Webify Solutions Announces Four New Products for the Insurance Industry; Webify SOBA Fabric(TM) and Webify SOBA Suite Transform Policy, Claims and New Business Acquisition Processes

ORLANDO, Fla., May 23, 2005  - Webify Solutions, a leading provider of industry-specific, service-oriented business software, is announcing four new products for the insurance industry at the ACORD LOMA conference in Orlando. ACORD LOMA is the insurance industry's annual event, bringing together industry stakeholders including insurers, reinsurers, and financial services companies. Webify is demonstrating its new products as part of the Webify Insurance on Demand offering at ACORD LOMA from May 23-25 in the IBM Booth, Pedestal 10.

SOBAs Defined to Meet Vertical Needs

Webify's Insurance products address critical needs in a highly competitive industry facing a shifting array of business challenges such siloed operations, agency loyalty and legacy modernization. SOBAs are Service Oriented Business Applications, defined by Gartner as "a collection of Web services built around a complex, end-to-end business process and optimized to a specific vertical industry".

Webify Insurance on Demand

Webify Insurance on Demand consists of the Webify SOBA Fabric(TM) and the Webify SOBA Suite for Insurance. These products allow insurers to innovate and transform core business processes such as claims, policy and new business to drive sales, simplify distribution and improve customer service. Webify's new insurance products squeeze out costs and inefficiencies while enabling faster response times in these core business functions. Webify's products provide an incremental approach to align Business and IT, enabling new breakthroughs in business agility and performance, and allowing the insurance carriers to achieve their goals of becoming more agile and easier to do business with.

Webify's four insurance products being announced at ACORD LOMA include:

1. Webify New Business SOBA(TM) allows insurers to innovate and transform their new business acquisition process by proactive
screening of incoming risk, field underwriting, straight-thru or exception based processing of quotes, and one touch issuance into insurer policy management systems across multiple lines of business and products. These capabilities drive revenue and reduce costs via improved agent loyalty and customer retention.

2. Webify Claims Management SOBA(TM) allows insurers to improve claim service levels through prompt, fair, and accurate claims resolution while reducing claims processing costs. Claims Management SOBA leverages carrier's existing IT assets and combines them with new capabilities around flexible claims intake (FNOL), proactive fraud detection and subrogation handling (3rd party service providers), and intelligent claims routing (Business rules).

3. Webify Policy Management SOBA (TM) delivers improved risk qualification, enhanced policy visibility, and rich notifications related to enrollments, renewals and cancellations. These capabilities improve policy holder retention, provide personalized policy holder services, and improve distribution channel visibility to capitalize on cross and up-sell opportunities.

4. Webify SOBA Fabric(TM) for Insurance is a complementary, industry specific business alignment and SOA lifecycle governance product that addresses and simplifies business, technology, security, and process interoperability issues raised by SOA. Webify SOBA Fabric provides a SOA governance and semantic assurance layer across enterprise, B2B, and ecosystem partners enabling companies to break down silos and respond to business and customer needs on demand. Webify SOBA Fabric runs on Linux, AIX, and Windows platforms, and has been optimized to IBM Websphere middleware.

All Webify Insurance SOBAs support multiple communication channels (Web, B2B and IVR), and are built to ACORD, IAA, and WS-I industry standards and specifications. Webify products are certified by IBM as "On Demand Optimized."

"Webify and IBM have partnered successfully and are delivering compelling business value to our joint customers," said William Pieroni , general manager of IBM's global insurance practice. "IBM's insurance industry expertise and middleware capabilities, combined with Webify's vertical solutions allow our insurance customers to improve business agility and performance."

These four new products continue to expand Webify's vision of enabling the on demand enterprise for the insurance industry. "Our goal is to enable new game changing business capabilities for our clients by better aligning IT and business objectives through our solutions," said Manoj Saxena , CEO of Webify Solutions. "Our new insurance products will allow our clients to achieve incremental business transformation by extending and reusing, rather than ripping out or replacing existing IT investments."

About Webify Solutions

Webify Solutions is a leading provider of vertically based, service- oriented business software. The Webify SOBA Fabric(TM) and Webify SOBA Suite of products enable companies to improve business agility, streamline operations, and generate new revenue by extending their existing IT systems and avoiding unnecessary and costly rip-and-replace. Webify products are built with deep vertical domain expertise and designed to industry and Web services standards. Webify was named by Gartner as a Transformative Technology Vendor. Privately held Webify Solutions is headquartered in Austin, Texas with offices in Europe and India. More information can be found at http://www.webifysolutions.com/ .

CONTACT:

Shaku Selvakumar of Webify Solutions,
512-334-3218
[email protected]
Web site: http://www.webifysolutions.com/