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Suzy Tuck |
Hasbrouck Heights, NJ - October 22, 1998 - PaperClip Software, Inc., a leading developer of Integrated Document Management Solutions, announced today that BISYS Insurance Services, the nation's largest independent distributor of life insurance, has selected PaperClip32 as their enterprise document management and imaging solution.
BISYS will use more than 450 installed end users of PaperClip32 to reduce the tremendous amounts of paper-based documents processed daily, and to further automate and enhance their entire business process.
According to Ken Prillaman, executive vice president of BISYS Insurance Services, "PaperClip32 will enable BISYS to electronically manage our vast amounts of valuable information, dramatically improving our ability to access, share, and exchange documents throughout our organization and with our carriers. Strategically, the deployment of PaperClip32 throughout our enterprise will effectively leverage the integration between the document management / imaging solution and our fully automated agency management system (p.d.,q. 2000). This integrated solution set will enable us to dramatically improve overall business process and inherently improve our levels of customer service."
BISYS' p.d.,q. 2000 system is recognized industry-wide as the leading agency management system. The system is marketed within the life insurance industry by GE Financial Assurance.
"The technological advances that BISYS has implemented during the past few years have allowed our associates to become more productive and have enhanced our relationships with our business partners. The deployment of PaperClip32 is another component of our evolution to a paperless underwriting process," continued Mr. Prillaman.
Suzanne Tuck, director of corporate sales for PaperClip Software Inc., stated "PaperClip and BISYS both view this project as the beginning of the paperless evolution in the life insurance industry. Our imaging technology will enable BISYS to exchange documents electronically with its business partners, eliminating the need to physically 'move' paper. More importantly, PaperClip32's Electronic Document eXchange (EDX) will bridge technologies enabling BISYS's business partners to leverage investments already made in technology." Concluded Ms. Tuck.
About BISYS Insurance Services
BISYS Insurance Services is the nation's leading independent distributor of life insurance, and a major distributor of long term care, group life, and health insurance products. It is recognized as the premier, single source access mechanism to insurance companies and products, support services, and related technology.
About BISYS
The BISYS Group, Inc., headquartered in Little Falls, NJ, supports more than 9,000 financial institutions and corporate clients through its integrated business units. BISYS provides bank information solutions, check imaging applications, and brokerage services to more than 1,000 financial institutions nationwide; distributes and administers over 60 families of mutual funds consisting of more than 900 portfolios; provides retirement plan services to over 6,500 companies in partnership with 30 of the nation's leading bank and investment management companies; and provides insurance distribution solutions, Internet/telephone marketing, enterprise-wide networking services, and market research services. BISYS trades on NASDAQ under the symbol BSYS.
About PaperClip Incorporated.
PaperClip Incorporated develops and markets software products that organize, manage and communicate documents, images and workflow for a wide range of users. Established in 1991, PaperClip has a customer base that includes small and mid-size organizations as well as Fortune 1000 multi-nationals. PaperClip markets its products through an international network of authorized PaperClip resellers. For further information, please contact PaperClip at (800) 9293503 or (201) 329-6300, or visit www.PaperClip.com. Public Symbol: PCLP.
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PaperClip and PaperClip32 are registered trademarks of PaperClip Incorporated. All other named products mentioned in this release may have been identified by trademarks or registered trademarks of their respective holder.