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Celent names Xenos a Significant Player in Insurance Document Handling Solutions spectrum
TORONTO, Ontario, September 27, 2006 - Xenos Group Inc. (TSX: XNS), a
leading provider of solutions that capture, transform, transport and present data and
electronic documents, has been named a "Significant Player” in the Insurance
Document Handling Solutions spectrum in a recent report published by Celent, a
leading international financial services analyst firm.
Celent’s report, Document Management for Insurers: Overview and Solution
Spectrum, published August 30 2006, available directly from Celent, classifies more
than 20 vendors to help insurance companies understand their technology options in
different areas of document management. This classification is primarily determined
by current market positions based on client base and industry momentum.
"Document management is a key issue for insurers. Every step of the insurance
product life cycle from product definition through distribution, underwriting, service,
and claims relies on the creation and handling of internal and external documents,”
said Matthew Josefowicz, manager of Celent’s Insurance group and co-author of the
report. "Managing the creation, distribution, acceptance, and routing of all this
paper-based (and electronic) information is a major task”.
"Celent’s recognition of Xenos is validation of our technology for insurance customers
to speed policy origination via straight-through processing and to reduce call centre
volume by shifting common inquiries online, such as Explanation of Benefits,” said
Patrick Smith, Director, Products and Marketing for Xenos. “Legacy systems that are
ill-equipped to handle straight-through processing and unstructured documents
housed in disparate archives in incompatible formats are among the obstacles
overcome by deploying Xenos software solutions—without reengineering,” Smith
said.
The Xenos product suite comprises d2e™, a high volume document stream transform
server, implemented with many leading ECM archives including Oracle, IBM, FileNet,
Systemware and Mobius among others, infoWEB™, a portal plugin for consolidated
view and e-statement presentment of archived information assets and
terminalONE™, a data interchange server to enable straight through processing into
legacy environments.
Learn more about Xenos solutions on www.xenos.com/solutions
About Celent
Celent is a research and consulting firm focused on the application of information
technology in the global financial services industry. Celent's analyst team is
organized by financial services industry vertical: Banking, Securities & Investments,
as well as Insurance. These analysts produce monthly research reports for
members, and are available to members to further explore issues and questions that
may arise. Headquartered in Boston, Celent maintains offices in New York, San
Francisco, Tokyo, Paris, and London. With its team of internationally experienced
and multi-lingual analysts, Celent is able to provide its clients with global
perspective. Visit www.celent.com
About Xenos
Xenos (TSX: XNS) is a leading global provider of high-performance software solutions that automate the
processing and delivery of data and documents. Xenos solutions enable organizations to reduce costs and
increase organizational efficiency, agility and accountability by streamlining and simplifying the
transformation and repurposing of data and documents into actionable business information, without reengineering
legacy applications.
Xenos solutions are embraced worldwide across a wide variety of industries including financial services,
insurance, healthcare, telecommunications, manufacturing, logistics, transportation, retail and government
sectors.
A majority of Xenos' customers are among the FORTUNE 1000 or Global 500 leaders. Xenos has
offices in Canada, the United States, the United Kingdom and France and sells and supports its solutions
through a global network of resellers and partners. Xenos trades on the Toronto Stock Exchange under the
trading symbol 'XNS.' For more information, visit www.xenos.com.
Editorial Contacts:
Graham Barker
Xenos Group Inc.
+1 905 763 5103
gbarker@xenos.com
Investor Relations Contact:
Cory Pala
Xenos Group, Inc.
+1-416-657-2400
cpala@xenos.com
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