INSTEC/Mayfare Software news release

FIRST NONPROFIT INSURANCE IMPLEMENTS THIRD LINE OF BUSINESS, WORKERS’ COMPENSATION, ON INSTEC/MAYFARE CL1X SOLUTION

Best of both worlds: CL1X provides First Nonprofit seamless integration between proven best-of-breed solutions from INSTEC and Mayfare Software. CL1X solution enables First Nonprofit’s continued 20% annual growth, better service, and improved claims handling.

Naperville, IL, November 10, 2003: Commercial P&C insurance software providers, INSTEC and Mayfare Software Solutions, announce that Chicago based, First Nonprofit Insurance Company has implemented CL1X for their third line of business, Workers’ Compensation. First Nonprofit Insurance was already in CL1X production for their Package and Commercial Auto product lines. Announced at this year’s Annual ACORD Conference, CL1X is a jointly developed product from INSTEC and Mayfare Software, offering a comprehensive out-of-the box solution for enterprise-wide, end-to-end commercial lines processing for 50 states.

The First Nonprofit CL1X implementation provides the best of both worlds by delivering seamless integration between the INSTEC QuickSolver® policy processing "front office" system and the Mayfare IS4W "back office" system. The marriage of the two systems, via CL1X, offers First Nonprofit users the ability to access information and functionality whenever and wherever needed without concern for which system is being accessed. In addition to the ‘ease of use’, CL1X eliminates the need for redundant data synchronization typically required with separate and isolated systems. The underlying policy data is synchronized in real-time, ensuring that a front-end process transaction is immediately available for billing, claims handling, statistical and management reporting, reinsurance processing, etc.

According to First Nonprofit’s Underwriting Manager, Chris Finkley, "First Nonprofit Insurance has been a long time user of both INSTEC and Mayfare products, although prior to CL1X we struggled with constantly re-keying the same information, over and over, using multiple programs to rate, book and issue policies. With CL1X we have a product that lets us enter information one time, completing both the front office and back office processes, seamlessly, with no additional user intervention."

Mr. Finkley continued, "The CL1X solution will help us to continue to deliver on the First Nonprofit goal of 20% annual growth without a significant increase in staff or costs. We also feel that we are better able to service our clients, since we no longer have to worry about redundant data entry and the resulting potential for human error. The whole process is improved, from underwriting to claims handling. It’s a pleasure to see two software vendors working together with a common focus on the good of the client. The INSTEC/Mayfare relationship is a breath of fresh air and should be the model for all software suppliers in the industry."

Randy Schuldt, INSTEC Alliances Manager, added, "We appreciate First Nonprofit’s decision to implement the CL1X solution. They’ve been a long-time INSTEC client and the experience and input we’ve acquired through the implementation has been invaluable to our CL1X development effort. We believe that a truly cooperative effort between vendors is the future of the software industry. When all parties are sincerely focused on delivering a complete solution to enable the client’s business, there is no better recipe for the success of all involved."

"We are pleased that our close partnership has enabled us to jointly deliver a seamless and fully integrated solution to First Nonprofit that has real value in supporting their business goals," said Martin Lippiett, Executive Vice President of Mayfare Software. "It is very satisfying to know that we have made a real difference in helping to foster the success of a valued customer such as First Nonprofit."

About CL1X
- Available for major commercial lines and policy transactions in 50 states, with ongoing support of bureau and company-specific rates, rules and forms
- Quick and easy addition of new states as insurer’s business market expands
- Efficient system administration through shared use of reference tables by the INSTEC QuickSolver and Mayfare IS4W products
- Complete transaction integration ensuring availability of INSTEC’s QuickSolver data to IS4W. Enables prompt billing, inclusion on reports, and all "back-end" functions
-Elimination of duplicate data entry, saving cost while eliminating human processing errors
- Reduced dependency on hardcopy files through the availability of coverage data and print images of policy forms from the IS4W Claims Management subsystem
- IS4W’s claim data now available for determination of experience-rating factors with QuickSolver

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