SOURCE: EFFISOFT

Effisoft

October 09, 2015 06:03 ET

State Auto Chooses Effisoft's WebXL for Reinsurance Administration

Adopts Hybrid Model Offering Local Control and Outsourced Maintenance

DALLAS, TX--(Marketwired - Oct 9, 2015) - State Auto Insurance Companies, Columbus, Ohio, has chosen Effisoft USA's WebXL software for ceded reinsurance administration. Effisoft USA, Dallas, is the North American division of Effisoft, Europe's leading vendor of reinsurance software

State Auto will gain a comprehensive solution capable of administering its multiple reinsurance arrangements.

"WebXL is a critical piece of our overall effort to improve reinsurance administration and processing," said Matt Pollak, vice president, chief accounting officer and treasurer at State Auto. "WebXL will enable us to streamline and automate our reinsurance process, thus simplifying regulatory compliance."

WebXL will replace the legacy systems, Access database, and manual processes State Auto uses to manage reinsurance. 

"State Auto came to us with specific requirements about how their system would have to meet their unique needs," said Joseph Sebbag, CEO of Effisoft USA. "It was gratifying to be chosen after an exhaustive selection process."

State Auto selected a hybrid model, which provides what most insurers demand: retention and ownership of company data while outsourcing software management. Both the application and database servers are installed on site at State Auto. Effisoft, however, remotely manages and maintains the WebXL platform, Sebbag said.

The project kicked off in September and is scheduled for completion in less than a year.

State Auto Insurance Companies markets products and services through independent insurance agencies, which include retail agencies and wholesale brokers. Group assets are in excess of $4.1 billion, with 2014 direct written premium of $2.1 billion. The corporate headquarters is in Columbus, Ohio, where State Auto was founded in 1921. Regional headquarters are located in Nashville, Tenn., Indianapolis, Ind., Columbus, Ohio, Austin, Texas and Baltimore, Md.

The State Auto Group is rated A- (Excellent) by the A.M. Best Company and consists of State Automobile Mutual, State Auto Property & Casualty, State Auto Ohio, State Auto Wisconsin, Milbank, Meridian Security and Patrons Mutual, Rockhill Insurance, Plaza Insurance, American Compensation and Bloomington Compensation. 

Effisoft USA (www.effisoftusa.com) is a subsidiary of Effisoft, a global leader in reinsurance software. With more than 300 customers on five continents, Effisoft is headquartered in Paris, France, and serves clients from offices in Dallas, London, Singapore and Johannesburg. Since its release 20 years ago, WebXL has been successfully implemented at insurers in 14 nations on five continents.

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