HONOLULU, HI--(Marketwire - Jun 29, 2011) - BlueWave Technology, a leading provider of claim management solutions for the property/casualty insurance industry, is pleased to congratulate Narragansett Bay Insurance Company (NBIC) for winning the distinguished 2011 Vanguards in Insurance Practices Award sponsored by Insurance Networking News and Celent. The award was presented during the ACORD-LOMA Insurance Systems Forum held recently in San Diego.
"We are very excited to see Narragansett Bay Insurance Company win this award," said Alyssa Hostelley, president at BlueWave Technology. "They have shown the industry that small insurance carriers can achieve dramatic results with modern technology. NBIC has replaced their core systems both strategically and very thoughtfully. They had their agents and customers in mind the entire time."
Headquartered in Rhode Island, NBIC offers specialty insurance products and services to homeowners through a select network of independent agents along the Eastern seaboard. Their V.I.P. award win was based largely on Project APEX, a technology modernization effort which targeted the company's in‐house legacy systems for replacement and sought to establish a highly‐advanced, flexible and nimble technology environment that would enable exceptional client services, platform scalability, business alignment and product agility needed to transform the homeowners' insurance marketplace. All systems selected as a part of Project APEX were chosen for their flexible, modern architecture, including BlueWave Technology's PipelineClaims, which was chosen specifically to help NBIC consolidate IT processes and create a more fluid, configurable claim workflow.
"We are pleased to recognize NBIC and its technology service producer, BlueWave Technology for their efforts in promoting ACORD, Web Services and XML standards in its project," said Pat Speer, editor-in-chief of Insurance Networking News. "This best practice partnership and associated leveraging of these standards enabled NBIC to successfully execute on its strategy to improve reduced claims cycle time, lower its costs and improve its customer service levels."
Winners announced during the 5th Annual V.I.P. program were determined by an industry survey conducted by Insurance Networking News and Celent at the end of 2010. This market survey was open exclusively to insurance companies in the U.S. and Canada who ranked their experiences with insurance technology providers across several categories. The awards were presented during a ceremony at which Holli Gronset, associate publisher of Insurance Networking News, Carrie Burns, senior managing editor of Insurance Networking News, and Craig Weber, SVP responsible for Celent's insurance practice, presided. Bob Khosropur, chief claims officer of NBIC, was on hand to accept the award, which was held Sunday, May 22, at the San Diego Convention Center during the ACORD-LOMA Insurance Systems Forum.
Most recently NBIC won the 2011 Celent Model Carrier Award for recent technology initiatives.
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 call 866.927.9981 or email info@bluewavetechnology.com.
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