy administration software solutions that are designed to improve speed-to-market, drive operational agility and scale to support large numbers of users and high transaction volumes. Adaptik is dedicated to providing P&C insurers with advanced business functionality while substantially lowering the risks and costs associated with policy administration system replacement and maintenance.
Media Contact
Gwen Hoover
610-421-8601 ext. 105
gwen ( @ ) altitudemarketing dot com
Corporate Contact
Laura Ford, Vice President of Product Management
800-306-1062 ext. 109
lford ( @ ) adaptik dot com
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