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/24-7PressRelease/ - PITTSBURGH, PA, March 21, 2008 - SEEC, Inc., the leading provider of Business Component Software for the insurance, healthcare and financial services industries, today announced that it added 10 new enterprise customers over the past 12 months, extending the company's leadership position in the market for Service-Oriented Architecture (SOA) solutions. In addition, SEEC recently completed pilots with 11 new prospects.
In the US insurance industry, SEEC now serves:
• 4 of the top 10 Life/Annuities companies
• 2 of the top 10 Property & Casualty companies
Examples of SOA solutions that SEEC has implemented for customers using its pre-built library of over 300 SOA software components include:
• Common order entry and 360-degree view of the customer for a multi-line insurance carrier
• Configurable claims solution for a health and life carrier
• Agent portal for a multi-line life/annuities and P&C carrier
• Beneficiary services for a life insurance carrier
• Funds update and transfer for an annuities provider
• Producer management for a financial services firm
"In live implementations, we have demonstrated the ability to cut the time and cost to deliver composite SOA-based applications by over 50% compared to starting from scratch with a custom development project" said Shane Tulloch, President and Chief Executive Officer of SEEC. "In times when budgets are tight, SEEC offers a way for customers to meet business needs with a non-proprietary solution for less money."
The Company's flagship library of standards-based, reusable software components (the SEEC Advantage Library&#61652; ) provides a deep selection of ready-built functionality that can be rapidly assembled and customized to deliver SOA solutions with a rich Web 2.0 user experience. SEEC components form a shared-Services layer above legacy applications based on industry-standard semantics, providing a uniform way to access information and perform transactions across otherwise disconnected IT silo's. Unlike traditional applications, SEEC components leverage the legacy data and back-end functionality already in place, enabling customers to re-use proven systems without a high-risk replacement decision, and liberate the business from struggling with silo'ed applications. SEEC components are built to industry-standards (J2EE, ACORD, Web Services), and licensed with the source code, avoiding the risk of proprietary lock-in, forced upgrades and obsolescence. To obtain a copy of the most recent SEEC Business Component Software catalog, contact SEEC at 1.800.682.SEEC (7332) or complete a request at www.seec.com
SEEC provides the World's largest library of Business Component Software for the insurance and financial services industries. The SEEC Advantage Library contains hundreds of pre-built software components that are designed by domain experts, built to industry standards, and licensed with the source code, providing customers with a trusted source of highly reusable, non-proprietary assets purpose-built for insurance and financial services providers. Companies use SEEC business components to rapidly assemble custom web-applications that streamline customer service, accelerate sales, and dramatically improve customer and agent experience across all channels, products and lines of business. SEEC's loosely-coupled component architecture delivers business functionality by integrating and enhancing proven capabilities across existing systems, increasing agility, reuse, and responsiveness to business priorities. By leveraging SEEC's deep selection of ready-built assets, IT organizations gain a significant competitive advantage - a faster, more cost-effective and flexible way to deliver business results than building solutions from scratch.
SEEC's customers include Global 1000 companies from North America, Europe and Asia, in insurance, banking, financial services, healthcare, and a range of other service-driven industries. Industry leaders including New York Life Insurance, Banker's Life & Casualty, North Carolina Farm Bureau Insurance, and Ohio Casualty rely on SEEC to increase productivity, drive innovation and growth, and enhance customer experience. SEEC is headquartered in Pittsburgh, Pennsylvania, and has offices in Hyderabad, India. For more information, visit us at www.seec.com.
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