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TENF teams with Trumbull for eBusiness service to insurance companies
SALT LAKE CITY., Oct. 12 /PRNewswire/ -- TenFold Corporation (Nasdaq: TENF - news), an innovative software and services company, today announced that it will deliver an innovative eBusiness homeowner's insurance application to Trumbull Services, LLC, a subsidiary of The Hartford Financial Services Group (NYSE: HIG - news). Trumbull Services is a provider of Business Process Outsourcing (BPO) services and has selected TenFold to deliver a Web-enabled homeowners policy administration application. In addition, Trumbull Services will act as an application service provider (ASP) to provide homeowners policy services over the Internet to financial institutions, managing general agents, and insurance companies in all 50 states.
(Photo: newscom.com )
Trumbull wanted to replace its current mainframe-based system with a completely automated application to process quotations, new policies, and policy changes. The new TenFold homeowner's application will make it easy for Trumbull customers and agents to get quotes, enter new policies, and process renewals and endorsements via a Web browser or the TenFold iClient,(TM) TenFold's ultra-thin client software. The application will be flexible enough to quickly define new insurance products and will be compliant with the requirements of the Insurance Services Office, Inc. (ISO).
''We chose TenFold for their commitment to quality applications and the ability to broaden our product offering to include ASP services,'' said Ellen Wilcox, president of Trumbull Services. ''Insurers of all sizes are looking for ways to expand and enhance their products -- especially in the Internet arena. To remain competitive, they must choose their investments wisely. With the ASP model, we are allowing them to do just that by providing them access to TenFold applications through the Web -- for a modest investment. In addition, we offer a suite of services that support the ASP service, such as a customer care center and quality claim services.''
TenFold will deliver the new homeowner's policy administration application for Trumbull early next year. TenFold offers the TenFold Guarantee to deliver applications on time, on budget, and on target. Trumbull has licensed rights to deliver and customize the application to its service customers.
The two companies have also entered into a joint marketing agreement to co-market TenFold insurance applications and Trumbull insurance services.
''This is a significant partnership for the TenFold Insurance Group,'' said Bernie Mazon, president of the TenFold Insurance Group. ''Trumbull Services represents a new breed of outsourcing companies. We're excited to match our vision and technology with their unique delivery model to provide innovative services to the insurance industry.''
The TenFold Insurance Group delivers innovative P&C, Life and Health insurance applications for policy administration, claims processing, billing, and commissions. TenFold's Web-enabled insurance applications fundamentally change the cost structure for managing lifecycles of policies and claims. PolicyXpressHIG, ClaimsXpress(TM) and BillingXpress(TM) combine the business-specific functionality of custom applications, with the rapid time to market of packaged products. TenFold applications provide economies of scale, rules-driven expert systems, and the flexibility to adapt to changing business needs.
About Trumbull Services
Trumbull Services, a subsidiary of The Hartford, provides a vast array of outsourcing services to insurers, agents, brokers and financial institutions. The company's capabilities include policy issuance, billing and collection, subrogation, claim administration and audit, flood insurance and customer care services. For more information about Trumbull Services Company, visit www.trumbull-services.com.
About TenFold
TenFold is an innovative software and services company that builds and implements large-scale, complex applications rapidly and for a fixed price. TenFold offers the TenFold Guarantee, the industry's first money-back guarantee for large-scale software applications: TenFold delivers applications on time, on budget, and on target -- or will refund a customer's money. TenFold applications support multi-tiered, distributed, and Web-based environments, as well as leading database platforms. Customers include leaders in insurance, investment management, banking and credit, energy and utilities, healthcare, telecommunications, and other industries. For more information, call 800-TENFOLD or visit www.10fold.com.
TenFold, iClient, PolicyXpress, ClaimsXpress and BillingXpress are trademarks of TenFold Corporation.
This release contains forward-looking statements that involve risks and uncertainties that may cause actual future events or results to differ materially from those described in the forward-looking statements. The forward-looking statements in this release address a variety of subjects, including for example, the timing and delivery of new product functionality, new product releases, and future sales to new customers. TenFold disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. The following factors, among others, could cause actual results to differ materially from those contained in the forward-looking statements: risks associated with new product functionality and timing of new product releases, competitive factors, limited operating history, attraction and retention of employees, variability of quarterly operating results, dependence on a small number of customers, fixed-time, fixed-price contracts, and protection of intellectual property. Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained from time to time in documents filed by TenFold Corporation with the Securities and Exchange Commission, including but not limited to, the most recent reports on Form 10-Q and S-1.
SOURCE: TenFold Corporation |
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