Missouri Employers Mutual of implementation of Guidewire ClaimCenter Wins 2009 Technology Achievement Award

 

Thursday, Jun 25,2009, 10:57:02 AM   Click:

ORLANDO, FL - (MARKET WIRE) - 06/24/09 - IASA and Ward Group are pleased to announce Missouri Employers Mutual Insurance Company (MEM) has been named a winner of the 2009 Technology Award for an initiative in cooperation with business partners Guidewire and HCL who managed to replace the company's core administration system claims.

The presentation of Awards of technology took place on Monday 8 June 2009 during the IASA Annual Conference & Business Show in Orlando, Florida. Ernie Pearson, CIO of IASA and director of systems development SECURA insurance, and Jeffrey Rieder, CPA, CPCU, and President of Ward Group, presented the award to Michael Foerster, MEM IOC.

"Missouri Employers Mutual of implementation of its new claims system was a success," said Rieder. "The importance of investment and the impact on the organization are important. Disciplined society to develop a business decision, the rigor of project management and use of agile methodologies achieved a very positive return on investment. "

MEM, with business partners and Guidewire HCL, replaced the company's core administration system with Guidewire claims ClaimCenter and exceeded the business objectives for the project. Some of the most important benefits MEM achieved include:




- A 16.8 percent against an expected return on investment 12 percent ROI - Savings medical discount and use management - Reduced handling costs, medical costs - Staffing efficiency - Improved provision services to injured workers



The results of this project were judged by a committee of the industry as "innovative" and "deliver measurable business impact of the insurance industry." The panel of industry experts who participated in evaluation of the award submissions included those from ISO, the Insurance Data Management Association (IDMA), TowerGroup, Insurance Networking News, Novarica, SMA, The Tech Group and Ward Consultant.

"The replacement of our core claims management is a key initiative for mission MEM. As such, we used a number of new techniques to engage, focus and empower all stakeholders to make it a success . The tools we chose gave us a solid foundation, and the methodology we used allowed us visibility in the process of making the necessary mid-course corrections. We are honored that these efforts are recognized by these organizations felt that the IASA, Ward Group and other members of the Evaluation Committee. Personally, I could not be more proud of the members of the core team and all employees who have helped make this initiative a success. "

There were two projects selected for Honorable Mention in addition to the winner of this year's prices. The first honorable mention went to the Insurance Company of the West (ICW) for the implementation of the management system FirstBest underwriting and the second honorable mention went to the doctors for help their work implementing the SOA-based Bill and Collect payment system as part of the company Greenfield program.

About IASA

The Insurance Accounting & Systems Association, Inc. (IASA) is a non-profit, education association that seeks to improve knowledge of insurance industry professionals, and participants also closely allied with the organizations of the insurance industry by facilitating the exchange of ideas and information. IASA is one of the insurance industry of the largest and most represented and professional associations. IASA includes insurance companies of all types (Property & Casualty, Life, Health, Fraternal, HMO and others) as members, as well as companies serving the insurance industry, regulators and also organizations more broadly representative of the financial services industry, including banks and investment brokerage firms. Learn more about the IASA, visit our website at www. Iasa.org or by phone at (919) 489-0991.


About Ward Group

Ward Group is a consulting firm's mission is to help insurance companies to measure the results, optimize performance and be more profitable. The company is the leading provider of operational benchmarking and best practices of services specializing in the analysis of staffing and expenditure management. For more information about Ward Group services, visit www.wardinc.com.

About Missouri Employers Mutual Insurance Company (MEM)

Missouri Employers Mutual Missouri is No. 1 provider of workers' compensation insurance. Since opening our doors for business March 1 1995, the MEM has been dedicated to policyholders with exceptional customer service, loss of expertise and quality of prevention and timely, personal claims management. Headquartered in Columbia, MEM is a mutual insurance company benefiting its policyholders - the employers of Missouri. MEM has over a decade of experience writing for several classes of business than any other carrier in the state. We write about 600 different types of businesses in all counties of Missouri. For more information on MEM, please visit the company www.mem-ins.com.

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IASA Media Contact: Jennifer King Overhulse St. Nick Media Services (859) 803-6597 Email Contact