CodeObjects BillingEnterprise helps property and casualty (P&C) insurers optimize multichannel customer interactions, drive operational efficiency, and improve carrier bottom line.

Milpitas, CA,  September 15, 2009 – CodeObjects today announces the general availability of CodeObjects Billing Enterprise – the industry’s first multichannel-enabled billing system designed to support all interactions across employees, customers, and partner networks within the property and casualty (P&C) insurance industry.

Currently, the billing processes in the P&C insurance industry are characterized by labor-intensive exception processing and the use of outdated and inflexible legacy technologies, resulting in high operating expenses, inability to respond to market changes, and lost policyholders and damaged producer loyalty. CodeObjects Billing Enterprise helps carriers overcome these hurdles by providing a full-featured, channel-optimized, billing solution designed to enhance operational efficiency, deliver superior customer experiences, and improve carrier bottom line.

Highlights of CodeObjects Billing Enterprise include:

• Flexibility for configuring bill plans, collections, and delinquency activities to meet both agent and customer requirements
• Automated billing lifecycle from billing invoices to payment collection through renewals
• User workstation for handling customer inquiries and exception processing
• Detailed account history of billing, policy, and claim information within a single consolidated screen for superior customer service
• Support for multiple payment methods including cash, credit card, lockbox, and EFT
• Ability to accept full or partial payments, cash in advance, cash with an application and unidentified cash
• Automated generation and assignment of work items for exception process handling
• Prebuilt interfaces for integrating with external payment services such as EBPP, EFT, credit card, and lockbox
• Designed to integrate with accounting and general ledger systems
• Support for online bill inquiry and customer payments through fully integrated out-of-the-box policyholder portal

CodeObjects Billing Enterprise shares the same platform as CodeObjects Policy Enterprise. It can be purchased as a standalone solution and integrated with proprietary systems and third-party applications or can be implemented along with other CodeObjects solutions.

Anil Annadata, Chief Executive Officer, CodeObjects stated, "As carriers within the P&C insurance industry strive to respond to rising customer expectations, they are continuously looking for ways to better run their business, retain their customers, and improve their profitability. CodeObjects Billing Enterprise enables insurers to deliver superior customer experience by optimizing interactions between their employees and customers and partner networks across all communication channels. Customers can also take advantage of the openness, flexibility, performance, and interoperability provided by our SOA-based architecture to achieve far greater business agility while future-proofing their technology investment.”

CodeObjects Billing Enterprise is built on the same next-generation enterprise platform that enables rapid development of service-oriented enterprise applications using open standards and non-proprietary technologies. CodeObjects Billing Enterprise is SOA-based, allowing all insurance business processes to be invoked as services, including those locked in legacy systems. The flexibility of this high-performance SOA-based billing solution allows insurers to more effectively respond to market changes, improve integration across all internal and external systems, and minimize total cost of technology investment.

“CodeObjects is a key enabler of our business transformation,” said Eric Gleason, Vice President and Chief Information Officer, First American Home Buyers. “By l everaging their solutions, we are now able to manage our operations on a single, flexible, scalable, and extensible platform that supports both billing and policy administration. This has allowed us to streamline our business processes, better adapt to changes in market conditions, and dramatically enhance our customer service.” First American Home Buyers, is using CodeObjects Billing Enterprise in conjunction with CodeObjects Policy Enterprise to manage its end-to-end insurance business processes.

About CodeObjects

CodeObjects is a leading provider of adaptable insurance software applications. CodeObjects is dedicated to helping insurance companies drive business efficiency, adapt to market change, and increase profitability and growth through its next-generation, best-practice enterprise software applications. Its innovative, adaptive, and open architecture future-proofs enterprises’ investments in technology and infrastructure, thereby helping them grow their businesses and transform into agile and customer-centric organizations. (For more information, visit www.codeobjects.com.

For customers interested in learning more about CodeObjects products or for more information regarding this press release:
Michael Kolar
(248) 534-8480
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CodeObjects Policy Enterprise helps property and casualty (P&C) insurers improve underwriting accuracy and efficiency, increase premium revenues, and respond rapidly to business opportunities

Milpitas, CA, April 28, 2009 – The current economic downturn, combined with an increasingly complex and constantly changing business and regulatory environment, has left the insurance businesses more vulnerable than ever to business failures. Meanwhile, challenges around siloed communication channels, disparate systems, and inflexible legacy technologies have resulted in disjointed business processes fraught with operational redundancies and errors, missed business opportunities, and decreased customer and producer loyalty. “Insurers that fail to address their aging policy administration systems will not be able to rapidly adapt to business changes or build and deliver products and services quickly, accurately, and cost-effectively,” stated Kimberly Harris-Ferrante, Vice President and distinguished analyst in Gartner Research. CodeObjects today announced the general availability of CodeObjects Policy Enterprise, a next-generation, fully-featured, channel-optimized policy administration solution designed to help policy and casualty (P&C) businesses drive long-term, profitable growth.

"CodeObjects Policy Enterprise is a result of extensive collaboration with some of the largest insurance companies in the world and represents an incredible step forward from current P&C solutions in the marketplace,” said Anil Annadata, Chief Executive Officer, CodeObjects. Acting as a complete system-of-record throughout the entire underwriting and policy administration process, CodeObjects Policy Enterprise enables insurance businesses to operate their organizations more efficiently through consistent business processes and shortened cycle times Featuring automated underwriting rules, channel-optimized user interfaces, and pre-defined workflows CodeObjects Policy Enterprise improves productivity and enhances risk selection while delivering superior customer experiences.

"In the last few years, insurance companies having been facing more pressure than ever to improve their profitability due to global financial crisis, relentless pressure for regulatory compliance, and increasing litigation costs. At the same time, customer satisfaction and producer loyalty continue to erode as insurers are hampered by monolithic and redundant back-end systems as well as inefficient underwriting processes. That’s why P&C carriers are investing in modern systems that improve their ability to adapt to changing market dynamics and meet evolving customer needs,” said Jeff Goldberg, Senior Analyst, Insurance, Celent. “The CodeObjects software is a new entry to the policy administration market that provides a highly flexible and extensible technology platform for insurers. It represents the current trend away from systems requiring heavy vendor customization to modern, ultra-configurable solutions that provide an easier integration of business processes across multiple core components.”

At the core of CodeObjects Policy Enterprise is its next-generation enterprise platform that enables rapid development of service-oriented enterprise applications using open standards and non-proprietary technologies. CodeObjects Policy Enterprise is SOA-based which allows insurance business processes to be invoked as services, including those locked in legacy systems. SOA enables agility in responding to market conditions and competitive offerings, interoperability between application components on different platforms, integration of information across all internal and external systems, thereby future-proofing companies’ investment in technology and applications.

“CodeObjects is a key enabler of our change strategy,” said Eric Gleason, CIO, First American Home Buyers Protection. “Their model-driven product development approach and highly scalable, extensible, open standards-based platform have helped us transform our entire business and given us greater ability to adapt to future changes.”

With CodeObjects Policy Enterprise, P&C carriers will be able to improve their bottom line
through:

• Improved accuracy and efficiency of underwriting and processing staff
• Increased “ease of doing business” for all distribution channels
• Superior risk selection and true “insure to value”
• Enhanced financial visibility
• Better customer retention
• Lower training costs due to intuitive and easy to learn user interface
• Shortened cycle times in policy issuance
• Accelerated speed to market with product introductions and product changes
• Seamless migration to future technology
• Reduced implementation and maintenance expenses

"Improving financial performance and rapidly adapting to changing business environment has become a top challenge for insurance companies worldwide. They must transform their approach and adopt solutions that can help them enhance the accuracy and efficiency of sales, underwriting, and processing staff while providing them with the flexibility and agility they need to stay competitive,” commented Annadata. "With our 100 years of combined experience in building and implementing enterprise-class solutions, CodeObjects is uniquely positioned to help P&C carriers achieve that transformation. By extending our leadership in addressing the complex challenges that insurance businesses face, we will help them improve profitability, deliver superior customer service, and capitalize on new opportunities.”

About CodeObjects

CodeObjects is a leading provider of adaptable insurance software applications. Founded in 2006, CodeObjects is dedicated to helping insurance companies drive business efficiency, adapt to market change, and increase profitability and growth through its next-generation, best-practice enterprise software applications. Its innovative, adaptive, and open architecture future-proofs enterprises’ investments in technology and infrastructure, thereby helping them grow their
businesses and transform into agile and customer-centric organizations. For more information, please visit www.codeobjects.com.

Press Contact:
Michael Kolar
Vice President of Product Marketing
(248) 534-8480
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