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Issue November 2, 2009 |
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OKEMOS, Mich.—Sircon Corp., a wholly owned subsidiary of Bothell, Wash.-based Vertafore Inc., has released updated versions of its software programs serving insurance brokers and insurance companies.
The company's online network connects insurance companies and brokers with state regulators.
The Sircon for Carriers platform, which helps insurers process producer requests, features producer records continuously updated by the National Producer Database, the Okemos, Mich.-based software company said. In addition, when processing license applications, users can now see state producer status results, including approvals and denials, by their specific qualification or line of authority.
The Sircon for Agencies and Brokers platform, which helps brokerages process agent licensing and renewal transactions, also has been enhanced, the company said. The program features an “active licenses and appointments” report to help streamline communication from state insurance departments and improve overall compliance efforts, the company said.
The program allows users to know “at a glance which producer can sell which policy for which carriers in which state,” the company said.
For more information, contact Scott Morrison, vp of marketing, at 517-381-3828 or smorrison@sircon.com.
NEW YORK—Willis Re Inc., the reinsurance unit of Willis Group Holdings Ltd., has launched a service for insurers to evaluate how much overall risk they are taking.
The Value Based Capital Management service is aimed at helping insurers manage their capital and determine which products help protect a company's value.
According to Willis Re, the program begins with a comprehensive assessment of an insurer's overall risk from multiple sources, including underwriting, adverse loss reserve development, stock market volatility, bond defaults and reinsurer defaults, all of which relies on the insurer's data.
In addition, the customized program addresses how much and what form of capital a firm should have given its risk profile, with a specific focus on the types of capital that will maximize an insurer's value.
The program addresses the “trade-off between maximizing earnings and protecting risk,” Willis Re said in a statement.
For more information, contact William H. Panning, executive vp, at bill.panning@willis.com or visit www.vbcm-willisre.com.
WILKES-BARRE, Pa.—AllOne Health Group Inc. said it plans to introduce a health and productivity management model to help employers integrate employee benefits and wellness program offerings.
The company has partnered with Philadelphia-based Reliance Standard Life Insurance Co. on the program, according to a statement.
RelianceOne aims to integrate wellness, disease management and employee assistance programs with disability and absence management services, the company said.
In addition, the program streamlines relevant data and offers customized reports to help organizations “provide earlier points of intervention,” the companies said.
The program aims to reduce direct health care costs, decrease employee absences, and reduce the frequency and duration of employee disability.
RelianceOne will be tested with employers beginning in March 2010 and is expected to be available in 2011. For more information, call 800-351-7500, ext. 3741; or e-mail RelianceONE@rsli.com.
MEMPHIS, Tenn.—Sedgwick Claims Management Services Inc. has introduced a Medicare compliance program for organizations that are paying workers compensation or medical liability claims to individuals who are eligible for Medicare.
The third-party administrator said its Sedgwick CMS Medicare Solution helps organizations comply with Medicare set-aside determinations, calculates reimbursement amounts, and offers conditional payment negotiation and resolution consulting services. In addition, the program coordinates services with reporting obligations under the Medicare, Medicaid and SCHIP Extension Act of 2007, the company said.
Memphis, Tenn.-based Sedgwick CMS said the service can help organizations meet the burden placed on them by the federal government's enforcement of the Medicare Secondary Payer Act.
The program aims to align Medicare services with an organization's core claims management program, rather than being an “unrelated administrative afterthought,” the company said.
For more information, contact Michael Merlino, Medicare compliance director, at 678-628-1336.
For reprints of this story, please contact Lauren Melesio at 212-210-0707 or email lmelesio@crain.com
