Paragon Implements Straight-Through Solution for Conseco Insurance Companies

Portal-Based Solution with Electronic Application and Digital Signature Capabilities Streamlines Underwriting Process

Cranford, NJ.  January 31, 2005 - Paragon Solutions, an information technology solutions firm, announced today the implementation of Conseco EzApp, a straight-through insurance solution for Conseco companies.  The portal-based solution Paragon developed includes electronic application and digital signature capabilities that integrate with back-end systems giving Conseco an advantage in introducing new products, reducing cycle time to issue new policies and paying commissions to agents faster.

"The solution has positioned Conseco as a leader," said Mike Cloutier, insurance solutions director for Paragon.  "Industry surveys show that many carriers are looking to build some type of electronic application with e-signature functionality in the next two years.  With this straight-through approach, Conseco has reduced underwriting time with less paperwork, fewer errors and fewer incomplete applications," Cloutier said.

Conseco agents can now enter new business applications electronically from their laptops and later log into their agent portal to upload the new client data and check status of cases in underwriting.  The business process management component ensures that all the relevant information such as, state-specific forms and disclosure language is captured before final submission.  The digital signature and integration components of the solution successfully complete the straight-through processing.

"In partnership with our marketing and sales department, we are continuing to deliver technology solutions that make Conseco easier to do business with," said Gary Brown, Conseco CIO. "We are very excited to introduce Conseco EzApp. In utilizing electronic signature and transmission capabilities, Conseco EzApp reduces paperwork and eliminates errors for the agent at point-of-sale, while allowing our back office to process new business applications faster. Early response from Conseco agents has been very positive". 

Brown added, "We selected Paragon as our partner for this project because of its expertise and experience in delivering straight-through solutions, along with extensive industry knowledge."

Paragon offers its electronic application (EApp™) framework to insurance and financial services firms.  Once the framework is implemented, firms can save 20-50 percent in their cycle time for new business acquisition.  The framework is part of Paragon’s STP suite of solutions for insurance that include front-end data capture through EApp, adaptors for data integration with third parties, content management and business process management.

About Paragon

Paragon, a division of Paragon Computer Professionals, is a management and technology consulting firm that specializes in helping clients leverage information assets for better business results. The company does this through its vertical go-to-market solutions and its technology service lines focused on key technologies.

The verticals Paragon serves include: financial services, insurance, telecommunications and life sciences. The company’s specialized technology practices include: business intelligence, content management, data management, relationship management, Web services and outsourcing.

About Conseco

The Conseco insurance companies serve nearly 5 million customers across America. Conseco's cancer, heart/stroke, accident and Medicare supplement policies protect people against major unplanned expenses; Conseco's annuities and life insurance products help people plan for their financial future.
For more information, please visit the Paragon Web site at www.consultparagon.com.

Or contact,
Martha Coacher
Paragon Computer Professionals, Inc.
(908) 653-3100
[email protected]