Leading Insurance Provider in Panama Chooses Ultimus to Increase Customer Satisfaction, Streamline Agent Communication
Ultimus BPM Suite Enables Aseguradora Ancon to Speed Claims Processing and Customer Response
CARY, N.C., May 30, 2006 – Ultimus, the leading provider of Business Process Management (BPM) and Workflow Automation software and services that enable the shortest time to value, today announced that Aseguradora Ancon (Ancon Insurance) has reduced costs and improved service as a result of automating several core business processes. By leveraging BPM, Panama-based Ancon has been able to process a far greater number of claims in less time and is now evaluating BPM for even more finance, sales and HR processes.

Because the company routes critical data, such as medical histories, between several Ancon offices and agents throughout Panama, it is essential that Ancon successfully and securely manage the sensitive communication within the agent network. Ancon is using Ultimus because of its proven ability to automate key processes at a low total cost of ownership while meeting the security mandated by the industry.

“Our organization has been able to see clear benefits of BPM first-hand, including a significant reduction in approval times for claims,” said Mr. Carlos Chamorro, General Manager, Aseguradora Ancon. “For this reason, Ancon has plans to further expand its use of Ultimus-based automated processes throughout the organization, and we are sure that this will yield even greater savings and efficiencies.”

Ancon has seen the following improvements by implementing the Ultimus BPM Suite:
  • Reduced approval times from 2 hours to 30 minutes.
  • Automatic generation of comparative prices tables and purchase orders

Ancon first deployed Ultimus to automate a process that facilitates the registration and fulfillment of new auto insurance policies through independent agents to drivers nationwide. This online process includes a series of conditional steps that enable varying levels of approval to be automatically enabled or disabled based on the application content. At completion, the approved application and other documentation are saved to a secure location. These improvements ease communication and bring a sense of order and connectivity to this geographically dispersed team.

“Whether automating internal administrative processes or those used by customers and partners, we’re confident that companies such as Ancon improve operations and drive savings through our technology. Because the financial return is realized quickly, companies soon seek to apply Ultimus to other processes within and across the company,” said Marco Fregenal, Ultimus president and COO. “In this case, Ultimus has helped Ancon ensure both quality and consistency throughout and this in turn has made a clear difference in customer service.”
Founded by an alliance of successful Panamanian businessmen, Ancon offers a variety of insurance products targeting the home, commercial, industrial and service markets. The company emphasizes both its financial and technological stability. For this reason, Ancon continually seeks ways in which its business can benefit from innovative deployment of technology.

About Ultimus
A pioneer in human-centric Business Process Management, workflow automation and faster time to value, Ultimus is a global software company that enables enterprises worldwide to increase their profits by modeling, automating, managing and optimizing every business process. Headquartered in Cary, North Carolina, the company has business operations throughout North America, South America, Europe, Asia and the Middle East. Ultimus has more than 100 partners and more than 1,500 customers, including Grupo Financiero Uno, Cable & Wireless Panama, Rexam, Carnival and McKesson Corporation.