Vision Risk Selects Claims Product from PCIS
Staff Writer | November 30, 2016
P&C Insurance Systems (PCIS) announces that Vision Risk Services, a third party administrator, has selected ClaimsVISION, PCIS’s SaaS model, which will make a rapid implementation possible for Vision Risk's workers' compensation, general liability, and auto lines of business.
The selection of PCIS reinforces Vision Risk's long history of innovating to differentiate itself in the market and deliver unmatched quality service to its clients. By leveraging ClaimsVISION, Vision Risk will be able to offer its clients intelligent data analytics and compliance automation. After careful market evaluation of available solutions, Vision Risk concluded ClaimsVISION stood out from the rest as an outstanding TPA grade system that offered the latest in technology.
Vision Risk was also impressed with PCIS's knowledge and experience in the New York self-insured market, specifically the company's history with complex public entities like New York City. PCIS's expertise and ability to interface with the New York Workers' Compensation Board was essential and the proprietary No Touch FROI/SROI (EDI) reporting was a leading contributor to the Vision Risk decision. The system's scalability was also a factor as the TPA looks to achieve aggressive growth and needed a system that could easily accommodate.
"ClaimsVISION's 100% automation of FROI/SROI reporting is a game changer,” says Angela Parnell-McDermott, president of Vision Risk. “While many vendors say they interface with the WCB for EDI reporting, the difference with PCIS was that our adjustors never have to know when to trigger a SROI being sent or add information. The system does it all for them. They are already automatically sending the WCB (of New York) the FROIs and SROIs for the largest public entity in the state, and we felt that our municipal clients could benefit greatly with the same solution."
Al Levy, vice president and managing director for Vision Risk, adds, "There are so many aspects of PCIS and ClaimsVISION that appealed to us. Not only is the system an ideal fit for our needs, but the expertise of the PCIS staff when it comes to the New York market and our lines of business is unmatched. We look forward to a long and mutually beneficial relationship."
In addition to a more efficient and TPA grade system, anticipated benefits from Vision Risk's deployment of ClaimsVISION include:
- Scalability while continuing to deliver the quality hands-on service Vision Risk clients expect;
- Efficient FROI/SROI resulting in reduced reliance on the state's Workers' Compensation Board eCase electronic case folder;
- Flexibility and growth by leveraging a hierarchy that makes the addition of new clients and data easy to manage;
- An advanced policy management module to handle coverage and aggregates/limits.
"This is a very satisfying win for PCIS given that Vision Risk has recognized that our ClaimsVISION offering is a proven solution, truly TPA grade, and able to handle the complexity and growth of their business," says Georgette Loizou, PCIS executive vice president. "We also appreciate the value Vision Risk sees in our expertise in the New York market and municipalities in general. We are confident that the skills and knowledge of our staff combined with our ClaimsVISION solution are the best fit for Vision Risk today and well into the future."
- Enterprise Architecture in an Agile World
- Top 10 Tips for Securing Your Mobile Devices and Sensitive Client Data
- Industry Insight: 4 Global Insurance Trends in Digital, Data, Content Services and Security
- Diving Deeper into Prioritizing Your Strategic Digital investments
- Why Content Rules
- How Mass Personalization Will Open the Small Business Benefits Market
- At Year End 2017, Will Your Organization Be Protected from Cyber Risks?
- Do Insurance Bots Dream of Mitigating Risk?
- Conditioned to Respond
- Managing & Mobilizing Insurance Data in a Connected World
- Race to the Finish Line
- New Tools, New Opportunities in Claims
- ITA LIVE: Reaching Insurance Industry Crossroads
- Advice to Insurance IT Leaders: Keep Your Eye on the Ball
- New Date, Venue for ITA LIVE 2017
- Guidewire Makes Major Push to Small and Midtier Market by Acquiring ISCS
- Insurance Disruption is Happening Right Now
- Insurity Adds Strategic Investment Partner, General Atlantic
- Beyond Transformation: The Convergence of Finance, Risk, and Actuarial Functions
- The Rapid Evolution of Consumer Protection Regulation
- Talent Hunt: Finding, Attracting, Retaining Top People
- Insurers Flexing Their Distribution Models
- Technology Driving Disruption in Insurance
- Fear of ‘Next Bubble’ Challenges Life, Annuity Carriers
- Technology Allows Commercial Lines Insurers to Stand Out
- Single Sign-on Viewed as Biggest Tech Challenge for Agencies
- ISCS Observes 20th Anniversary; Scurto Predicts Major Changes Ahead
- Policyholders and Their First Impressions
- Progressive Making Progress on the UBI Front
- High and Dry: Insurers Search for Disaster Recovery Plans
- Insurers Sign The (Un)Dotted Line
- Reflections of a Retired Insurance CIO
- Mobile Device Management Just One Answer to BYOD Issue
- Lessons from GEICO and Progressive on Winning the Critical Buying Stage
- You Are a Target for a Cyber Attack
- Web-based Systems are the Next Evolution in Claims Technology
- Gaining a “Wow” Experience from Web Users
- Time to Shift from Business/IT Alignment to Business/IT Alliance
- Healthcare Insurers Changing to Consumer Model
- Organization is the Key for Selecting Software Vendors
- Analysts Expound on the Needs of the Mid-tier Insurance Market
- Finding the Cure for Obamacare’s Website
- New Software Solutions Benefit Insurers on the Inside and Outside
- Products, Market Impede Investment in Systems for Life Insurers
- Combatting Cyber Threats: Predict, Prevent, Persist
- The Future of Telematics Heads Beyond Insurance
- The Shame in Cyber Security Lapses
- Building Policy Administration Systems for the Future
- Insurers Look Into The Eyes of Their Policyholders
- It’s a New Dawn for the ITA
INSURANCE IT NEWS
- Visioning, Setting Scope, and Execution Planning Critical for Successful Digital Strategies, Says Novarica
- ITS Implements QA Best Practices for Rockford Mutual
- FireLight® by Insurance Technologies Features New Advanced User Experience Capabilities and Wizard Designer
- InsurTech Startup Betterview Launches New AI Driven Roof Report to Immediately Identify Roof Condition & Characteristics
- Larger Insurers Extending their Analytics Leads and Piloting Artificial Intelligence, says 3rd Annual Novarica New Normal 100 Benchmark
- 360Globalnet Augments Services and Implementation Capabilities
- TechCanary Incorporates in Canada as TechCanary Insurance Software of Canada ULC
- XL Catlin to Build World’s First On-Demand Cyber Insurance Solution with Slice ICS
The Email Chat is a regular feature of the ITA Pro magazine and website. We send a series of questions to an insurance IT leader in search of thought-provoking responses on important issues facing the insurance industry.
ITA is pleased to present the 2014 Webinar Series. We have many topics for you to choose from and attendance is open to all ITA members. The webinar topics are current and exciting — ranging from predictive analytics to telematics and will focus on the direction insurance carriers need to follow for the future. All webinars are presented by insurance IT professionals along with some of the leading analysts and consultants in the field. There is no cost to attend an ITA webinar. For more information and to register for the webinar, click the “title” of the webinar below.
BLOGS AND COLUMNS
It has become a common refrain over the past few years to view the practice of enterprise architecture (EA) as something that time has passed by, much... READ MORE
One important trend in society over the past decade is our increasing ability to create and consume a seemingly unlimited amount of digital content... READ MORE
You have surely heard it said that small businesses are the growth engine for America. Today, the phrase has a special ring to it for benefits... READ MORE
With stagnant growth and lingering low interest rates, the life insurance industry faces a challenging future... READ MORE
Finding insurance carriers willing to write commercial lines risks has always been a challenge for producers... READ MORE
As Guidewire Software prepares for the start of Connections, its 11th annual user conference that begins on Nov. 2, Brian Desmond, chief marketing... READ MORE
Fraud detection has always been and will continue to be a critical component of claims management. Learning the lessons from current claims Straight... READ MORE
- Vendor Views