Liberty Mutual Agency Markets Honored with ACORD® Award

Recognized for 3rd Consecutive Year for Leadership in Straight Through Processing

Boston, MA  - May 15, 2008 – Liberty Mutual Agency Markets, a business unit of Liberty Mutual Group, has received The Industry Leadership for Straight Through Processing Award from ACORD for the third consecutive year.

The award recognizes Agency Markets’ eight regional companies’ use of ACORD XML standards and real-time processing to improve workflow and productivity for their appointed agents. In 2007, American First Insurance™, Colorado Casualty™, Golden Eagle Insurance™, Indiana Insurance™, Liberty Northwest®, Montgomery Insurance™, Ohio Casualty™, and Peerless Insurance™ all added Claims Download and, through IVANS Transformation Station(sm), website sign-on to the regional companies’ agent portals. 

Agency Markets also added the following business functions that support data sharing and transactions: Commercial Property Download (monoline); General Liability Download (monoline); and Commission Data Download.

Peggy Scott, assistant vice president, Agency Markets, and manager, Agency Services, accepted The Industry Leadership for Straight Through Processing Award earlier this week at the ACORD LOMA Insurance Systems Forum held in Las Vegas, Nevada.

“Making it easier for our agents to deliver exceptional products and services gives them the competitive edge to achieve profitable growth,” said Ms. Scott. “We’re proud that ACORD has again recognized our industry-leading real-time and download automation tools. It reflects our continuing efforts to save our agents time and help them better serve their customers.”

The Agency Markets regional companies previously released the following business processes using a real-time workflow: personal lines quoting for Auto, Home, Package, and Umbrella; commercial lines quoting for BOP, Commercial Auto, Workers’ Compensation, General Liability; and Commercial Property; First Notice of Loss; and inquiries for policy view, billing, claims, and loss runs.

John Kellington, senior vice president, ACORD said, “I congratulate Agency Markets and its regional companies, not only for this year’s Straight Through Processing Award, but also for their continued leadership in implementing ACORD data standards that improve both their communication and integration.”

The regional companies are also participants in the industry-wide Real Time/Download Campaign, which encourages agencies to implement real-time transaction capabilities within their agency management systems and to increase usage for those agencies already equipped with these interface applications. Agents can learn more about the campaign by visiting www.getrealtime.org and clicking on any of the regional companies’ logos.

About Liberty Mutual Agency Markets

Liberty Mutual Agency Markets, a business unit of Liberty Mutual Group, consists of property and casualty and specialty insurance carriers that distribute their products and services primarily through independent agents and brokers. Core property and casualty products, including a comprehensive set of personal and commercial coverages, are available in most states by the following companies:

• America First Insurance™ (Gulf Region)
• Colorado Casualty™ (Mountain Region)
• Golden Eagle Insurance™ (California)
• Indiana Insurance™ (Midwest Region)
• Liberty Northwest® (Pacific Northwest Region)
• Montgomery Insurance™ (Southeast Region)
• Ohio Casualty™ (Mideast Region)
• Peerless Insurance™ (Northeast Region)

Other operations include:

• Summit® (Southeast region; mono-line workers' compensation)
• Liberty Mutual Surety™
• Liberty Agency Underwriters™, which includes Bond and Excess Casualty operations

Liberty Mutual Group ranks 94 on the Fortune 500 list of the largest U.S. corporations based on 2007 revenues. The company has financial strength ratings of A (Excellent) from the A.M. Best Company, A2 (Good) from Moody’s Investors Service, and A (Strong) from Standard & Poor’s.

About ACORD

Based in New York, ACORD (Association for Cooperative Operations Research and Development) is a global, non-profit insurance association whose mission is to facilitate the development and use of standards for the insurance, reinsurance and related financial services industries. With offices in London as well, ACORD accomplishes its mission by remaining an objective, independent advocate for sharing information among diverse platforms.

Contact:

Christopher Goetcheus, 774-279-5923
or [email protected]