Narragansett Bay Insurance Company Selects PipelineClaims As Part Of Technology Modernization Initiative
Pawtucket, RI -- (Marketwire) - BlueWave Technology, a leading provider of claim management solutions for the property and casualty insurance industry, announced today that Narragansett Bay Insurance Company (NBIC), a Rhode Island-based specialty underwriter of homeowners' insurance products and services along the Eastern seaboard, has selected BlueWave Technology's PipelineClaims as one of the core solutions in its Project APEX technology modernization initiative.
With legacy systems currently handling various aspects of claims transactions, NBIC's goal was to establish a highly advanced, flexible and nimble technology environment. That meant identifying, and then selecting, a system to consolidate IT processes and create a more fluid claims processing system. NBIC's requirements for a new claims system dictated the selected solution would be web-based, highly-customizable and able to improve claims turnaround time.
"PipelineClaims impressed us with a state-of-the-art system providing flexibility and capacity for a reliable, user-friendly claims system," said Bob Khosropur, chief claims officer for NBIC. "The system is sophisticated enough to handle all of our needs, and yet is intuitive enough to quickly train new users to a level of proficiency in its functionality."
Through PipelineClaims, BlueWave Technology can provide NBIC with the tools company adjusters need to process claims more efficiently, including offering options for system and workflow configuration, as well as user-defined data fields and business rules. BlueWave Technology's PipelineClaims is a Java-based solution that combines business process management (BPM) with centralized claims operations to expedite claims resolution.
"At NBIC we strive to use leading edge insurance carrier technology that will make certain our partners and clients receive the best web based, self-service and agency management integrated insurance processing platform available," said Mike Anselmo, chief information officer for NBIC. "Our APEX strategy will deliver this new innovative information architecture that will leapfrog other available platforms early next year. APEX will provide NBIC with exceptional client services, platform scalability, business alignment and the product agility needed to transform the homeowners' insurance marketplace. We selected BlueWave's PipelineClaims because its flexible, modern architecture aligns perfectly with our overall IT goals."
Recently recognized as the "Company to Watch for 2009" at the VIP awards, BlueWave Technology was also one of the companies which helped Farmers Alliance Mutual Insurance earn its 2009 Celent Model Carrier of the Year Award. NBIC expects to complete the PipelineClaims implementation by the first quarter of 2010.
"We are happy to be a part of NBIC's innovative technology initiative," said Riki Fujitani, president of BlueWave Technology. "With PipelineClaims, NBIC will be building an infrastructure that enables the company to operate at the leading edge of technology while delivering fast, fair and efficient claim handling."
About BlueWave Technology
BlueWave Technology, developer of PipelineClaims, a state-of-the-art, browser-based, technology solution that combines core claims administration capabilities with business process management (BPM) and configurable business rules, offers rich functionality to help property/casualty insurance companies, third-party administrators (TPAs), and self-insured organizations improve customer service, enhance profitability, drive down claim costs and increase customer retention rates through modern technology with the lowest total cost of ownership (TCO) available in the insurance industry today. For more information about BlueWave Technology or PipelineClaims, please visit www.bluewavetechnology.com or contact Renata Bell at 866.927.9981 or rbell@bluewavetechnology.com.
About Narragansett Bay Insurance Company (NBIC)
NBIC, headquartered in Rhode Island, offers specialty insurance services and products to homeowners through a select network of independent agents along the Eastern seaboard. Backed by highly rated reinsurers, NBIC has undergone a rigorous examination of its financial security and has received an "A, Exceptional" Financial Stability Rating (FSR) from Demotech, Inc., an independent financial analysis and actuarial services firm for property and casualty insurers. To find more information on NBIC, visit www.NBIC.com.
SOURCE: Narragansett Bay Insurance Company (NBIC)