SEEC WINS PRESTIGIOUS ACORD AWARD FOR SOA
Service Oriented Architecture Award presented to SEEC at ACORD LOMA 2008
/Finance News Articles/ - LAS VEGAS, NV, May 14, 2008 - SEEC, Inc., the leading provider of Business Component Software for the insurance, healthcare and financial services industries, today announced from the ACORD LOMA 2008 show in Las Vegas, that it was the winner of the prestigious Service Oriented Architecture (SOA) Award from ACORD, the global standards association for the insurance industry. This award recognizes SEEC for its industry leadership and best SOA implementation using the ACORD Standards Framework. SEEC was selected by a panel of industry experts from ACORD, and recognized for delivery of business value and improvements in insurance operating expense ratios through its innovative SOA solutions.
"On behalf of ACORD, I want to congratulate SEEC on receiving a 2008 ACORD Award. I also want to commend them for their ongoing commitment to the implementation of ACORD standards," said John Kellington, Senior Vice President, ACORD.
"We are honored to be recognized as a company providing industry leadership in SOA, and helping insurance carriers to transform their business processes utilizing ACORD and SOA standards", said Shane Tulloch, President and CEO of SEEC. "SEEC's unique library of over 500 pre-built SOA business components provide carriers a rapid way to increase agility and speed-to-market, and save over 50% in cost and time to deliver transformative solutions to their business."
In the global insurance and financial services industry, SEEC now serves:
• 4 of the top 10 life and annuities companies in the US
• 2 of the top 10 property and casualty insurance companies in the US
• 1 of the top 5 health and life insurance companies in India
SEEC's SOA Solutions for Insurance
The Company's flagship library of standards-based, reusable software components (the SEEC Advantage Library) provides a deep selection of ready-built functionality that can be rapidly assembled and customized to deliver SOA solutions with a rich Web 2.0 user experience. Key insurance solutions delivered using SEEC components include:
• 360-degree view of customers and households
• Agent and customer service portals
• Insurance self-service solutions
• Common order entry and new business for life, annuities, auto and home
• Agent/producer Management
• Claims Management
SEEC components form a shared-Services layer above legacy applications based on industry-standard semantics, providing a uniform way to access information and perform transactions across otherwise disconnected IT silo's. Unlike traditional applications, SEEC components leverage the legacy data and back-end functionality already in place, enabling customers to re-use proven systems without a high-risk replacement decision, and liberate the business from struggling with silo'ed applications. SEEC components are built to industry-standards (J2EE, ACORD, Web Services), and licensed with the source code, avoiding the risk of proprietary lock-in, forced upgrades and obsolescence. To obtain a copy of the most recent SEEC Business Component Software catalog, contact SEEC at 1.800.682.SEEC (7332) or complete a request at www.seec.com
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Stephanie Bavaro
SEEC, Inc.
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