Island Insurance Selects PipelineClaims
|Monday, 27 October 2008|
Best-of-Breed Solution Will Streamline Claims Operations, Enhance Communication
BlueWave Technology™, a provider of property and casualty insurance solutions, today announced that Island Insurance Company, Ltd. has chosen BlueWave Technology’s PipelineClaims 3.0 as its new claims system. The decision to implement PipelineClaims by Hawaii’s largest locally owned and managed property and casualty insurance carrier is part of an overall SOA technology initiative; that initiative also includes best-of-breed applications such as policy issuance, rating, billing, financial reporting and analysis, an underwriting interface, agency and customer portal.
Once deployed, PipelineClaims will handle all lines of business for the carrier and replace its existing legacy system.Founded in 1939, Island Insurance has been serving Hawaii's insurance needs for nearly 70 years and currently writes more than $125 million of premiums state-wide. The company offers a full range of personal and commercial insurance coverage and has been recognized as one of the nation’s Top 50 property & casualty insurance companies by the Ward Group. Island Insurance has also earned financial strength ratings of "A" from A.M. Best Company and from Fitch Ratings, two of the world's oldest and most authoritative ratings organizations. Island Insurance is focused on delivering competitive insurance coverage while maintaining the highest levels of customer service. As its CIO, Jeff Fabry identified a need to update the company’s infrastructure, recognized that he did not want to develop the required systems internally – and began to take the steps necessary to implement a five-year strategic plan that included a best-of-breed, multi-vendor strategy. To execute that plan, Fabry looked at third party providers to achieve his best-of-breed solution. At the conclusion of his evaluation, Fabry selected PipelineClaims 3.0 as Island Insurance’s claims solution.
“We were looking to achieve greater efficiencies, as well as being able to communicate more effectively among people within our Claims department. We wanted a technologically-advanced system – and at a reasonable price,” commented Fabry. “PipelineClaims will deliver the efficiency improvements we need, take us up a notch and is priced competitively. From a compliance perspective, the system is also well thought-out and will provide the functionality we are currently lacking,” he added.
PipelineClaims 3.0 will also provide Island Insurance with the opportunity to reduce expenses, and enable adjusters to process claims more effectively and efficiently. “Island Insurance is a company focused on eliminating manual tasks, improving its business processes and increasing its market competitiveness,” commented Keith Inouye, COO of BlueWave Technology. “We’re pleased that Island has selected PipelineClaims as its claims solution – and we look forward to working with Island to implement a state-of-the-art system.”