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 critical 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 rather than continuing to gather loss information."
Both Guidewire's claim system, Guidewire ClaimCenter, and First Notice's claim intake application, ClaimCaptureÔ, 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."
Source: First Notice Systems, Guidewire Software
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