Softronic and Scruggs bring new systems solution to North American Insurance companies

Softronic and Scruggs bring new systems solution to North American Insurance companies Softronic announced today that they have signed a strategic teaming agreement with an affiliate of The Scruggs Group, SCyber.com, Inc. Together they will introduce Softronic's ITM insurance system in the North American market. Scruggs has insurance customers throughout North America and maintains one of the world's largest casualty actuarial consulting practices. Founded in 1984, Softronic provides IT solutions and services for its worldwide customer base. Their Insurance Technology Management (ITM) software illustrates the technological sophistication of Softronic products. ITM is a complete e-business solution for the insurance industry. Introduced to the European market in 1998, ITM offers the capability to organize and automate any insurance operation according to its specific needs. This strategic partnership with Scruggs will accelerate the distribution and implementation of ITM within the North American market. "We strongly believe that Scruggs is the ideal partner to support our entry into the USA and other North American markets," says Stig Martin, deputy CEO at Softronic AB. "They offer the perfect combination of highly sophisticated insurance knowledge with a proven capability of being able to successfully implement technology solutions for the insurance industry." Scruggs, through its various affiliates, delivers actuarial and information products and services to insurance buyers, sellers, and underwriters. Located just north of Dallas, Texas, Scruggs supports customers throughout the world. "Our professionals have worked on or with most of the insurance policy and claims administration systems marketed in the United States," says Michael Scruggs, CEO of The Scruggs Group, "and we know of no competing system that provides the power and flexibility of ITM. Its superior design and architecture will allow our customers to dramatically reduce the time it takes to implement new products and revise workflow processes. Unlike many other competing systems, I believe that ITM will actually enable, rather than disable, their business practices. Softronic has produced a truly world class system." For further information, please contact Anders Eriksson, CEO Softronic AB, 08-51 90 90 00, anders.eriksson@softronic.se Stig Martin, deputy CEO, Softronic AB, 08-51 90 90 00, stig.martin@softronic.se Michael Scruggs, CEO of The Scruggs Group, 00 1 - 940 455 7201, scruggs@scruggs.com The Scruggs Group Headquartered just outside of Dallas, Texas, Scruggs provides its insurance company clients with targeted actuarial and information products and services related to: policy and claims administration systems implementation; management information systems design and construction; rating systems development and implementation; pricing and product development; regulatory compliance support; direct response program design and development; model building in support of strategic and operational initiatives; loss and loss adjustment expense reserve analyses; custom- coded Internet and intranet client/server products; due diligence, valuation, and transition support for mergers and acquisitions; dynamic financial analysis; litigation support; and expert witness testimony. www.scruggs.com Softronic Anders Eriksson, managing director of the company, founded Softronic in 1984. Softronic is an expansive Internet company with 360 employees in four cities in Sweden, Denmark, Estonia, Spain and Portugal. Additional sales offices are located in England and the United States. In recent years, Softronic has focused on using Internet technology to assist customers in the change processes made necessary by the new economy. The company has used Internet technology in all new projects since 1997. Softronic's management consultants are specialists at IT-driven change and the engineers and developers master the technology, both front-end and back-end. Projects encompass everything from public e-commerce solutions and connections to operational systems, to strategic and organisational consequences. Softronic is quoted on the Stockholm Stock Exchange's O- list. ITM ITM is a complete e-business solution offering the possibility of organising any insurance business according to its specific needs. ITM uses a number of dynamic functions that creates tailor maid insurance covers without programming. This includes life, pension, investment and non-life business. ITM is sold and implemented by partners of Softronic, and as of today they are are as follows IBM (Sweden and Denmark), Rebus Group (England/Europe) and Scruggs (Texas, USA). A successful insurance operation must be able to focus on the insurance buyer, being either private or corporate. To win and keep the client requires knowledge of existing and potential clients and the ability to give them your complete attention. ITM provides the necessary tools where, in a single graphic interface, you can view all transactions for each client for all of their insurance contracts. ITM is a standard system constantly being improved by customer requests and planned new releases. ITM is created to give you a modern state of the art tool for performing and developing your insurance business. ITM provides a cost efficient standard technology adaptable to changes in the market and in the methods of insurance administration. ITM creates business and reduces your expenses. When creating ITM we used what we believe is a reliable and lasting IT technology. As a company this encapsulates our understanding of the present and future system requirements for the global insurance markets. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/05/15/20000515BIT00270/bit0001.doc http://www.bit.se/bitonline/2000/05/15/20000515BIT00270/bit0002.pdf