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Media Contact: Paul Macchia Fusion Public Relations +1 212.651.4216 paul.macchia@fusionpr.com Corporate Contact: Mark Allen Corticon Technologies, Inc. +1 650.212.2424, ext. 211 mark@corticon.com |
Precedent Insurance Company Selects Corticon Business Rules Management for Innovative Health Insurance Solution
Corticon Chosen to Help Drive Business Agility and Lower Operational Costs
Redwood City, Calif. - June 13, 2007 - Corticon® Technologies, the leader in model-driven Business Rules Management software, announced that the Corticon Business Rules Management System has been selected by Precedent Insurance Company as a critical component in the development and management of Precedent's revolutionary direct-to-consumer healthcare insurance solution.
Precedent Insurance Company is a subsidiary of the American Community Mutual Insurance Company. Precedent plans to deliver a suite of health insurance solutions called REMIX, which include "Coverage on Demand" plans that charge the insured for only the health insurance coverage they need. To achieve the vision for REMIX, Precedent is changing the way that insurance underwriting is performed by automating far more of the underwriting process and moving the definition of underwriting and customer acquisition business logic to their business analysts through the use of a business rules management system
After a full evaluation of the market leading business rules vendors, Corticon was selected because of Corticon's model-driven approach to business rules management. Precedent's vision includes reducing manual effort associated with risk evaluation and underwriting to less than 10% of applications and cutting customer acquisitions costs in half, while providing more personalized polices and faster approval for its customers.
"To achieve our business vision, we needed to break a few common rules for our industry," said Don Ames, CTO, Precedent Insurance. "Precedent is revolutionizing the insurance industry with a new strategy for customer acquisition and underwriting. Using Corticon as a central element in our strategy we have already begun the transition of the development of underwriting rules to our business staff. An additional benefit to Corticon's model-driven approach is that all the business rules are understandable by a wide-range of our business users, providing us a level of transparency in our business logic that we would not have been able to achieve through other solutions."
Corticon's Business Rules Management System is an integrated solution designed to help organizations manage the entire lifecycle of business rules development and automation. Corticon is unique in its model-driven approach to business rules development. Corticon allows organizations to model the logic of their decisions in an Excel-like user interface. Any logic that can be created in a programming environment, such as Java, can be modeled in the Corticon Business Rules Modeling Studio at a significantly lower cost. Corticon's Business Rules Management System allows organizations to externalize their critical business decisions and rules from their applications. The result makes business logic easier to create and change, easier to manage across distributed teams and enables reuse across diverse applications and data-sources.
About Corticon
Technologies, Inc. Corticon's Business Rules Management System
gives companies the ability to model and automate recurring decisions
within their enterprise systems. Many of the world's most successful
organizations rely on Corticon-powered solutions to drive IT efficiencies
and operational excellence through decision automation. Consistently
recognized as a leading rules vendor by industry analysts and thought
leaders, Corticon's patented BRMS is the only solution with a model-driven
design environment that guarantees the consistent, efficient and
reliable execution of a company's business rules and policies. Corticon
is a privately held company headquartered in Redwood Shores, CA,
with worldwide distribution through an extensive partner network.
Corticon's products are in use today at many of the world's largest
banks, insurance carriers, media companies, telecom providers and
government organizations, collectively automating millions of decisions
per day. Corticon can be reached at www.corticon.com
or at +1-650-212-2424
