Contact Information: For further information, please contact: Media Contact: Jennifer Overhulse-King St. Nick Media Services (859) 803-6597 Marc Dutton Managing Director FJA-US, Inc. 512 Seventh Ave - 15th Floor New York, NY 10018 Phone: 212-840-2618 Email:
Chubb Licenses FJA's Product Machine
| Source: FJA-US
NEW YORK, NY--(Marketwire - November 10, 2009) - Chubb Group of Insurance Companies has
licensed the FJA-US Product Machine to re-engineer the policy
administration system behind its Masterpiece® personal insurance product
line. The Product Machine is the cornerstone of a multi-year collaborative
modernization effort.
Masterpiece® meets the needs of affluent consumers by helping to provide
protection against losses to high-value residences, private passenger and
collector vehicles, valuable articles and watercraft, as well as excess
liability. Product modelers are using FJA's Product Definition System to
define coverage availability, control limits and deductibles, implement
product rules and define rating calculations for Masterpiece® in all 50
states.
Then business application integrators use the Product Machine SOA compliant
services to access the product information to accomplish important business
tasks, such as policy administration functions Quote and Endorsement.
"The Product Machine will enable us to externalize all product rules and
rating, allowing us to be even quicker to market," said Drew LaGravenese,
senior vice president, Chubb Personal Insurance.
This is the second system Chubb has modernized using FJA's Product Machine.
In 2008, Chubb used FJA's Product Definition System to model its yacht
product and FJA's Product Machine Services to drive the product's policy
administration functions.
About Chubb
The member insurers of the Chubb Group of Insurance Companies form a
multi-billion dollar organization providing property and casualty insurance
for personal and commercial customers worldwide through 8,500 independent
agents and brokers. Chubb's global network includes branches and affiliates
in North America, Europe, Latin America, Asia and Australia. More
information on Chubb is available at www.chubb.com/personal.
About FJA
FJA-US, Inc., combines expertise in actuarial science, business and
technology to deliver packaged and custom software solutions for the
insurance industry. Our core offering is the Product Machine, which helps
companies shorten the time and reduce the cost of product development. In
addition, the company offers applications that cover Sales & Service,
illustration/proposal, plan configuration and rating. FJA-US, Inc.
headquartered in New York City, is a subsidiary of COR&FJA AG, Munich
Germany, a leading consulting and Software Company specializing in the
insurance industry. COR&FJA is publicly-traded on the Frankfurt stock
exchange.