|Cincinnati Insurance Increases Efficiency of Transactions with Its Independent Agencies|
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CINCINNATI, June 19, 2007 /PRNewswire-FirstCall via COMTEX News Network/ -- Cincinnati Financial Corporation (Nasdaq: CINF) -- The Cincinnati Insurance Company announced today that it has added technology to allow its local independent agencies to upload selected information directly from their agency management systems to e- CLAS(R), Cincinnati's system for processing dentist's and businessowners package policies. Cincinnati earlier this year added CinciBridge(TM) upload capability to its WinCPP(R) commercial rating system.
"Our decision to offer this technology gives us another tool to further strengthen our agency relationships. CinciBridge makes it easier to do business with us, enhancing our ability to sustain industry-leading growth," said James E. Benoski, president and chief executive officer of The Cincinnati Insurance Company. "CinciBridge streamlines application submissions, saving time and reducing error due to duplicate entry. Agencies can leverage the information they've already entered in their agency management systems to submit applications and initiate commercial quotes, providing more efficient service. This frees their time to compete for business by providing prompt, personal and professional service."
CinciBridge works with interactive services from the two major insurance agency management system vendors, Applied Systems, Inc. and AMS Services, Inc., to provide real-time policy rating and submission. To protect privacy, information is transferred by secure methods using the IVANS/Transformation Station network for Applied customers and the TransactNOW system for AMS users.
Cincinnati is one of the first carriers in the industry to implement commercial lines bridging technology as promoted by the Agents Council for Technology and ACORD-User Groups Information Exchange. Both organizations advocate for real-time services, allowing independent agencies that represent multiple carriers to process policy transactions from the agency's client file.
Cincinnati Financial Corporation offers property and casualty insurance, our main business, through The Cincinnati Insurance Company, The Cincinnati Indemnity Company and The Cincinnati Casualty Company. The Cincinnati Life Insurance Company markets life and disability income insurance and annuities. CFC Investment Company offers commercial leasing and financing services. CinFin Capital Management Company provides asset management services to institutions, corporations and individuals. For additional information about the company, please visit www.cinfin.com
This is our "Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995. Our business is subject to certain risks and uncertainties that may cause actual results to differ materially from those suggested by the forward-looking statements in this report. Some of those risks and uncertainties are discussed in our 2006 Annual Report on Form 10-K, Item 1A, Risk Factors, Page 20. Although we often review or update our forward-looking statements when events warrant, we caution our readers that we undertake no obligation to do so.
Factors that could cause or contribute to such differences include, but are not limited to:
Further, the company's insurance businesses are subject to the effects of changing social, economic and regulatory environments. Public and regulatory initiatives have included efforts to adversely influence and restrict premium rates, restrict the ability to cancel policies, impose underwriting standards and expand overall regulation. The company also is subject to public and regulatory initiatives that can affect the market value for its common stock, such as recent measures affecting corporate financial reporting and governance. The ultimate changes and eventual effects, if any, of these initiatives are uncertain.
SOURCE Cincinnati Financial Corporation
Media, Joan O. Shevchik, +1-513-603-5323, or Investors, Heather J. Wietzel,