Fiserv Insurance Solutions, a unit of Fiserv, Inc. (NASDAQ: FISV), today announced that Oklahoma Farmers Union Mutual Insurance of Oklahoma City, Okla., has licensed the Fiserv FastTrack BPM system in addition to the Java-based suite of core processing solutions, including Policy STARÂ®, Claims Workstation and Fiserv Advanced Billing.
Oklahoma Farmers Union Mutual Insurance will rely on the flexibility of Policy STARÂ®, Fiserv Advanced Billing, Claims Workstation and FastTrack BPM to accommodate rapid business expansion with as much detail as needed.
âTechnology decisions position a company as behind, on or ahead of the curve,â said David Robinson, director of information technology of Oklahoma Farmers Union Mutual Insurance. âWe have a successful history with Fiserv Insurance Solutions and knew our choice for integrated core processing technology required working with a progressive company like it.â
âThis suite of solutions supports Oklahoma Farmers Union Mutual Insuranceâs goal to compete effectively,â said Gary Sherne, president of the Property & Casualty business unit at Fiserv Insurance Solutions. âInsurers and industry analysts are increasingly interested in our Web-based systems since they help insurers become easier to work with. That gives an insurer a competitive edge in todayâs market.â
Based on open service-oriented architecture principles, the architecture of the core processing suite is Web-based and platform flexible, providing scalability for property and casualty carriers of all sizes. Written in Java to the J2EE specification, the systems are designed to increase operational flexibility while driving down the cost of operations.