SOURCE: BlueWave Technology

BlueWave Technology

July 13, 2010 11:15 ET

Key Differentiators of BlueWave Technology's PipelineClaims Recognized in New Novarica Claims Report

HONOLULU, HI and NEW YORK, NY--(Marketwire - July 13, 2010) -  BlueWave Technology's flagship claim management system for property/casualty insurance companies, PipelineClaims, was recently profiled in a report about insurance claim systems published by Novarica, a New York-based research and advisory firm specializing in financial services.

The Novarica report, "Novarica Market Navigator™ US Property / Casualty Claims Solutions 2010 (Q2)" profiles 23 vendors with claim systems available today, and emphasizes the importance of modern technology and effective claim management.

"Claims organizations face the challenge of balancing their loss costs, expenses, and the services they provide to customers," said Karlyn Carnahan, principal for Novarica's insurance team and author of the report. "While the goal is to offer a fair settlement and pay the appropriate amount, carriers also need to minimize leakage and reduce fraud... but doing all of this in a cost-effective manner... can prove difficult without solid support from technology."

The report also points out the importance of a focus on claims for an insurance organization by stating, "Claims play a critical strategic role in the overall success of a carrier. Close to 70 percent of their revenue is spent on claims -- and about 20 percent of that is spent managing the claims process."

"Claims management has become an area for strategic innovation as technology allows carriers to increase efficiencies, deliver a better customer experience and glean new insights through easier access to data," said Carnahan in the report. "Carriers with leading claims organizations are implementing modern solutions with tools that make it easier to meet their goals and objectives."

The software vendor profiles in the report each include an objective overview of key functionality, organization, technology stack, client base, and implementation timeframes and costs. In addition to these common profile features, BlueWave's profile specifically notes PipelineClaims' modern technology base and some of the solution's key differentiators, such as "ease of use, configurability, J2EE/SOA-enabled architecture and low total cost of ownership."

"We are excited to be featured in Novarica's report, and to showcase our solution for the small to mid-size carriers," said Riki Fujitani, president and CEO of BlueWave Technology. "We're committed to giving them a valuable, modern solution without compromising quality."

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 visit the BlueWave Technology website at www.bluewavetechnology.com.

About Novarica
Novarica provides information, insights, and perspective on markets, operations, and technology to financial services and insurance executives and project teams. The company delivers its service through published research, retained advisory services, and project-based consulting. Novarica's research includes market and trend analyses, best practices research, case studies, and independent analyses of insurance software vendors including the Novarica Market Navigators™ and Novarica ACE (Average Customer Experience) Rankings. Novarica is a division of Novantas, LLC, the leading management consultancy and information services provider for the financial services industries. For more information about Novarica or this report, please call 212-419-2520, or visit the Novarica website at www.novarica.com.

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