At a glittering ceremony during the annual ACORD LOMA Insurance Systems Forum 2010 recently held in Las Vegas, the two awards were received by Arun Jain, Chairman & CEO of Polaris Software.
The Early Adopter - XML Transactions Award was given in recognition to the standards implemented at a Global Life & Annuity carrier that leveraged SEECâs form instance update component. The second award, for being the Most Compelling Case Study recognized two Intellect SEEC implementations, (1) Agile solution for automated claims processing for a large US Annuity carrier and (2) An end to end implementation of insurance solution for new business, policy management, billing and claims for a start up mortgage insurance company.
These awards establish Polarisâ superior capability to create a customer centric insurance model that allows for rapid assembly of solutions that lets insurance companies to adapt quickly to new business requirements, product introductions and support new sales channels.
Speaking on the occasion Arun Jain, Chairman & CEO of Polaris Software Lab Ltd said, âWe are honored to be recognized by ACORD for the continued implementation of its standards by Intellect SEEC at several insurance carriers. The effective utilization of these standards have provided improved business process efficiency resulting in accelerated delivery of products and policies, reduced claims processing time, improved staff productivity and lower operational cost to customers. The awards reflect our strong relationship with ACORD, our deep knowledge of their standards and ACORDâs trust in Polaris to consistently deliver the highest quality of service to the end customers.â
"I congratulate Intellect SEEC on winning two 2010 ACORD Awards. They should be applauded for their leadership. Intellect SEEC continues to show how vital ACORD data standards are for our industry,â said Lloyd Chumbley, Vice President, Standards, ACORD.
âThese awards are not only a recognition of our efforts, but evidence of our long-standing partnership with ACORD. Our decision to leverage ACORD standards in our business components and insurance solutions is validated by these awards, and I believe that our customers are realizing real business benefits and quick return on investment for their efforts in adopting the standards,â said Ravi Koka, President & COO, Intellect SEEC Inc.