SOURCE: Exigen Insurance Solutions

Exigne Insurance Solutions

September 29, 2009 10:59 ET

Exigen Insurance Solutions to Provide Innovative SaaS Enterprise Solution to New Global Insurance Joint Venture

Exigen Insurance's Core Systems Chosen by Hollard for Industry-First Business Process Utility Delivered via Cloud Computing

SAN FRANCISCO, CA--(Marketwire - September 29, 2009) - Exigen Insurance Solutions (www.exigeninsurance.com), a leading provider of core systems that deliver measurable value and speed-to-market, today announced that it will provide policy administration, claims, billing and distribution software for a new joint venture between Hollard Insurance, South Africa and Exigen Capital. The joint venture is an innovative shared service "Business Process Utility" (BPU) that will offer insurers the industry's first end-to-end business process outsourcing solution delivered in a cloud computing model.

The joint venture's first customer is Hollard's Bank and Motor Division, which provides a wide range of insurance products through an extensive retail channel network. Using the Exigen Suite™ component solutions -- PolicyCore™, ClaimCore™, and BillingCore™ -- delivered as software-as-a-service (SaaS), the BPU will scale quickly to serve several additional insurers.

"A business process utility is a rapid path to business transformation for insurers. The joint venture combines an advanced process outsourcing delivery model with access to an industry-leading core system suite provided by Exigen Insurance," said Exigen Capital Partner, Yuri Shtivelman. "Insurers get the huge upside of being able to rapidly develop, launch and manage insurance products and their distribution, in addition to receiving the traditional outsourcing benefits of reduced and variable administration costs and improved business efficiency."

"Hollard has a reputation for innovation in both product and channel development. Supporting our business calls for an equally innovative technology approach," said Hollard CEO, Nic Kohler. "We expect operating costs will be below industry average due to the transformational impact of the Exigen Insurance SaaS platform and the shared services delivery model."

The joint venture is the first deployment of Exigen Insurance's core systems as SaaS, an innovative capability noted in Forrester Research's Hot Insurance Tech Companies to Watch in 2009 report. In the report, Forrester senior analyst Ellen Carney cited Exigen Insurance Solutions for offering "a soup-to-nuts SaaS suite of applications and services designed to help P&C insurers reduce operating costs. One of the key features ... is an insurance product management tool that allows users to easily create and maintain insurance offerings with little or no involvement by IT, speeding time-to-market and revenue." The report goes on to say the platform "... increases the efficiency of the insurer's people, processes and technology resources."

"We are especially pleased that Hollard has chosen Exigen Suite as the core platform for transformation of its diverse products and multiple markets," said Exigen Insurance Solutions CEO, Gwen Spertell. "Hollard's joint venture with Exigen Capital is a glimpse at the future of insurance IT. As the industry's first instance of full core systems functionality delivered through a SaaS computing model, the implementation marks a milestone in product development that underscores our commitment to industry leadership through innovation."

About Exigen Insurance Solutions: www.exigeninsurance.com

About Hollard Insurance: www.hollard.co.za

About Exigen Capital: www.exigencapital.com

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