Newsletter #4 – ClariNet 1.4 and 1.5

Welcome to our fourth newsletter and the first of 2010. The year is flying past and we’ve not been idle at ClearLife. Work on ClariNet has progressed apace; we released ClariNet 1.4 at the end of January and we’ve just released ClariNet 1.5. We’ve added several new subscribers and we’re looking forward to adding some more in the near future. Time for an update! Let’s start by highlighting some of the new features in 1.4 and 1.5 …

Online Life Expectancy Reports from 21st Services and ISC Services

We announced this in November and while it’s taken a little longer than we expected, 1.5 shows the first launch of online life expectancy report ordering from 21st Services and ISC Services. You can now order standard LE reports directly from the Insured Lives page in any Case and have the report and the report data delivered directly to your account in ClariNet. No more copying and pasting documents and data between different systems and no more emails! We’re working hard on integrating other report types in addition to the standard reports and we very much hope to add other medical underwriters to ClariNet in the coming months.

Life Settlements Impairment Grid (LSIG)

Again, announced in November and released in 1.4.7, LSIG is now available for approved investors which subscribe to ClariNet. Click here for more information on LSIG and the background to its development in conjunction with 21st Services. Click here to view a webcast demonstrating LSIG in action.

Customer Relationship Management – Privacy and Access

We made a conscious decision with ClariNet to start by building a secure, flexible workflow system and then integrate CRM features later. With 1.5, we have reached a stage in development where we feel comfortable beginning the process of CRM integration. The Privacy and Access tabs under the new Interaction page allow you to publicize your presence on ClariNet and to grant other subscribers access to your results in BuyBox. You can grant another subscriber the right to submit Cases to you and even to provide you with services through ClariNet (such as document redaction, Case setup and – in due course – policy and portfolio servicing). You can also request access to other ClariNet subscribers directly from the Access tab. Click here to watch a demonstration of two subscribers managing their business relationship through the Privacy and Access tabs.

Customer Relationship Management – Information Capture

Any life settlement transaction involves several different organizations and individuals. Anyone involved in that transaction needs to collect and retain information on the different participants. ClariNet 1.5 adds the Organizations and Individuals tabs to the Interaction page, which allows you to capture addresses, contacts and payment methods for transaction participants and other counterparties. You can store details of your favorite customer service representative at each of the carriers – you can even store information on the turnaround time for medical record orders from healthcare providers. All of this information is held securely within your account in ClariNet – watch a webcast describing the process of creating an Organization here.

Case Management – Excel Export

Any data management system – even one as well integrated and flexible as ClariNet – may from time to time be constrained by the imagination of its developers. We recognize that the limits of your imagination may exceed ours, so in 1.4.8 we released enhanced Case export tools to allow you to move Case data seamlessly into your own modeling environment. The Case export to Excel now includes a series of tabs detailing all of the information captured for the Case, as well as every premium schedule and every valuation for the Case. Click here to take a look at the new spreadsheet format and contents.

And there’s more …

We introduced a lot of new features (and fixed the occasional bug) in 1.4 and 1.5, in addition to those highlighted above. Here’s a snapshot:

  • Improved VOC page;
  • Improved document uploader control;
  • Introduced Servicing infrastructure – Servicing Task Frequencies and Servicing Task Notifications;
  • Introduced a Servicing Task – Premium Administration (tracks projected future and past actual premium payments for a Case);
  • Reorganised Administration menu;
  • Improved Documents page (with more types of documents);
  • Introduced User-specified Premium Schedules (via an XML template);
  • Allowed multiple Illustrations in a Case; and
  • Introduced Case State Alerts: email notifications when a Case changes State.

Upcoming Conferences

Conference season is well under way and this week finds Mark pausing for breath after the ELSA/LISA Trade Mission in London, Luxembourg and Zurich and the BVZL Conference in Berlin. Our thanks to everyone who stopped by to visit us at both shows and to see demonstrations of ClariNet.

  • We are exhibiting at the National Underwriter Conference in Miami, FL on March 11th and 12th.
  • Mark is speaking on a panel at the International Life Settlement Conference in London on March 22nd. Entitled “Bridging the Gap to Securitization: Standardization, Privacy and Technology”, the panel explores how the development of market standards and the effective use of technology could encourage new investors to step into the life settlements market.
  • We are exhibiting at the LISA Spring Conference at the Mandarin Oriental in Washington, DC from April 28-30. We will have our demonstration kiosk available showing the latest release of ClariNet.

That’s all for now. Please do contact us directly if you’d like more information on ClariNet and the new functionality. We’re busy on 1.6 and hope to be releasing that at the end of March and we look forward to announcing more new functionality after that release.