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Cowan Insurance Group, Open Text Offer Insurance Online

[Kitchener-Waterloo, CANADA] - Cowan Insurance Group, Canada's largest privately owned multi-line insurance brokerage group, and Open Text Corp., a provider of collaborative commerce software for e-business, have partnered to create a Web-based insurance broker application, the cowaninsure.com Insurance Centre.

Because Cowan has an existing relationship with AOL Canada Inc., AOL Canada members will be the first Canadian online consumers to compare products and prices from multiple insurers in one online area, located on AOL Canada's Personal Finance Channel at Keyword: Insurance.

Powered by Livelink, the cowaninsure.com Insurance Centre is an insurance e-community that connects insurance purchasers to Canadian insurance companies, providing business-to-consumer (B2C) and business-to-business (B2B) transaction capabilities.

Once AOL Canada members are in the cowaninsure.com Insurance Centre, the Open Text e-Business Solutions architecture acts as a platform for electronic transactions and sharing its information with the insurers using collaborative XML-based business-to-business document transfer and transactional workflow capabilities.

The insurance companies then use this information to provide prospective customers with binding quotations in real time using an automated Open Text Virtual Underwriter engine.

"This Livelink-based application allows the cowaninsure.com Insurance Center site to offer a combination of business collaboration with e-commerce, laying a foundation for Cowan Dalton to further develop an expanded e-community of suppliers, insurance carriers, service and information providers," said Andrew Pery, vice president, marketing, Open Text.

Virtual Underwriter uses a rules processing engine to automate the business rules used in the insurance underwriting process and applies them to data collected from the insurance purchaser.