SOURCE: Premier Information Management, Inc.

January 19, 2006 10:00 ET

Premier Information Management's PiSuite™ of Applications Including Its PiImageX™ Software Helps Major Insurance Providers Reduce Risk, Increase Profits

Proprietary Software Application Is Redefining the Way Mission Critical Information Gets Processed in the Insurance and Healthcare Industries

PHOENIX, AZ -- (MARKET WIRE) -- January 19, 2006 -- Premier Information Management, Inc. (OTC: PIFR), an emerging provider of information management services to the insurance and healthcare industries, announced today the release of its proprietary suite of applications, PiSuite™, including its PiImageX™ application-based process. The rules-based application was deployed specifically to reduce costs associated with underwriting and claim processes by decreasing turnaround times associated with underwriting applications and processing claims by as much as 40% and redefining the way mission critical information is being assimilated and processed in the insurance and healthcare industries.

"Our process was developed with the client at the epicenter," said Tom Miller, CEO of Premier Information Management. "PiImageX™ was designed to be fully customizable with scalability from one transaction to several million transactions per month... the application also provides the capability for future expansion with the release of upgraded application versions and modules. These features give our clients the flexibility and efficiency they demand and provide a level of service not currently offered by our industry competitors."

Insurance Information gathering, including Attending Physician Statements (APS), Paramedical Examinations, and Inspections, create the backbone for sound underwriting decisions and claim processing by providing indispensable information regarding new applicants and claimants. Premier implements process solutions to efficiently procure and manage information necessary for Insurance Carriers, Brokers, and Agents to evaluate risk associated with underwriting and claim requirements. Premier leverages its proprietary PiSuite™ of applications, built around its PiImageX™ solution to deliver cutting edge EDI technology and uncompromising service to reduce underwriting processing times and case costs by seamlessly migrating mission critical information into end users' systems.

"According to recent NAIC data over $3 trillion in new life insurance policies were issued in 2004 and policy issuances have been increasing at a 9% annual rate since 1994, which suggests that the processing and dissemination of health information has become even more critical for risk management. We believe our PiSuite™ of applications is a perfect marriage for our clients seeking to reduce risk and increase profits." Miller adds, "We are excited about the response PiImageX™ has received from our core clients thus far and are confident our strategy of delivering the industry's most advanced top-to-bottom data migration application will pay off in terms of broad market acceptance and increased market share."

How PiImageX™ Works

As the foundation of Premier's suite of applications, PiSuite™, its proprietary PiImageX™ process involves a robust and scaleable document conversion and migration application integrated with efficient workflow solutions to process information critical for insurance carriers to manage and assess their risk. Paper documents are processed via PiImageX™, and depending upon each users' specific requirements, are imaged and converted into a specified format, scripted with an accompanying index or definition file, compressed and encrypted, then packaged together with a reconciliation or check file. The electronic packets are then securely transmitted via multiple protocols into end-users' systems. Simultaneous Transmissions will redefine the underwriting process and Premier's capability to simultaneously transmit a packet of information, running on a single process, to an unlimited number of end users, across multiple secure protocols including HTTPS, client-side FTP, server-side FTP, VPN, direct point-to-point, or third party applications, gives Premier a distinct advantage over its competitors. Major competitors are required to run a number of antiquated processes to deliver information, which retards efficiency and increases turnaround times.

For more information:

--  Premier Information Management, Inc.
    http://www.premierinformationmanagement.com
    
About Premier Information Management, Inc.:

Premier Information Management, Inc., located in Phoenix, AZ, is a national provider of outsourced processing services currently focusing its business strategies in two heavily information intensive industries, insurance and healthcare, with plans to extend their strategies into the Financial Services and other industries where there is a demand for information processing. Specifically, Premier implements process solutions to efficiently procure and manage information necessary for Insurance Carriers, Brokers, and Agents to evaluate risk associated with underwriting and claim requirements. Premier leverages its proprietary suite of applications, PiSuite™, built around its PiImageX™ solution to deliver cutting edge EDI technology and uncompromising service to reduce underwriting processing times and case costs by seamlessly migrating mission critical information into end users' systems. Their streamlined approach produces information request turnaround times previously uncharted in the industry, significantly influencing their clients' bottom line.

Except historical matter contained herein, matters discussed in this news release are forward-looking statements and are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect assumptions and involve risks and uncertainties, which may affect the Company's business and prospects and cause actual results to differ materially from these forward-looking statements.

Contact Information

  • Contact:
    Premier Information Management, Inc
    Investor relations
    Allen Yoong
    416-628-8024