SOURCE: Valley Oak Systems, Inc.

March 05, 2007 08:00 ET

Valley Oak Systems and Connecticut Interlocal Risk Management Authority Release Case Study on Award-Winning iVOS® Implementation

"One-System" Claims Management Solution Enables Enterprise-Wide Efficiency to Effectively Contain Claim Costs and Overhead Expenses

SAN RAMON, CA -- (MARKET WIRE) -- March 5, 2007 -- Valley Oak Systems, Inc., a national provider of claims management software, services and support, and Connecticut Interlocal Risk Management Authority (CIRMA), one of the largest, most sophisticated public entity risk management pools in the nation, today released a case study outlining their award-winning iVOS implementation. As a tribute to the project's innovation and measurable business impact, a distinguished panel of insurance industry experts awarded CIRMA and Valley Oak Systems with the 2006 Insurance Accounting & Systems Association (IASA) Technology Achievement Award.

"As our organization grew and matured, and our business environment became more complex, our operational needs exceeded our current system capabilities," said Bruce Wollschlager, President and CEO of CIRMA. "As a result, we developed a strategic automation plan, which outlined our infrastructure needs for the next 10 - 15 years. Since claims-handling is a major touch point with our members, finding a new system to streamline the claims operation became our first priority. iVOS had the modern technology, advanced features, and automated tools we needed to transition from a process-based response to a decision-optimized approach."

"Since the new claims system is browser-based, it allowed us to eliminate the need for middleware, such as Citrix, and ultimately, facilitated a more paperless environment," said Bruce Clinger, Vice President of Claims. "Now, our claims adjusters can work from the office, home, or the road. In addition, the 'one-system' design consolidated our 10 lines of insurance, as well as brought together our core systems, insurance functions, and various data. This integration enabled us to re-engineer workflow, boost adjuster productivity, and optimize performance."

"As CIRMA went through the iVOS implementation process, we worked with them to carefully re-configure each process, procedure, and workflow," said Randy Wheeler, CEO of Valley Oak Systems. "Leveraging the system's flexibility and customizable features, we helped CIRMA redesign its claims operation for optimal efficiency and quality control, and to achieve and support its future business objectives."

According to the case study, CIRMA was able to achieve the following benefits:

--  CIRMA kept its administrative expense ratio low at 13.6 percent,
    compared to the industry average of 22 percent.
--  CIRMA achieved an 11 percent subrogation rate, whereas the industry
    average is two to three percent. These subrogation efforts saved members $3
--  Using a call center, CIRMA's injury-reporting process cost an average
    $16 per claim, but with iVOS, web-based reporting will cost $3 per claim.
    With 22,000 claims a year, CIRMA anticipates significant savings.
--  CIRMA went from manual, labor-intensive preparation of its members'
    stewardship reports -- which took an average of three people two weeks to
    run, collate, and mail -- to Internet distribution through iVOS, making it
    more streamlined and cost-effective.
--  Due to the extensive member benefits it offers, CIRMA's retention rate
    is now at an all time high -- 97 percent for its Workers' Compensation
    pool, and 99 percent for Liability-Automobile-Property pool.
To download the complete case study, visit Valley Oak Systems' website:

About Connecticut Interlocal Risk Management Authority (CIRMA)

Initially formed in 1980 in response to the workers' compensation crisis, today CIRMA provides a comprehensive offering of coverage options, member educational opportunities, and consulting services. CIRMA's mission is to meet the risk management and risk financing needs of Connecticut municipalities and local public agencies. After 25 years, CIRMA's vision has been realized. It is now the definitive market leader in public entity coverage, serving 85 percent of the municipalities in Connecticut. For more information, visit them at

About Valley Oak Systems, Inc.

Valley Oak Systems, Inc. is a privately held corporation with headquarters in San Ramon, California. Founded in 1994, Valley Oak Systems is dedicated to providing the highest quality software, services and support to enable clients to meet their goals. The company's flagship product iVOS is a browser-based, "one-system" solution that encompasses claims management, risk management, medical bill review, policy underwriting, case management, billing, events management, and other related insurance functions for multiple lines of insurance. For more information, go to or call (925) 242-4600.

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