Wholly Owned Subsidiary Of Blue Cross And Blue Shield Of Florida, Optacomp Chooses Pcis In Large Part Due To Pcis’ Expertise In Workers’ Compensation
NEW YORK – (BUSINESS WIRE) – –PCIS, a proven and trusted provider of policy administration and claims solutions, today announced that OptaComp, a wholly owned subsidiary of Blue Cross and Blue Shield of Florida, has selected both CompVision and POSVision to support its workers’ compensation business. The implementation is currently underway with an aggressive 90 day project, currently on track for production use in first quarter 2011.
OptaComp selected PCIS in large part due to PCIS’ proven business expertise in workers’ compensation, combined with the solutions’ breadth and depth of workers’ compensation functionality. With CompVision, a policy administration system designed specifically for workers’ compensation, and POSVision, PCIS’ agent facing quotation and rating application, OptaComp will have the integrated solution needed to support the company’s aggressive growth strategy.
“Our previous policy administration system was far too limiting and required a good deal of manual processing within and between departments. In order to support our strategic plan to grow the business, we knew we needed a much more functional and better integrated system going forward,” said Bob Stolp, IT director with OptaComp. “While we evaluated almost every vendor and solution in the workers’ compensation market, once we looked at PCIS and CompVision we immediately recognized PCIS’ depth of workers’ compensation knowledge and the system’s rich workers’ compensation specific design and functionality.”
OptaComp’s director of marketing and underwriting, Sandi Pinckard, added, “We looked for more than just a software solution, we wanted to find a vendor who understood workers’ compensation and could support our growth goals of today and the future.”
“We are very excited to be working with an outstanding organization like OptaComp,” commented Georgette Loizou, PCIS Executive Vice President. “Especially gratifying to the PCIS team is OptaComp’s recognition of our workers’ compensation expertise – both in the design and functionality of our solution as well as the knowledge of our people. Our teams are working side-by-side to ensure a successful implementation that meets OptaComp’s 90 day timeline.”
CompVision is a powerful and integrated 50-state quote, rate, policy issuance, policy administration, claims management and premium accounting system. The system provides control of underwriting parameters guarantees compliance with regulatory and corporate policy standards.
POSVision is a point of sale system which allows agents to work multiple quotes, retrieve instantaneous rating results, print or send emails of draft quotations and communicate with an underwriter instantly. Agents simply upload an ACORD form from their agency management system and CompVision’s policy management system is automatically updated. The system is out of the box for workers’ compensation and can be modified to handle other LOBs.
Comp Options Insurance Company, Inc., dba OptaComp, a wholly owned subsidiary of Blue Cross and Blue Shield of Florida has successfully provided workers’ compensation products and administrative services to Florida employers for more than 12 years. Throughout the past decade, OptaComp has demonstrated unprecedented success in workers’ compensation program management, addressing the changing marketplace and needs of Florida’s employers. Its criteria and principle-based workers’ compensation model consistently drives immediate and long-term positive human and financial results. For more information visit www.OptaComp.com.
Established in 1978 and headquartered in New York, P&C Insurance Systems, Inc. (PCIS) is a proven and trusted provider of comprehensive policy administration and claims solutions to the property and casualty insurance industry. With an in depth knowledge of both technology and real-world business requirements, PCIS has earned a leadership position in the workers’ compensation market, in addition to a strong market footprint among a broader range of carriers, MGAs, TPAs, and member-based organizations. For more information visit www.pcisvision.com or call 212.425.9200.