Press Releases
First Notice Systems and Guidewire Software Form Alliance to Streamline Claims Handling
The Combination of a Robust Claims Intake Platform and a Comprehensive Claims System Helps P&C Insurance Carriers Process Claims More Efficiently and Better Service Policyholders
BOSTON, MA and SAN MATEO, CA, January 6, 2004 - First Notice Systems , Inc., the leader in claim reporting solutions for the insurance industry, and Guidewire Software, Inc., a leading provider of claims solutions to property and casualty and workers' compensation insurers, today announced the formation of a strategic alliance that gives insurance carriers an end-to-end claims reporting and management solution. Customers of both companies can now easily leverage First Notice's expertise and value-added services at first notice of loss and Guidewire's downstream claims processing system to enhance claims handling procedures and improve customer service.
Efficiently transmitting first-report data into a core claims management system for immediate use by adjusters is critical to driving down loss adjusting expense (LAE) and shortening claims cycle time. But this is a challenge for many insurance carriers. Often a first-report is captured in a totally separate environment (e.g., by an independent agent) and must be manually inserted into the carrier's claims management system. Or, if a carrier uses the first notice of loss (FNOL) entry module of its claims management system, the data gathering process may be incomplete and information that could expedite claims settlement may not be available.
"Our claims system is built to handle very detailed loss information and provide adjusters with all the tools and information they need to do their jobs more efficiently," said James Kwak, Vice President of Marketing, Guidewire Software. "Importing loss information directly from First Notice gives our customers rapid access to complete FNOL information, letting adjusters start adjusting claims immediately."
Both Guidewire's claim system, Guidewire ClaimCenter, and First Notice's claim intake application, ClaimCapture, are Web-based and designed to be tailored by customers to their unique business requirements. This architecture allows seamless integration to 3rd party systems for services such as direct repair program referrals, ordering police reports, flagging suspicious claims, and more, with notifications of these activities transmitted directly into the claim file. Both applications can also easily integrate with multiple legacy systems, including policy administration systems.
By joining forces, First Notice and Guidewire are better positioned to service insurers who are taking a hard look at their claims handling systems and processes. "We're seeing a trend in the industry where insurance carriers - especially the larger ones - are simultaneously putting out RFPs for claims management systems and, separately, first notice claim reporting systems," said Jim Leightheiser, Vice President of Product Marketing, First Notice Systems. "A combined Guidewire-First Notice solution allows us to address both needs through one, comprehensive offering."
About First Notice Systems
Founded in 1993, First Notice Systems (www.firstnotice.com) is a premier provider of claim reporting and customer service solutions to the insurance and healthcare industries. First Notice connects insurance carriers, third-party administrators and healthcare organizations with their customers through a combination of call center outsourcing services and rules-based Web technology. With headquarters in Boston, MA, First Notice Systems, Inc. is a wholly owned subsidiary of Concentra Inc. Concentra is a leading healthcare company offering a broad range of products and services that provide quality patient care for work-related injuries and that manage the rising costs of healthcare and workers' compensation. Concentra serves the occupational healthcare, group health and auto/liability markets.
About Guidewire Software
Guidewire Software is a leading provider of claims solutions to property and casualty and workers' compensation insurers. Guidewire applies modern software technology to help insurance carriers run their claims operations and reduce avoidable claims costs. Guidewire ClaimCenter is the industry's first end-to-end, 100% web-based claims system for all lines of business. For more information, please visit www.guidewire.com.
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NOTE: "Concentra" and "First Notice Systems" are registered trademarks of Concentra Operating Corporation (www.concentra.com). Guidewire Software and Guidewire ClaimCenter are trademarks of Guidewire Software, Inc.
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