SOURCE: Enservio

Enservio

January 06, 2010 08:42 ET

Enservio Named a "Hot Insurance Tech Company to Watch in 2010"

Independent Research Firm Identifies Enservio as One of the Companies With Inventive Approaches and Solutions for New Models of Insurance IT Operations

NATICK, MA--(Marketwire - January 6, 2010) - Enservio (www.enservio.com), the nation's leading provider of contents inventory creation, valuation and replacement services and software, today announced that it was named in the December 2009 report "Hot Insurance Technology Companies to Watch in 2010," by Forrester Research Inc. According to the report, these companies "are noteworthy to insurance industry strategists because of their inventive approaches and solutions that address new models for insurance IT operations."

Enservio is the market leader in contents inventory creation, valuation and replacement. The company provides software and services to property insurance carriers and their policy holders nationwide.

According to Forrester, as the economy improves, insurers recognize that the focus on cost reduction and efficiency improvements that allowed them to survive the downturn simply will not drive what they need for the upswing -- business growth. As a result, growing numbers of both specialist firms and tech generalists are looking to catch the attention of insurers with new technology, packaging, delivery models, and alliances. The Forrester Hot Insurance Tech Companies to Watch report says, "Enservio [and others] identified holes they could fill -- helping P&C carriers better manage claims costs."

"Being named a Hot Insurance Tech Company to Watch by Forrester is a tremendous honor for us," said Jon McNeill, CEO of Enservio. "The report recognizes Enservio's like, kind, quality (LKQ) database, which is our proprietary data asset that captures the price of personal and commercial items from a variety of sources and validates those prices daily. This allows us to give carriers the most accurate information available on the value of specific items, which in turn enables carriers to reimburse non-restorable items based on actual value."

The report notes that:

"Unlike the fairly standardized data available for vehicle claims, the billions of different items that fill US households make ascribing a value to the banal bits of life, like a pair of socks and a bath towel or the more treasured artifacts like a painting, daunting for the claims adjuster. And unless something really stuck out, carriers found it easier to pay out what the home or business owner claimed as lost content. Enservio's LKQ database now provides a mechanism to help carriers rein in claims leakage because they can now more accurately value an item's worth. Adjuster productivity is improved since with one call to Enservio, both household and hard-to-value items can be valued."

"In the report, Forrester encourages tech vendors to examine their businesses to see how well and how quickly they can adapt to the changing needs of the insurance market," added McNeill. "We've done that at Enservio. We have dedicated ourselves to building unique and innovative tools and services that help get people's lives back in order as quickly and efficiently as possible."

About Enservio

Enservio is the market leader in contents inventory creation, valuation and replacement. We provide software and services to property insurance carriers and their policy holders nationwide. Founded in 2004, we are headquartered near Boston, with offices and professional staff across the United States. For additional information, please visit the company's web site www.enservio.com or call 888.567.7557.

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