COLUMBIA, S.C., Feb. 11 /PRNewswire/ -- Policy Management Systems Corporation (NYSE: PMS) (PMSC) announced today that its PMSCiSolutions(TM) suite, a new generation of Internet-based solutions for the insurance and financial services industries, became generally available in December, 1998. PMSCiSolutions uses Microsoft(R) Internet technologies to securely extend the reach of PMSC's enterprise systems to new audiences such as agents, third parties and consumers. The product provides interfaces and workflows appropriate for non-traditional users who wish to leverage information and processes in existing enterprise systems. These capabilities will allow insurance companies to provide better customer service at lower costs.
The initial release of PMSCiSolutions provides extensive inquiry capabilities, making volumes of information available at the user's fingertips. Information regarding policies, billing and claims can be located and viewed via a browser from anywhere in the world at any time, day or night. In addition, this release provides the capabilities for agents to submit a Claims Notice of Loss form via the Internet, intranet, or extranet.
PMSCiSolutions provides security and functionality features that will allow system administrators to personalize their web sites quickly and easily. PMSCiSolutions allows each company to determine the type and amount of information available to each audience. In addition, numerous wizards help the system administrator quickly and easily customize the site's interface. PMSCiSolutions Release 1.0 provides integration with PMSC's Series II(TM) enterprise system. Future releases will integrate with PMSC's other enterprise systems including S3+(TM), Point+(TM), Series III(TM) and POINT(TM).
"PMSCiSolutions is the first step in beginning to change the way insurance companies do business," said Rick Field, general manager of PMSC's Property & Casualty eCommerce Division. "This will redefine the relationship between agents and companies and will provide better service to their customers while reducing expenses." According to Field, several releases of PMSCiSolutions are anticipated for market in 1999.
PMSC, headquartered in Columbia, S.C., is the leader in providing enterprise and electronic commerce application software, professional services, and outsourcing designed to meet the needs of the global insurance and related financial services industries. Information on PMSC and its products and services can be found on the World Wide Web at http://www.pmsc.com.
The Private Securities Litigation Reform Act of 1995 provided a "safe harbor" for certain forward-looking statements. The forward-looking statements contained in this release are subject to certain risks and uncertainties. Actual results could differ materially from current expectations. Among the factors which could affect the company's actual results and could cause results to differ from those contained in the forward-looking statements contained herein are customer acceptance of the company's new products and services, the success of the company's market penetration efforts and timing of customers' decisions to enter into agreements for the company's products and services.
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