AgencyPort Joins Pegasystems Alliance Program; AgencyPort to Design and Implement Solutions Based on PegaRULES Process Commander Smart BPM Platform
CAMBRIDGE, Mass., July 8, 2003 — Pegasystems Inc. (NASDAQ: PEGA), a leading provider of rules-based, smart business process management software (BPM), today announced that it has signed AgencyPort, a provider of portal software to property and casualty insurance companies, as a solutions partner to support the commercialization of PegaRULES Process Commander. AgencyPort will design and implement client-specific BPM solutions using PegaRULES Process Commander, combined with its KeyOnce™ software for the insurance industry.
AgencyPort's KeyOnce software offers insurance companies a suite of privately labeled web-based applications that automate transactions and communication with their distribution partners. AgencyPort's component-based KeyOnce software helps insurance product providers lower the cost associated with distribution.
Combined with PegaRULES Process Commander, AgencyPort will provide solutions to help automate underwriting, transaction and communication activity between insurance companies and their distribution channel. The joint solution will help reduce operating costs and enhance enterprise value with distribution partners. The solution will also help improve loss ratios, increase revenues and provide a more efficient buying experience for distribution partners.
AgencyPort will also help create and distribute PegaRULES RuleSets, a collection of best practices and procedures that describe how to resolve a specific business function or problem. AgencyPort will work with Pegasystems to build and deliver pre-packaged, market-specific RuleSets based on industry best practices.
"The flexibility and agility of PegaRULES Process Commander will help us to deliver our solution more quickly to market, because it's built using business rules," said Steven Hauck, co-founder and executive vice president, AgencyPort. "By combining a sophisticated business rules engine with proven process management, as well as component-based portal software with significant property and casualty domain expertise, Pegasystems and AgencyPort are poised to deliver a product that will drive down the cost of product distribution for our customers."
"We are committed to creating solutions with AgencyPort that will help bring a high return on investment for our joint customers," said Paul McNulty, vice president, PegaRULES, Pegasystems. "Our joint solutions will help insurers to adapt quickly to changing market conditions, save money by reducing common errors in the claims-submission process, and leverage an organization's existing IT infrastructure. AgencyPort has the depth of experience in the insurance industry to help our products become more competitive and add greater value for our customers."
Pegasystems is building a comprehensive Alliance Program, comprised of three types of partnerships: services partners, solution partners, and technology partners. Services partners are system integrators and consultants that scope, design, build, deploy and/or manage client-specific, Pegasystems-based implementations. Solution partners are software development companies that develop repeatable market-specific solutions, based on a combination of partner and Pegasystems technology. Technology partners are companies that interact with, complement or add value to Pegasystems technology.
AgencyPort Insurance Services, Inc. is a software company focused on improving traditional distribution within the global insurance marketplace. Utilizing Java and XML technologies, AgencyPort provides Property & Casualty insurance companies with component-based software to help rapidly and cost-effectively deploys agency portals to significantly improve transactional business processes. Insurance companies can benefit by reducing transaction costs and errors, increasing agent and employee productivity, and creating a competitive advantage.
Certain statements contained in this press release may be construed as "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. The words "believe," "expect," "hope," "anticipate," "plan," and similar expressions identify forward-looking statements, which speak only as of the date the statement was made. The company does not undertake and specifically disclaims any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. These statements are based on current expectations and assumptions and involve various risks and uncertainties, which could cause the Company's actual results to differ from those expressed in such forward-looking statements. These risks and uncertainties include impact of pending regulatory proceedings, difficulty in predicting the completion of product implementations and consequently the timing of revenue recognition, the inability to attract and retain key employees, reliance on key third-party relationships, management of the Company's growth, and other risks and uncertainties. Further information regarding these and other factors which could cause the Company's actual results to differ materially from any forward-looking statements contained in this press release is contained in the Company's Quarterly Report on Form 10Q for the quarter ended March 31, 2003 on file with the Securities and Exchange Commission. Investors are cautioned not to place undue reliance on such forward-looking statements and there are no assurances that the matters contained in such statements will be achieved.
NOTE: Pegasystems is a registered trademark of Pegasystems Inc. Other product and company names may be trademarks of their respective owners.
Pegasystems (NASDAQ: PEGA) develops strategic applications for marketing, sales, service, and operations. Pega’s applications streamline critical business operations, connect enterprises to their customers seamlessly in real-time across channels, and adapt to meet rapidly changing requirements. Pega’s Global 3000 customers include many of the world’s most sophisticated and successful enterprises. Pega’s applications, available in the cloud or on-premises, are built on its unified Pega 7 platform, which uses visual tools to easily extend and change applications to meet clients’ strategic business needs. Pega’s clients report that Pega gives them the fastest time to value, extremely rapid deployment, efficient re-use, and global scale. For more information, please visit us at www.pega.com.
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The information contained in this press release is not a commitment, promise, or legal obligation to deliver any material, code or functionality. The development, release and timing of any features or functionality described remains at the sole discretion of Pegasystems, Pegasystems specifically disclaims any liability with respect to this information.
Lisa Pintchman Rogers
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