"Pure" Product Configurator Will Enable CNA to Streamline Product Development Processes, Reduce Costs and Increase Capacity
TORONTO, June 19, 2007 - Camilion Solutions, a leading provider of insurance Product Development Solutions and Policy Administration Systems, today announced that CNA, the seventh largest commercial insurance writer in the United States, has chosen ProductAuthority™ as the product development solution for their specialty lines business. CNA will use ProductAuthority as a faster alternative to building a solution in-house, to streamline their product development processes, increase their product capacity and reduce costs.
"The CNA team are visionaries when it comes to product development and recognize the need to make 'true' product management a core competency," said Ross Orrett, Camilion's President and CEO. "Our powerful solution will be instrumental in helping them to meet their strategic growth objectives and we look forward to continuing to work with them to extend ProductAuthority's product management functionality."
Built to capitalize on a Services Oriented Architecture (SOA), ProductAuthority fundamentally changes the way insurers develop and implement products by completely separating product from process. A "pure" product configurator, ProductAuthority creates agility by externalizing all product data and rules from multiple, hard-coded operational systems into a central repository, where qualified business users can build and modify their own products. These reusable product definitions include all important product information -eligibility, packaging, underwriting rules and forms management -not just pricing or calculations. The integration of product definitions with important product-aware legacy applications, like Policy Administration Systems, is simplified by using Web Services. ProductAuthority also incorporates a product manager's Workbench to automate product development processes and test products prior to integration; a Product Catalog that gives all product stakeholders access to product features, rules and status; and a Publisher that generates full product specifications directly from the repository.
CNA (www.cna.com) is the seventh largest commercial insurance writer and the 13th largest property and casualty company in the United States. CNA's insurance products include standard commercial lines, specialty lines, surety, marine and other property and casualty coverages. CNA's services include risk management, information services, underwriting, risk control and claims administration. For more information, please visit CNA at www.cna.com. CNA is a registered service mark, trade name and domain name of CNA Financial Corporation.
About Camilion Solutions Inc.
With customers who are the world's largest insurers, Camilion Solutions, Inc. (www.productauthority.com) is a leading provider of enterprise Product Development Solutions and Policy Administration Systems for insurance.
Camilion uses its deep knowledge of the insurance industry to develop software solutions that enable insurers to launch new or modified products more quickly and efficiently than competitors, automate underwriting, enable straight-through processing for online sales, and deploy an agile, modern technology platform to better support current and future growth. Camilion is a privately owned corporation founded in 2000 with offices in Toronto and New York.
ProductAuthority™ and related names are trademarks of Camilion Solutions, Inc.
For further information:
Gwen Lannaman, Camilion Solutions, T: (905) 489-0752,
M: (416) 992-9557, [email protected]