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Adaptik Insurance Solutions Is Awarded Second Patent for Innovative Technology
Tuesday, July 03, 2007
Bethlehem, PA -- Adaptik Corporation today announced that they have been awarded a second patent for their technology independent Method and Apparatus for Creating an Adaptive Application. (USP# 7,191,188, Issued May 13, 2007)
"We are very proud to have received this second patent," said John Pettit, President of Adaptik. "The recognition of our technology's innovative capabilities by the U.S. Patent and Trademark Office demonstrates our commitment to provide a policy administration platform that benefits insurers in ways that traditional solutions have never been able to offer."
PolicyWriter, Adaptik's flagship product, employs the architecture detailed within the patent and is built on an open technology platform. This unique application architecture provides PolicyWriter with unparalleled capabilities in the areas of Rule Configuration Version Management, automated Out-of-Sequence Processing and Rule-Reapplication. Customers using PolicyWriter are able to rapidly develop new insurance products while tracking and managing the evolution of existing product offerings.
"We are conscious of the difficulties presented by the inelasticity of certain policy administration solutions and tools, which make it complicated to interact with other systems and respond to changes within the market. Most policy administration solutions currently available provide a configuration component but still rely on traditional development to handle nonstandard processing. PolicyWriter's adaptive architecture allows us to provide solutions that minimize application coding while maximizing application flexibility and extensibility. The result is reduced development costs and reduced time-to-market for new products," said Dr. Tamer Uluakar, Adaptik's Chief Architect.
About Adaptik Corporation
Located in Bethlehem, Pennsylvania, Adaptik Corporation provides highly flexible and cost effective software solutions to Property & Casualty insurers. Adaptik's flagship product is PolicyWriter, a uniquely adaptive browser-based system that goes far beyond traditional policy administration. Product Designer significantly speeds up the introduction and evolution of insurance products, allowing insurers to quickly take advantage of business opportunities. Account Manager is a modern and highly advanced policy administration system that captures policy data via an intuitive web based user interface and processes the full life cycle of policy transactions for all lines of P&C business, in addition to providing sophisticated policy processing functions that dramatically improve operational performance. For additional information, please visit http://www.adaptik.com/ or call (800) 306-1062. Contact Adaptik to experience our dramatic speed and versatility.
Contact: Laura Ford Adaptik Corporation 1495 Valley Center Parkway Suite 120 Bethlehem, PA 18017 Phone (800) 306-1062 E-mail: lford@adaptik.com.
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