Adeptia releases insurance industry solution based on business process management technology

Chicago, IL – January 18, 2005 – Adeptia Inc., an innovative provider of business process management (BPM) technologies, announced today the release of book of business, agency-carrier interface and claims management solutions for the insurance industry. Adeptia solutions cater to diverse business needs of carriers, brokers, reinsurers as well as their customers. Adeptia solutions offer a complete and cost-effective approach by combining essential elements of workflow, information management, collaboration tools and insurance industry standards.

With the deployment of these insurance solutions, customers can automate insurance brokerage, reinsurance book of business transfer, insurance underwriting and claims processing. Adeptia automates all crucial transactions—from form submission to policy and endorsement issuance, and from first notice of loss to claims payment. Thus, Adeptia insurance helps enhance agent/broker relationships, improves underwriting quality, and reduces claims processing time as well as cost per claim.

“Business process management or BPM is the ideal solution to optimize business processes, reduce costs and enhance profitability. By creating an insurance version, we have aligned it with the business needs of the insurance industry. Adeptia BPM for Insurance magnifies the benefits of BPM for the insurance industry and delivers more measurable business value to agents, carriers and reinsurers.” – said Lou Ennuso, CEO of Adeptia.

The benefits of Adeptia insurance solutions are:

• Adeptia Book of Business transfer solution helps deploy portfolio 75% faster than any custom coded solution.
• The Agency-Carrier Interface solution increases revenues by 10% or more per agency.
• The Claims Management solution helps reduce cost of managing automation of claims process by 30% to 50%.

“To fully utilize the potential of BPM technology for the insurance industry, Adeptia has combined it with industry-standards and tailored it to suit the insurance business life cycle. Adeptia BPM for Insurance is an effective and rapid solution that helps businesses perform better by leveraging their existing IT infrastructure.” - said Deepak Singh, CTO of Adeptia.

Adeptia’s process oriented insurance solution combines its leading BPM technology with packaged industry oriented application to efficiently meet the needs of the insurance industry and considerably increase the expected benefits. Adeptia’s BPM for Insurance solution has the flexibility to address evolving and changing needs of its customers.

Adeptia is an enterprise software company headquartered in Chicago, Illinois, that provides business process integration technology to easily and quickly automate business processes across supply chains using industry-specific standards. Adeptia’s unique product combines business process management with business-to-business integration. Adeptia’s reusable and highly scalable technology has been deployed by Fortune 1000 companies.www.adeptia.com

Shirley Klein
Adeptia Inc
312-229-1727 x 111
marketing@adeptia.com