Portellus Expands Customer Base by Offering Its Technology Solutions to the Insurance Industry
Company Brings Proven Technology Solutions to Help Insurance Carriers Transform Operations, Increase Profits
IRVINE, Calif., May 10, 2005 - Portellus, a leading provider of Web-based technology tools and services designed for the financial services industry, today announced that it has expanded its customer base and will respond to increasing demand by launching the Portellus Decision Management solution for the insurance marketplace.
Portellus has created a specific insurance practice group to support the needs of this market and will provide its flexible technology framework to help insurance companies achieve productivity gains and increased efficiencies to help deliver better returns on investment.
Portellus President and CEO John Le said the company's technology solutions are ideally suited for insurance companies because they can quickly transform inefficient business processes into significant competitive advantages.
"The beauty of our core product for insurance companies, the Portellus Business Rules Management System, is the ease with which customers can integrate it with their existing infrastructure or use it to complement newer applications," Le said.
"Our Business Rules Management System has been designed to help companies achieve immediate, profit-building results, from cutting costs and dramatically reducing the time it takes to bring new products to market," Le said. "By streamlining business operations companywide, our technology acts as a centralized rule repository to drive multiple applications."
Le said Portellus currently is in negotiations and expects to announce its first insurance industry client in the coming weeks.
Through "the most compelling technology platform available in today's marketplace," Le said, insurance companies can use Portellus' suite of technology solutions to improve nearly every facet of their operations.
Among them:
- Flexibility - The Portellus enterprise rules management platform can easily be deployed to leverage existing applications, while providing newfound scalability and Web-enabled functionality. Many insurance organizations face inflexible legacy systems; Portellus provides those organizations with the means to compete in today's demanding marketplace.
- Competitiveness - Key advantages of Portellus' technology solutions include the ability to help companies move new products to market in hours - not weeks or months. Le said Portellus' tools "empower companies with an ability to more efficiently manage the business logic behind eligibility, product and pricing, and underwriting, which in turn lets them benefit from a major reduction in operational costs and the time it takes to get a new product in front of their customers."
- Product Management - Using the company's solutions, insurance companies can quickly centralize all creation, administration and management of their entire suite of products.
- Point of Sale - By extending automated eligibility, rating, and underwriting functionality to the point-of-sale, insurance carriers will realize a significant reduction in operational costs. The Portellus platform can extend back-office guidelines and rating criteria through the Web, to serve as an efficient agent interface and point of sale tool.
- Compliance - "The old saying, 'The only constant is change,' has never been truer than it is in the insurance industry," Le said. New regulations and ever-changing market conditions make it critical for companies to balance the need to focus on their business and profits while making sure their processes are rooted in integrity and are compliant with industry regulations and standards. The Portellus Business Rules Management System helps companies govern and automatically execute compliant transactions companywide. The platform helps companies ensure that all transactions are conducted using best practices and compliant standards.
About Portellus
Headquartered in Irvine, Calif., Portellus Inc. is a leader in the application of Service Oriented Architecture (SOA) for the mortgage banking and insurance industries. The company''s Decision Management Solution, Business Rules Management System, Mortgage Solutions Framework, and Rating and Underwriting Engine seamlessly integrate with existing systems to enable clients to gain competitive advantages, reduce costs, increase profitability, mitigate risk and quickly launch new products/pricing to penetrate new markets. For more information, visit
www.portellus.com or call 949-250-9600.
- CONTACT:
- Joe Bowerbank
- Portellus, Inc.
- 949.250.9600, ext. 250
- jbowerbank@portellus.com
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