Functionality Expanded from Auto to All Lines of Property and Casualty
TORONTO (November 4, 2002) – Castek Inc. announces that HB Group Insurance Management, Ltd. has gone live with an enhanced version of its online claims communication system, ClaimsPath (formerly InsuroCity). Implemented in June 2001 to manage auto physical damage claims, HB Group examiners access ClaimsPath via the Internet to now manage claims for all lines of P&C business, including auto, property, and liability.
“ClaimsPath has demonstrated measurable benefits in workflow efficiency, severity, management information and customer service in our claims operations.” says Dan Watchorn, Vice President Claims and Operations at HB Group. “Because ClaimsPath provides us with a common platform to communicate with all of our vendors, the expansion to property vendors, and specifically our network of contractors, seemed the next logical step.”
Castek’s rebranding of the system reflects its enhanced functionality and ability to provide claims management across all lines of property and casualty. In addition, ClaimsPath allows for carrier-specific application Web pages and remote vendor set-up, resulting in measurably reduced customization and implementation time.
“With continuing significant investment in R&D and the collaboration of insurance development-partners, like HB Group, we’ve built a successful product that brings real value to the insurance industry,” states Castek President and COO, Pete Jones. “Castek is focused on providing customers with a measurable return on investment when they implement our solutions, and the newly expanded ClaimsPath product has proven its ability to do exactly that.”
ClaimsPath is an Internet-accessed application that connects all service providers in the claims resolution process, from first notice of loss to approval of invoices. It allows adjusters to connect and send assignments from desktop directly to service provider partners and track and document all communications, replacing the inefficencies of phone and the fax as the primary communication tool in the claims handling process. The system which can be hosted or licensed is customizable to a carrier’s individual claims workflow and can be fully integrated with existing policy and claims systems.
Since June, 2001 when the first claim was processed through ClaimsPath’s collaborative communications network, over 170,000 transactions involving approximately 10,000 claims have been processed through ClaimsPath, which now has over 350 participants including adjusters, rental agencies, repair shops, property contractors, independent appraisers, independent adjusters, contents providers, salvage and other specialty suppliers.
About HB Group Insurance Management, Ltd.
HB Group Insurance Management Limited is a subsidiary of The Co-operators, a group of wholly owned Canadian companies that specialize in insurance and financial products, property development, and management and investment counseling. The Co-operators group of companies provides insurance protection to more than two million Canadians and has assets of more than $4.7 billion. HB Group is headquartered in Ontario and is the direct writing arm of The Co-operators, overseeing group and individual customers for personal lines home and automobile products. HB Group is a national company and services $160 million in premium across Canada.
About Castek Inc.
Castek Inc. specializes in the creation of strategic business software for P&C insurance. Recognized for the advanced architecture and flexibility of its products that address key P&C insurer business concerns, Castek provides carriers with a suite of core business processing systems for insurance product and process configuration, policy processing and claims management. For more information, please visit www.castek.com or call 1-866-9CASTEK.