SOURCE: Systema Software

Systema Software

June 09, 2015 08:00 ET

Systema Software Offers Breakthrough Workers' Compensation EDI Compliance Solution Leveraging Ebix Inc.'s On-Demand Service

Workers' Compensation Customers Now Benefit From Automated EDI Reporting to Comply With FROI and SROI Requirements That Vary by State

LARKSPUR, CA--(Marketwired - Jun 9, 2015) - Systema Software, LLC, a leading provider of claims administration software and services to the insurance industry, today announced that it will offer a breakthrough workers' compensation EDI compliance solution. Systema Software will leverage the WCIRS (Workers' Compensation Injury Reporting Service) on-demand service from Ebix, Inc., (NASDAQ: EBIX) as the engine that helps to facilitate easy, automated, and simplified compliance capabilities.

Jose Tribuzio, CEO of Systema Software, commented: "Workers' compensation is the most regulated line of P&C insurance coverage in the nation. Today, 30 states require organizations to submit claims information electronically, and yet all states have their own approach. Each has unique rules and regulations as to when a First Report of Injury (FROI) and Subsequent Reports of Injury (SROI) must be submitted. As a result, for many large, national companies that operate across state lines, it's a huge challenge to stay abreast of requirements, and what's at stake are penalties for non-compliance. State agencies charge fines to organizations that are not filing their claims appropriately."

Brian Mack, Vice President of Sales & Marketing at Systema Software, added, "By leveraging Ebix, compliance headaches become a thing of the past for our workers' compensation clients. SIMS customers will be able to fulfill state regulations for workers' compensation claims submission. This is a streamlined, hassle-free EDI reporting solution. From within SIMS, FROI and SROI reports will be automatically created and submitted to state agencies, minimizing the time and effort required by our clients and their claims staff. Compliance becomes automated, reliable, and cost-effective."

Shayne Garner, Partner and VP Enterprise Solutions, Risk Management Division at Ebix, noted: "SIMS Claims' workers' compensation clients will be able to leverage significant value from these compliance capabilities, including quick adoption of EDI reporting, automated compliance for all states, and improved data accuracy -- all while drastically reducing the administrative support required from internal personnel."

About Ebix, Inc.
A leading international supplier of On-Demand software and E-commerce services to the insurance, financial and healthcare industries, Ebix, Inc., (NASDAQ: EBIX) provides end-to-end solutions ranging from infrastructure exchanges, carrier systems, agency systems and risk compliance solutions to custom software development for all entities involved in the insurance industry.

With 40+ offices across Australia, Brazil, Canada, India, New Zealand, Singapore, the US and the UK, Ebix powers multiple exchanges across the world in the field of life, annuity, health and property & casualty insurance while conducting in excess of $100 billion in insurance premiums on its platforms. Through its various SaaS-based software platforms, Ebix employs hundreds of insurance and technology professionals to provide products, support and consultancy to thousands of customers on six continents. For more information, visit the Company's website at www.ebix.com.

About Systema Software 
Systema Software, LLC, provides flexible, comprehensive solutions and services to the insurance industry. SIMS Claims is an innovative, award-winning claims administration system, which is highly praised by clients and well recognized by industry experts as a leading claims solution. Together, our team of Big 4 consulting and industry veterans, experienced software developers, and project managers deliver an architecturally strong enterprise platform, designed for superior speed, scalability, and performance. With advanced technology and focused customer service, Systema Software has experienced phenomenal growth and success, earning high rankings on the national Inc. 5000 and local Fast 100 lists of fastest-growing private companies. For more information, visit us online at www.systemasoft.com.

Contact Information

  • Contact:
    Cynthia Chow
    Systema Software
    800-272-9102 x.712