Pegasystems Announces Insurance Industry New Business Solution Framework

LAKE BUENA VISTA, FL – ACORD
LOMA Insurance Systems Forum – May 18, 2009
Pegasystems Inc., (NASDAQ: PEGA), the
leader in Business Process Management (BPM) software solutions, today announced a New Business Backbone as part of
its suite of insurance industry frameworks. 

The
New Business Backbone improves policyholder conversion rates by providing
insurers with a solution that reduces the process cycle time of new policy
submissions. The framework’s robust case management features automate many of
the manual processes in policyholder submissions and increase visibility to the
status across the new business value chain. The new offering reduces
application, quote, and policy issue processing times, increases productivity,
and enables an improved customer and producer experience.

Using
Pegasystems Build for Change® technology, the New Business Backbone
enables insurers to:

·        
Increase operational
effectiveness –
Perform  straight through processing, automate
redundant low complexity submissions, monitor service-level agreements (SLAs)
and business alerts

·        
Improve efficiency
and reduce expenses –
Reduce unnecessary work steps and eliminate manual
handoffs through skills-based routing that assigns work to the right resource
at the right time

·        
Capture distribution
channel loyalty –
Leverage
an “ease of use” business approach by providing intuitive tools that allow
agents and brokers to expedite the processing of new business opportunities

·        
Achieve new levels of
quality –

Identify duplicate submissions,
select appropriate quotes, and initiate bind and issue processes using powerful
search and quote management capabilities

“Pegasystems’
approach to new business processing gives
insurers a powerful tool to control and expedite submissions across front and
back-office support operations,” said Gary Kirkham, Senior Director for
Insurance Industry Solutions at Pegasystems. “The New Business Backbone allows
them to build a support foundation that can be specialized by line of business to
reduce operational expense and drive revenue growth.”

For
more information, please visit the Pegasystems New Business Backbone
for Insurance

Webpage.  Pegasystems will also be
demonstrating the New Business Backbone at Booth #122 at the 2009 ACORD LOMA
Insurance Systems Forum, May 17 – 19, 2009 at the Walt Disney World Dolphin
Resort in Lake Buena Vista, Florida.     

About Pegasystems

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.

All trademarks are the property of their respective owners.

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.

 

Press Kit

 

Media Contacts

Lisa Pintchman Rogers
VP, Corporate Communications
[email protected]
+1 617-866-6022

North America:
Sean Audet
Director, Corporate Communications
[email protected]
+1 617-528-5230

Ilena Ryan
Sr. Manager, Public Relations
[email protected]
+1 617-866-6722

Europe:
Joanna Richardson
Director, Corporate Communications
[email protected]
+44 (0) 118 9651 660

Jon Brigden
PR & Communications Manager
[email protected]
+44 (0) 118 9398 584

Pegasystems Inc.
One Rogers St.
Cambridge, MA 02142
U.S.A.
Phone +1 617-374-9600
Fax +1 617-374-9620