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Unirisx and IDP Form Strategic Alliance To Create Unirisx Integrated Solution -- Combined Technology Featuring Policy Administration with Billing, Claims and Bureau Reporting Components

Two IDP Clients Commit to New Solution

By: Stuart Ferrell
Date: 11/24/2009 12:52:03 PM

RADNOR and WYNCOTE, Pa. - November 23, 2009 — Unirisx LLC., the leading global software-as-a-service (SaaS) provider of insurance services, and IDP Inc., a leading provider of property and casualty software and services, today announced a strategic alliance creating an integrated web-based insurance processing solution that has already secured two clients. The new platform, Unirisx Integrated Solution, features Unirisx Policy Administration Solution and IDP’s billing, claims and bureau reporting components.

The two companies also announced that Security Mutual Insurance Co., the Ithaca, NY based property and casualty insurer, and Armed Forces Insurance Exchange, the Leavenworth, KS based property and casualty insurer for military personnel and Department of Defense employees, have signed contracts to deploy the Unirisx Integrated Solution. It is now available to clients in North America and other English-speaking countries.

The alliance with IDP is consistent with the Unirisx vision to be the insurance industry’s leading provider of cost effective, web-based solutions delivering maximum configurability and speed to market. With the addition of IDP components, Unirisx will expand their ability to provide clients with lower cost components, real time risk management and business rules that are controlled by the user.

“The strategic alliance with IDP enhances the Unirisx core policy processing system, expanding our ability to offer a full service web-based solution to clients and prospects.” said David Hollander, chief executive officer of Unirisx. “The two IDP clients to come on-board are a strong endorsement of our joint strategy and the demand for a solution that addresses full lifecycle processing.”

“IDP is pleased to make the Unirisx Integrated Solution available to our clients -- helping to lower their operating costs, speed interaction with the market, and increase their ability to customize the solution to fit their clients’ needs,” said Timothy R. Myers, chief executive officer of IDP. “After months of intense joint analysis and integration, it’s all about serving our customers better and helping them to service their customers better.”

For Security Mutual, the new solution will improve its ability to get insurance products to agents and producers. “Part of our strategy to stay competitive is to respond as quickly as possible to new market changes and distribution channels,” said Tom Ruane, president and general manager of Security Mutual. “Basically we are adopting an available, ready-made solution that would otherwise take years to develop and implement.”

AFI selected the Unirisx Integrated Solution as a tool to market directly to consumers. “We have six lines of business in 50 states, so a comprehensive capability to quickly introduce new product lines helps us serve our customers better,” said Drew Mazeitis, chief information officer of AFI.

About UniRisx
Unirisx Policy Administration Solution is the leading SaaS (software-as-a-service) platform to launch, distribute, manage and process insurance and healthcare products. The web-based, on-demand solution enables insurers, agents, brokers and other users to rapidly launch new products, create broader distribution networks and manage the full policy lifecycle in real time. The Unirisx policy management components deliver full straight through processing, eliminating errors from manual processes and reducing costs. In most cases, Unirisx is implemented in 45 to 60 days. Unirisx delivers premium growth, cost savings of 30-50 percent, improved risk management, and efficient control and management across multiple distribution channels. The platform requires no software to install or hardware to buy, dramatically reducing upfront and maintenance costs. Unirisx is fully configurable and customizable for any language, currency and insurance product. Unirisx services more than 50 lines of business with 25 currencies in 19 countries on 5 continents as of November 2009. Unirisx is offered by Unirisx LLC, a privately held company based in Radnor, Pa., with offices in Hong Kong and Reading, England. For more information, please visit www.unirisx.com

About IDP
A Tradition of Leadership. A Future of Innovation.
Founded in 1949, IDP helps property and casualty insurance companies operate more efficiently and profitably. Our affordable, easy-to-use software solutions help property and casualty companies turn raw information into valuable insights. They streamline key processes such as policy, billing, claims, underwriting and reinsurance. They enhance service to customers and agents. They make regulatory reporting faster and more accurate. Each solution is backed by a team of industry specialists who are committed to the highest levels of customer care. And each is supported by ongoing innovation that leverages the latest technologies - including today's flexible Web-based platforms. For providers who want to stay one step ahead of a rapidly-changing industry, the best insurance is IDP.