Bluewave Named 'Company to Watch "in 2009 Vanguards in

ORLANDO, Fla., May 18, 2009 (GLOBE NEWSWIRE) -- BlueWave Technology, a leading provider of claim management solutions for the property/casualty insurance industry, is pleased to announce the company has been named the ``Company to Watch'' in the 2009 Vanguards in Insurance Practices (V.I.P.) program sponsored by Insurance Networking News and Celent, an Oliver Wyman company.

BlueWave Technology offers a Java-based solution that combines business process management (BPM) with centralized claims operations to expedite claims resolution. Celent recently recognized BlueWave as one of the companies which helped Farmers Alliance Mutual Insurance earn its 2009 Model Carrier of the Year Award.

``The importance of responsiveness is certainly not lost on this relative newcomer to the industry, especially in light of its ability to help insurers expedite claims,'' said Pat Speer, editor-in-chief of Insurance Networking News. ``Insurance Networking's editors are pleased to recognize BlueWave Technology as the 2009 VIP Company to Watch.''

Awards based on the 3rd Annual V.I.P. program were presented during a black tie ceremony at which Holli Gronset, associate publisher of Insurance Networking News, Carrie Burns, senior managing editor of Insurance Networking News, and Jeff Goldberg, senior analyst in Celent's Insurance Group, presided. Riki Fujitani, CEO of BlueWave Technology, was on hand to accept the award at the ceremony, which was held Sunday, May 17, at the Walt Disney World Dolphin Hotel during the ACORD-LOMA Insurance Systems Forum.

``Being named a VIP 'Company to Watch' shows that BlueWave has won over customers and is poised for success,'' said Craig Weber, senior vice president of Celent's Insurance Group.

V.I.P. winners were determined by an industry survey conducted by Insurance Networking News and Celent at the end of 2008. This market survey was open exclusively to insurance companies in the United States and Canada who ranked their experiences with insurance technology providers across several categories.

``Our number one goal is to have satisfied customers,'' said Riki Fujitani, president of BlueWave. ``We feel that everything else will follow. This recognition demonstrates that our modern, user-friendly technology and our diligent implementation methodology have been received favorably by those who matter the most.''

To download or view the V.I.P. report, please go to http://www.celent.com.

About BlueWave Technology

BlueWave Technology, developer of PipelineClaims, a state-of-the-art, browser-based, technology solution that combines core claims administration capabilities with business process management (BPM) and configurable business rules, offers rich functionality to help property/casualty insurance companies, third-party administrators (TPAs), and self-insured organizations improve customer service, enhance profitability, drive down claim costs and increase customer retention rates through modern technology with the lowest total cost of ownership (TCO) available in the insurance industry today. For more information about BlueWave Technology or PipelineClaims, please contact Renata Bell at 866-927-9981 or rbell@bluewave-technology.com.

About Celent

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally experienced analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is part of Marsh & McLennan Companies (NYSE:MMC - News). For more information about Celent or the report, please contact Dana Lautin at 646-364-8254 or dlautin@celent.com.

About Insurance Networking News and SourceMedia, Inc.

Insurance Networking News is a trusted source for information on how technology is being implemented to support insurers' strategic business objectives, providing insightful analysis of -- and case studies on -- how technology is being innovatively utilized to automate critical processes. Every issue of Insurance Networking News is written to help senior insurance executives bypass the hype and get to the heart of resolving industry challenges. Readers rely on carefully researched content that is both engaging and analytical. SourceMedia, an Investcorp company, is the pre-eminent provider of timely and essential market information -- including industry news, analysis, research and insights -- for members of the financial services community, as well as related fields such as accounting and technology. Through its comprehensive library of professional publications, suite of industry-standard data applications, and in-depth seminars and conferences, SourceMedia (http://www.sourcemedia.com) offers its clients and subscribers a valuable and sophisticated range of products and services.