NEW ADVISEN PLATFORM INCORPORATES COMPREHENSIVE PROFESSIONAL DIRECTORY AND SIGNIFICANT CASE & ACTION DATABASES, INTERACTIVE STOCK CHART FUNCTIONALITY
Advisen 5.0 Improves User Experience with Faster Interface; Additional Features and Functionality Extend Capabilities and Performance of Commercial Insurance Professionals
New York, Sept. 12, 2006 – Advisen Ltd., the leading provider of analytics, benchmarking and market information to the global commercial insurance industry, today released Advisen 5.0, a new version of its information and analytics platform for buyers, brokers and sellers of commercial insurance policies. All current Advisen clients will access version 5.0 automatically, without additional charge.
Advisen has redefined the way key market participants leverage technology to interact and communicate in the commercial insurance industry. Representing the next generation of the company’s strategic information and technology platform, Advisen 5.0 provides insurance professionals the ability to make more informed risk decisions, more efficiently manage insurance programs, and gain deeper insight into changing market conditions.
“It continues to be our mission to collaborate with professionals in the commercial insurance industry – brokers, risk managers and underwriters – to create a single platform with the most comprehensive set of information and analytics available,” said Tom Ruggieri, CEO of Advisen. “Advisen 5.0 not only continues that legacy, but introduces a new standard of usability and efficiency that is driven from within the industry by commercial insurance leaders.”
Advisen 5.0 introduces three new components never before available:
People (Beta) Module: New within the Advisen platform, Advisen People is a searchable, proprietary database of one million corporate officers, directors and executives, including key insurance professionals. Search for any person, including an underwriter or broker, by name or profession. Advisen now links Professional Summaries and Web References to each person.
Interactive Stock Chart: An interactive stock chart allows users to chart up to five entities – either individual stocks or indices – simultaneously. The chart allows users to click on any point in the chart to determine underlying significant developments including large losses and litigation information for a primary stock. Specific date pricing is available by simply tracing a mouse over the stock trend line.
MSCAd Database Access: Now integrating Advisen’s acclaimed Master Significant Case & Action database (MSCAd), this new feature offers interactivity with more than 4000 settlements, losses and actions in excess of $5 million for Management Liability, Professional Liability, Marine, Excess Casualty, Products Liability and Property.
Other enhanced features of Advisen 5.0 include:
Template Redesign: The programming infrastructure behind the Advisen templates has been redesigned providing major improvements in speed and stability, specifically around page loading, editing and saving functions. Designed to reduce the time required for brokers to create submissions and underwriters to perform in-depth risk analysis, the streamlined templates further enhance the value of this system for users requiring a fully transparent view into a client’s exposures. With the new infrastructure in place, clients will begin to receive these enhanced offerings directly through the platform during the fourth quarter of this year.
Med Mal Claims Benchmarking Expansion: The Med Mal claims benchmarking functionality has been greatly expanded and enables any hospital, broker or underwriter involved with Hospital Professional Liability to analyze their proprietary data with Advisen’s market-leading tools. Key functionality enhancements include the ability to search for, and benchmark against, claims by department and by cause.
Cost of Risk and Exposure Benchmarking Enhancements: Now, within every data entry page, users are given the ability to view and input data for three years for Exposures, Retained Loss and Administrative Expenses, as well as graph three-year trends in Exposure and Total Cost of Risk Benchmarking. Benchmarking against peer groups has expanded with the ability to compare each company’s fiscal year against a different peer group year. Also available is the ability to view a three-year Program Benchmarking trend by selecting multiple time periods and graphing up to three different programs against any year in the program peer group tab. In addition, the enhanced benchmarking capabilities offer an audit trail that displays which user, as well as what field, and when, each item was updated.
Advisen 5.0 is now available. For all sales inquiries, please call 212.897.4800.
About Advisen
Advisen Ltd. provides carriers, brokers, risk managers and other insurance professionals with an integrated analytics and information platform for insight to make key commercial insurance and risk management decisions. Advisen’s over 400 clients access the on-demand, web-based service for research on 435,000 program transactions representing 75,000 companies, 180,000 claims, 80 industries and 1.7 million companies and organizations. Advisen member firms gain higher value on the above information through analytic functions such as: benchmarking, work-up and submission templates, insurance program management, policy & law comparisons, loss & exposure analysis, corporate governance, financial metrics, news and significant case data. Over 40,000 insurance professionals use Advisen every day. Visit www.advisen.com or call 212.897.4800.