A New Era in Claims Processing
Jersey City, N.J. (Oct. 9, 2015) – Verisk Insurance Solutions has announced that ISO ClaimSearch®, the industry-leading solution for improving claims processing and fighting insurance fraud, has developed a new integration model for claims system vendors. The ISO ClaimSearch alliance with core systems solution provider EIS Group marks a new era in the history of claims processing. Verisk Insurance Solutions is a Verisk Analytics business.
The new ISO ClaimSearch integration model will provide EIS Group’s customers with an unprecedented interactive view of industry claims data. The model will help claims handlers who work in the EIS claims management system, ClaimCore™, to navigate seamlessly across a series of interactive analytics and improve efficiency. The availability of ISO ClaimSearch analytics within the EIS solution will also provide real-time claims data using a new single sign-on (SSO) and ETL (extract, transform, load) data extraction process.
“Implementing deep claims system integration is an important step in the evolution of real-time claim analytics and processing,” said Carlos Martins, vice president and general manager of ISO ClaimSearch Solutions. “EIS Group has shown foresight in bringing this project to fruition. The integration with ISO ClaimSearch will provide immediate benefits to its customers, ultimately helping them reduce cycle time and IT costs through numerous efficiencies. The implementation will also boost EIS customers’ bottom line through built-in fraud detection capabilities.”
The EIS claims system integration with ISO ClaimSearch is intended to empower claims handlers to use critical data and analytics for making the best decisions to achieve lower claim severity, reduce expenses, fulfill compliance, and improve customer service.
“ISO ClaimSearch is uniquely positioned to achieve successful claims system integration, thanks to our constant drive toward innovation and our advanced analytics surrounding claims processing and fraud detection,” said Richard Della Rocca, president of Claims and Crime Analytics at Verisk Insurance Solutions.
Deep claims system integration is an important part of the larger ISO ClaimSearch transformation. Since 2014, this multiphase project has advanced the goal of creating a more intuitive, robust ISO ClaimSearch system that offers cutting-edge solutions fully integrated throughout the life of a claim.
“At EIS Group, our mission is to continually engineer best-in-class, high-value insurance technologies,” said Rowshi Pejooh, senior vice president of product management, EIS Group. “We’re pleased that through this collaboration with ISO, we’re once again pioneering a solution that empowers our customers to outperform their competition in this era of intense change.”
The ISO ClaimSearch Claims System Integration Partnership Program offers information to claims system vendors, their integrators, and third-party administrators that wish to inquire about aligning with ISO.
About EIS Group
EIS Group is a global provider of insurance core systems. EIS Group products provide capabilities to insurers that enable profitable growth and help them meet their goals for operational and cost efficiency. Customers deploy our multiline platform to achieve rapid and scalable solution implementations. The EIS Suite™ component solutions – PolicyCore™, BillingCore™, ClaimCore™ and CustomerCore™ – offer the industry’s most complete end-to-end capabilities, including rating, underwriting, policy administration, claims, billing, distribution management and CRM. EIS Group is headquartered in San Francisco with operations in North America, Latin America, Europe, and Asia Pacific. Please visit www.eisgroup.com for more information.
About Verisk Insurance Solutions
A Verisk Analytics (Nasdaq:VRSK) business, Verisk Insurance Solutions is a leading source of information about property/casualty insurance risk. Drawing upon vast experience in data management, security, and predictive modeling to serve its clients, Verisk Insurance Solutions includes the industry-leading brands of ISO, AIR Worldwide, and Xactware. In the United States and around the world, Verisk Insurance Solutions helps customers protect people, property, and financial assets. For more information, visit www.verisk.com/insurance.
Source: Verisk Analytics