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Monday
May 24, 2004
Press Release
Stewart Title to Manage P&C Operation with Nexsure from
XDimensional Technologies
Houston, TX, May 24, 2004 -- With more than 7,400 issuing
locations nationwide, you’d think a product line extension
would be a simple process. But that wasn’t the case when
Stewart Information Services Corporation decided to add
Property and Casualty Insurance to their already
impressive roster of products and services.
As Stewart began crafting the business model for the new
P&C unit, Stewart Insurance Solutions, they were
confronted with significant technological challenges. For
one thing, figuring out how to communicate with carrier
service centers on a real-time basis was a primary
concern. In addition, Stewart wanted their system to
perform full service agency management functions, like
Contact Management, Accounting, Business Analytics and
Customer Relationship Management. They also wanted a
system that would allow a completely paperless operation.
Customizing the firm’s enterprise system was a
consideration. But that would eat up valuable time and
money. Adding cost to the P&C launch and extending the
payback period on the investment indefinitely didn’t seem
like the best way to get the new enterprise started.
Given Stewart Information Services’ hard-earned reputation
as the leader in real estate information technology and
connectivity, looking to existing software packages as a
solution meant an intense examination of the products
available. After all, Stewart’s expertise in electronic
delivery of critical services needed for real estate and
mortgage transactions, such as title reports, automated
retrieval and filing of records with county clerks,
property ownership mapping and the like, is responsible
for the organization’s steady growth and successful track
record.
Following much deliberation and countless hours
scrutinizing the available applications, Stewart
Information Services chose Nexsure, from XDimensional
Technologies of Brea, California.
“The technology found in the Nexsure system is first class
as agency management systems go,” said Jerome Magana,
President of Stewart Insurance Solutions. “Nexsure is the
best ‘new’ technology in the industry in quite some time.
Since it’s built on a pure Microsoft .NET framework using
XML, Nexsure will scale and expand to meet the evolving
needs of our operation as it matures. Moreover, another
benefit of working with XDimensional is their willingness
to partner with us to develop new and refined methods and
ideas to better the system.”
Josh Lee, Technology Strategy Director, for Financial
Services at Microsoft states “XDimensional Technologies
has always been one of the technology leaders in the
insurance industry, beginning with its introduction of
Nexsure taking advantage of web services. Developed using
Microsoft .NET, XML and Microsoft server technology,
Nexsure provides a powerful and elegant application for
insurance agencies, brokers, and carriers. Its scalable
architecture and use of .NET provides for easy
connectivity between business agents, carriers and
partners, rich secure features sets, and scalability.
Nexsure is software designed specifically for managing
insurance agencies and brokerages. The system enables
companies to combine sales and marketing, accounting,
business analytics and customer relationship management
with one robust and scaleable application. Bringing
together the multi-faceted processes necessary to run a
profitable insurance operation in today’s global
marketplace.
“Nexsure allows us to effortlessly communicate with our
carrier service centers. If a change on a policyholder’s
file is completed through the service center, it is
automatically documented on our system and vice versa.
This allows a partnership with the insurance companies in
order to provide seamless customer service to the client,”
Magana said.
“Our business model depends heavily on our ability to
expand operations and to increase productivity,” added
Stewart Morris Jr., president and co-chief executive
officer of Stewart Information Services Corporation. “We
intend to expand geographic coverage and maintain high
productivity of our operations using the same technology
in every location while providing great service to our
customers. With Nexsure, XDimensional has demonstrated
they can provide systems that will help us meet these
objectives.”
Nexsure’s sales and marketing functionality enables
brokerages or agencies to quantify and capitalize on
customer value. The easy to use, intuitive user interface
facilitates customer interaction at every level of the
organization, from the salesperson in the field to the
customer service representative in the office. The benefit
is intimate, long-term customer relationships.
Nexsure also enhances customer trust through greater
security, financial integrity and investor/stakeholder
value. This is because Nexsure offers a full suite of
accounting functions and real-time access to standardized
reports, like: Trial Balance, Cash Flow Statements, Income
Statements, Department Budgets and Account Detail.
In addition, the Nexsure system incorporates an advanced
security engine along with audit and safeguard features
needed to comply with legislation like Sarbanes-Oxley,
Graham-Leach-Bliley and HIPAA.
“As an agency, I have the ability to store all documents
that would normally be held in a physical paper file,”
Magana observed. “Policy building, quotes, client and
carrier correspondence, templates for letters and various
accounting services are necessities that Nexsure provides
at each customer service representatives fingertips. This
will enable us to manage relationships proactively while
increasing responsiveness on both ends of the value
chain.”
Since 1893, Stewart has been known as a strategically
competitive, global real estate information services
company. In recent years the firm’s technological prowess
has earned Stewart the distinction of being named to the
Forbes Platinum 400 list of America's best-performing
large companies, topping the 20 insurance companies on the
list for the highest five-year average growth in earnings
per share. Stewart is also listed on the FORTUNE 1000,
jumping from 941 to 732 in 2003.
“We look forward to building our partnership with
XDimensional and using their leading-edge technology to
make the most of our growth opportunities in the P and C
insurance business that will complement our national and
international title insurance business,” Stewart Morris
Jr. said.
About Stewart Information Services Corporation
Stewart Information Services Corp. (NYSE-STC) is a
technology driven, strategically competitive, global real
estate information company. Stewart provides title
insurance and related information services through more
than 7,400 issuing locations in the United States and
several international markets. Stewart meets the needs of
the real estate and mortgage industries through the
delivery of information services required for settlement
using e-commerce. These services include title reports,
flood determinations, document preparation, property
reports and background checks. Stewart also supplies
post-closing services to lenders, automated county clerk
land records, property ownership mapping and GIS for
governmental entities. Stewart provides expertise in
tax-deferred exchanges. More information about Stewart can
be found at
www.stewart.com.
About XDimensional Technologies, Inc.
XDimensional® Technologies, Inc. (www.xdimensional.com)
based in Brea, CA., develops and markets Nexsure®, the
Internet insurance agency management solution that
connects agents, carriers, brokers, and policyholders,
driving efficient business production, superior customer
service, and insightful business management. Nexsure
offers robust contact management, sales force automation,
advanced work flow, standard (property and casualty, life
and health, benefits) and custom lines of business, policy
life cycle management, CRM, and multi-office accounting
and reporting. Nexsure is a scalable, web-based, Microsoft®
.NET application with built in web services, data
processing, and transactional capabilities. Nexsure
provides unmatched ease of use, scalability, and
information availability to help insurance agencies
achieve their business goals. XDimensional Corporate
Headquarters are located at 145 S. State College Blvd,
Suite 160, Brea, CA. 92821, tel: 714-672-8960, fax:
714-672-8908
| Contact
Information |
| Warren Long, VP
Marketing |
| XDimensional
Technologies, Inc. |
| Phone: 800-789-2567 |
| E-Mail:
warren.long@xdti.com |
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