Pegasystems Announces Insurance Industry New Business Solution Framework

Pegasystems Inc., (NASDAQ: PEGA), the leader in Business Process Management (BPM) software solutions, today announced a New Business Backbone as part of its suite of insurance industry frameworks.

The New Business Backbone improves policyholder conversion rates by providing insurers with a solution that reduces the process cycle time of new policy submissions. The framework’s robust case management features automate many of the manual processes in policyholder submissions and increase visibility to the status across the new business value chain. The new offering reduces application, quote, and policy issue processing times, increases productivity, and enables an improved customer and producer experience.

Using Pegasystems Build for Change^® technology, the New Business Backbone enables insurers to:

• Increase operational effectiveness – Perform straight through processing, automate redundant low complexity submissions, monitor service-level agreements (SLAs) and business alerts
• Improve efficiency and reduce expenses – Reduce unnecessary work steps and eliminate manual handoffs through skills-based routing that assigns work to the right resource at the right time
• Capture distribution channel loyalty – Leverage an "ease of use” business approach by providing intuitive tools that allow agents and brokers to expedite the processing of new business opportunities
• Achieve new levels of quality – Identify duplicate submissions, select appropriate quotes, and initiate bind and issue processes using powerful search and quote management capabilities

"Pegasystems’ approach to new business processing gives insurers a powerful tool to control and expedite submissions across front and back-office support operations,” said Gary Kirkham, Senior Director for Insurance Industry Solutions at Pegasystems. "The New Business Backbone allows them to build a support foundation that can be specialized by line of business to reduce operational expense and drive revenue growth.”

For more information, please visit the Pegasystems New Business Backbone for Insurance Webpage. Pegasystems will also be demonstrating the New Business Backbone at Booth #122 at the 2009 ACORD LOMA Insurance Systems Forum, May 17 – 19, 2009 at the Walt Disney World Dolphin Resort in Lake Buena Vista, Florida.

About Pegasystems

Pegasystems, the leader in Business Process Management, provides software to drive revenue growth, productivity and agility for the world's most sophisticated organizations. Customers use our award-winning SmartBPM^® suite to improve customer service, reach new markets and boost operational effectiveness.

Our patented SmartBPM technology makes enterprise applications easy to build and change by directly capturing business objectives and eliminating manual programming. SmartBPM unifies business rules and processes into composite applications that leverage existing systems -- empowering businesspeople and IT staff to Build for Change^®, deliver value quickly and outperform their competitors.

Pegasystems’ suite is complemented by best-practice frameworks designed for leaders in financial services, insurance, healthcare, government, life sciences, communications, manufacturing and other industries.

Headquartered in Cambridge, MA, Pegasystems has offices in North America, Europe and Asia. Visit us at www.pega.com.

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The information contained in this press release is not a commitment, promise, or legal obligation to deliver any material, code or functionality. The development, release and timing of any features or functionality described remains at the sole discretion of Pegasystems, Pegasystems specifically disclaims any liability with respect to this information.