SAN JOSE, Calif., March 17, 2009 (GLOBE NEWSWIRE) -- Convergent Insurance Services, LLC (Convergent), a leading provider of on-demand services to small and mid-size property/casualty insurance companies and program managers, and ISCS, Inc., provider of SurePower Innovation(r), the insurance industry's only comprehensive, web-enabled, pre-integrated, policy administration system available today, are pleased to announce the recent signing of an agreement to provide hosted data processing services, including component services from ISCS's SurePower Innovation and stat reporting services, to CEM Insurance Company (CEMIC).
"Following an exhaustive search of leading insurance company IT system providers and compliance consulting services, we selected ISCS and Convergent," said Matt Wagner, chief operating officer and general counsel for CEMIC. "We felt ISCS and Convergent offered the most comprehensive solution available in the market for small to medium sized companies with significant growth initiatives."
CEMIC is a property/casualty insurance company writing specialized commercial insurance coverages to support managing general agents (MGAs). The agreement with Convergent and ISCS will significantly increase CEMIC's ability to expand its business lines, better serve customers, streamline operating procedures and ultimately decrease operating expenses.
"We are excited about our relationship with CEMIC," said Tom Trezise, president of Convergent. "CEMIC is a solid program insurer and has great potential for growth. We are looking forward to providing an environment to support their expansion."
Convergent and ISCS are both headquartered in San Jose, California. Convergent specializes in providing insurance consulting and technology services to insurers, program managers, and businesses supporting the insurance industry, while ISCS focuses on providing cutting-edge technology solutions, like SurePower Innovation, to property/casualty insurance companies, MGAs and other insurance organizations.
About Convergent Insurance Services, LLC (Convergent)
Convergent Insurance Services, LLC, (Convergent) is a wholly-owned subsidiary of Power Management Group, and a sister company to ISCS, Inc., provider of SurePower Innovation, the property/casualty insurance industry's only comprehensive, pre-integrated, web-enabled policy administration system available today. Convergent provides unique services to small to mid-size property and casualty insurers and program managers. The company relies on a strong base of experienced insurance executives and insurance technology experts to apply the on-demand, Web Services model of ISCS' SurePower Innovation to achieve rapid development of new products and powerful and cost-effective configuration of business processes. For more information, contact Tim Shelton at 408-362-3000 or tim.shelton@convergentins.com or visit the Convergent Insurance Services website at www.convergentins.com.
About CEM Insurance Company (CEMIC)
Founded in 1982 and headquartered in Deer Park, Illinois, CEM Insurance Company (CEMIC) is a property & casualty insurance company writing specialized commercial insurance coverages to support managing general agents. CEMIC is currently licensed as an admitted carrier in 12 States (AR, AZ, ID, IN, IL, KS, MS, ND, PA, SD, TX, and WV) and the District of Columbia. The company specializes in Artisan Contractors' liability insurance, Used Auto Dealers' Garage property and liability insurance, Used Auto Dealers' Surety Bonds, Equipment Leasing insurance, Federal Flood Insurance Program Write-your-own (WYO) Flood Insurance, and specialty insurance program development. CEMIC has a Best's Rating of B+ by A.M. Best Company. For more information about CEMIC, please visit the company website at www.cemic.com.
About ISCS, Inc.
San Jose, Calif.-based ISCS offers the company's flagship product, SurePower Innovation, the only web-based policy administration system using SOA to automate personal and commercial lines underwriting, policy management, claims management, reinsurance, customer billing/remittance processing and financial reporting all with integrated document management. SurePower Innovation also includes a rules-based data warehouse, an improved document imaging client tool for broader indexing and LDAP standards-based security. For more information, contact Tim Shelton at 408-362-3000 or tim.shelton@iscs.com or visit the ISCS website at www.iscs.com.