Xenos and IBM Add Comprehensive E-commerce Dimension to Lincoln National Life Insurance Co.
America's third largest variable annuity company now enables brokers to view and respond to client statements right from the desktop
DALLAS and TORONTO--(BUSINESS WIRE)--Nov. 2, 1999-- Xenos Group (TSE: XNS - news), a leader in software for online statement and bill presentment, and IBM®, makers of IBM EDMSuite OnDemand, a powerful client/server COLD (Computer Output to Laser Disk) and Enterprise Report Management solution, today announced that together they will provide the technology enabling annuity agents and brokers at Lincoln National Life Insurance Co. to do business over the Internet.
Lincoln Life's Online Statements Project
Situation: Every quarter, Lincoln Life would print two copies of its 1.3 million quarterly client statements for distribution via snail mail. The company would send one set of the statements to its brokers and the other set to its clients.
Solution: Under Lincoln Life's Online Statements Project, the company will combine IBM's EDMSuite OnDemand, which allows instant and reliable retrieval of archived e-documents, and Xenos' transformation technology, which enables the conversion of all paper-based documents into electronic form for presentment over the Internet. As a result, Lincoln Life will be able to distribute client statements electronically to its annuity agents and brokers.
''This project enables Lincoln Life to dramatically improve customer service by giving brokers immediate access to their clients' statements, affording them the opportunity to respond to client inquiries immediately and effectively,'' said Duc Hau, Project Leader for Lincoln Life's Online Statements project. ''And by tapping into the combined technologies of IBM and Xenos Group, Lincoln Life will experience a tremendous reduction in paper, printing and distribution costs now and into the future.''
Lincoln Life's Online Statements Project represents one of more than 10 projects for which IBM and Xenos have partnered to implement comprehensive e-commerce solutions.
''Xenos is delighted to be co-selected as the vendor of choice along with IBM to implement a complete e-business solution for Lincoln Life,'' said Martin Heenan, President of Xenos Group. ''This is the first in a series of announcements concerning key accounts on which IBM and Xenos will team to provide leading e-commerce technologies. This type of ongoing partnership affirms Xenos' position as a leader in software for online bills and statements.''
About Xenos Group
Based in Dallas and Toronto, Xenos Group (TSE: XNS; www.xenos.com) is a leader in software for online statements and bills. Using the world's most advanced transformation technology, the company gives customers the ability to convert any high-volume printed paper documents to any electronic format on any platform. Customers such as Bear Stearns, Bank of New York, Merrill Lynch, Manulife Financial, Bell Canada and the Canada Post Electronic Post Office use Xenos Group software to transform and distribute more than a billion document pages every year.
Xenos Group's Documorph(TM) software lets companies rapidly implement e-statements and Internet bill presentment, enabling the benefits of cost savings, cross-selling opportunities and closer customer relationships.
About IBM EDMSuite
IBM EDMSuite is enterprise document management for e-documents spread across and beyond the enterprise. IBM EDMSuite provides networked and integrated document management so businesses can stop handling paper and start using the best information technology for their e-business. IBM EDMSuite includes: ImagePlus for production imaging and workflow; OnDemand for archiving, presenting and mining computer reports; ContentConnect for unified search capabilities from a familiar Web browser; MQSeries Workflow (formerly named FlowMark) for advanced workflow and enterprise process management; Lotus Domino.Doc for ''out of the box'' distributed document management. You can find more information at ibm.com.
About Lincoln National Life Insurance Co.
Lincoln National Life Insurance Co. (Lincoln Life) is the lead insurance arm of Lincoln National Corp. It is affiliated with First Penn-Pacific Life Insurance Company, Lincoln Life & Annuity Company of New York, and Lincoln Financial Advisors Corporation.
Lincoln Life is comprised of two business segments: life insurance and annuities. The company's headquarters are located in Fort Wayne, Ind., with significant operations in Hartford, Conn. Lincoln Life and its affiliates sell fixed annuities, variable annuities and a wide variety of pension products and life insurance products. Nearly two million people use the company's annuities to help build retirement security. Lincoln Life is the third largest variable annuity company in the United States as measured by assets |
