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Monday
May 19, 2003
Press Release
The Hartford Launches Agent Suite of Transactions Using
XDimensional Technologies’ Agency Management System
HARTFORD, Conn., May 19, 2003 -- The Hartford Financial
Services Group (NYSE: HIG) has introduced a suite of
transactions for independent agents who use XDimensional
Technologies’ (XDTI) Nexsure agency management system,
further increasing agents’ ease of doing business and
streamlining workflow for both personal lines and small
and mid-size commercial transactions.
For commercial insurance, The Hartford, demonstrating its
usual technology leadership, is the first carrier to offer
agents real-time quote and issue capabilities for workers’
compensation. It can also accept auto, workers’
compensation and property schedules for mid-sized
businesses.
The insurer is also certified for personal lines download
with Nexsure, and will soon be offering personal lines
real-time rating service to Hartford agents using Nexsure
1.0, XDTI’s newest agency management system.
“Independent agents want the flexibility to choose how
they want to work, so we continue to introduce ways to
make it easy for them to do business directly from their
agency management system. It’s part of The Hartford’s
commitment to help agents deliver the highest quality of
service to their customers,” said Lisa Cox, senior vice
president, eBusiness Technology Solutions at The Hartford.
Commercial Lines Real-Time Quote and Issue for Workers’
Compensation
Commercial lines real-time quote and issue for workers’
compensation is now an option available to Nexsure system
users and takes advantage of ACORD XML standards to send
data to The Hartford in real-time. Agents are provided an
accurate quote within a matter of seconds and can then
request issue of the policy at the touch of a button.
Conversion of Auto, Workers’ Comp. & Property Schedules
for Mid-Sized Businesses
Further increasing the ease of doing business for agents
is The Hartford’s ability to convert auto, workers’
compensation and property schedules into an ACORD XML
stream, which is then entered into The Hartford’s internal
commercial lines rating and policy writing system. In
October 2002, the Hartford became the first insurer to
successfully accept this type of transaction, which is
based on ACORD XML large commercial standards for middle
market business.
Real-Time Rating Service for Personal Lines Auto
The Hartford is working to make it easy for agents using
the Nexsure agency management system to get a more
accurate real time quote for Personal Lines auto by
connecting directly with The Hartford using its real-time
rating service. It is one of the first insurers to have
this new technology available with Nexsure. The Hartford’s
Internet-based direct rating service is an
industry-leading technology and provides a single source
of contact for rating data. It can accept an ACORD XML
personal auto quote request, perform the rating and return
the results.
“The Hartford is definitely ahead of the technology curve
with its real-time quoting ability. By working together
with Microsoft, we can offer agents a true Web-based
service,” said Bob Juracka, president, XDimensional
Technologies. “XDTI is pleased to provide Hartford agents
with new technology like Web-based services on a .NET
platform. At the same time, we are still committed to
providing essential transactions, like download or the
transmittal of auto, workers’ compensation and property
schedules for middle market business.”
By leveraging its real-time rating service, The Hartford
is well positioned to introduce new technologies in a
significantly reduced amount of time.
About The Hartford
The Hartford is one of the nation's largest investment and
insurance companies. As of March 31, 2003, The Hartford
had assets of $188.7 billion and stockholders’ equity of
$9.4 billion. The company is a leading provider of
investment products, life insurance and group benefits;
automobile and homeowners products; and business property
and casualty insurance.
The Hartford's Internet address is
www.thehartford.com
Some of the statements in this release should be
considered forward-looking statements as defined in the
Private Securities Litigation Reform Act of 1995. We
caution investors that these forward-looking statements
are not guarantees of future performance, and actual
results may differ materially. Investors should consider
the important risks and uncertainties that may cause
actual results to differ. These important risks and
uncertainties include those discussed in our Quarterly
Reports on Form 10-Q, our 2002 Annual Report on Form 10-K
and the other filings we make with the Securities and
Exchange Commission. We assume no obligation to update
this release, which speaks as of the date issued.
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