State Auto Chooses Effisoft’s
WebXL for Reinsurance Administration
State Auto Insurance Companies, Columbus, Ohio, has chosen Effisoft's WebXL software for ceded reinsurance administration. Effisoft USA Inc., Dallas, is the North American division of Effisoft, Europe’s leading vendor of reinsurance software.
State Auto will gain a comprehensive solution capable of administering its multiple reinsurance arrangements. “WebXL is a critical piece of our overall effort to improve reinsurance administration andprocessing,” said Matt Pollak, vice president, chief accounting officer and treasurer at State Auto.“WebXL will enable us to streamline and automate our reinsurance process, thus simplifying regulatory compliance.”
WebXL will replace the legacy systems, Access database, and manual processes State Auto uses to manage reinsurance.
“State Auto came to us with specific requirements about how their system would have to meet their unique needs,” said Joseph Sebbag, CEO of Effisoft USA Inc.. “It was gratifying to be chosen after an exhaustive selection process.”
State Auto selected a hybrid model, which provides what most insurers demand: retention and ownership of company data while outsourcing software management. Both the application and database servers are installed on site at State Auto. Effisoft, however, remotely manages and maintains the WebXL platform, Sebbag said.
The project kicked off in September and is scheduled for completion in less than a year.
State Auto Insurance Companies markets products and services through independent insurance agencies, which include retail agencies and wholesale brokers. Group assets are in excess of $4.1 billion, with 2014 direct written premium of $2.1 billion. The corporate headquarters is in Columbus, Ohio, where State Auto was founded in 1921. Regional headquarters are located in Nashville, Tenn., Indianapolis, Ind., Columbus, Ohio, Austin, Texas and Baltimore, Md.
The State Auto Group is rated A- (Excellent) by the A.M. Best Company and consists of State Automobile Mutual, State Auto Property & Casualty, State Auto Ohio, State Auto Wisconsin, Milbank, Meridian Security and Patrons Mutual, Rockhill Insurance, Plaza Insurance, American Compensation and Bloomington Compensation.