Advanced Claims Technology Helps to Modernize, Accelerate and Consolidate Claims Processing
Honolulu, HI – December 1, 2008 — BlueWave Technology, a provider of property and casualty insurance solutions, today announced that the Farmers Alliance Companies (FAMI) has implemented BlueWave Technology’s PipelineClaims 3.0 software application as part of its company-wide technology modernization initiative. As a result of deploying PipelineClaims, FAMI will be able to reduce claims cycle time and enable the company to be more responsive to its customers.
Farmers Alliance Mutual Insurance Company, Alliance Insurance Company, Inc. and Alliance Indemnity Company are the three regional companies that comprise FAMI. Those companies provide property and casualty insurance for homes, autos, businesses and farms. Represented by more than 650 independent insurance agencies across a nine-state region, the Farmers Alliance Companies writes more than $125 million in premiums annually.
With up to 300 new claims needing to be handled each day, FAMI made a commitment to transform its claims processing function. The technology modernization initiative, named the “iFAMI” project, consists of a multi-phased approach. Beginning with its Businessowners Policies (BOP) and followed by Commercial, Personal and Farm lines, FAMI is replacing its legacy systems with modern technology solutions that enable the company to be more nimble and responsive. “As part of the overall initiative, we wanted a cost-effective, best-of-breed claims system developed with integration and configuration as key priorities,” commented Andy Edwardson, Vice President of IT at FAMI. “PipelineClaims 3.0 will help us to realize our goals of reducing costs, improving operating efficiencies and being better able to address our compliance requirements.”
According to Chad Hersh, insurance analyst at Novarica, “Insurers are replacing legacy systems with modern offerings that enable improved business practices. Claims is one of the few areas of P/C insurance technology that isn’t highly fragmented and over-served, and the addition of a new proven option to consider will be welcomed by carriers.” The major goal for the iFAMI initiative is to deploy software that improves FAMI’s core information systems. “As a result of the automation that PipelineClaims provides, we expect to accelerate our claims processing time, reduce manual and redundant tasks, and improve data management and reporting,” stated John Foster, VP of Claims for FAMI.
“We are pleased to play an integral part in FAMI’s technology modernization initiative and look forward to helping them as they deploy PipelineClaims throughout the Farmers Alliance Companies,” commented Keith Inouye, COO of BlueWave Technology.
About BlueWave Technology
BlueWave Technology provides modern, web-based applications that address the specific needs of the property and casualty insurance industry. Founded in 2001, the company develops and implements its flagship product, PipelineClaims, a robust claims management solution built on a highly flexible and configurable technology platform. With a deep understanding of the insurance industry and its clients’ needs, BlueWave Technology provides solutions that allow clients to focus on their core business operations. The company is headquartered in Honolulu, Hawaii. For more information, please visit www.bluewave-technology.com
Renata Bell | BlueWave Technology
Was this article valuable?
Here are more articles you may enjoy.