NEW YORK–(BUSINESS WIRE)–PCIS, a provider of policy administration and claims solutions, today announced that XL Global Services, Inc., a subsidiary of XL Group plc (“XL”), has selected PCIS’s CompVisionTM to support XL insurance workers’ compensation business for multiple XL carriers in all 50 states, plus Guam and Puerto Rico. The CompVision solution will support quotations, rating, policy issuance and transactions, and both NCCI and non-NCCI reporting. The implementation is on track for production use in early 2012.
CompVision was selected in large part due to its design specifically as a workers´ compensation offering and its proven production use in a large number of states. Given the complex requirements, CompVision’s singular workers’ compensation focus provides a superior foundation and the flexibility to configure XL’s specific requirements.
XL’s CompVision implementation takes advantage of a PCIS developed integration layer that utilizes web services to access all of CompVision’s functionality. With this approach, XL will be able to seamlessly access CompVision functionality from any of its front-end applications.
The multiple business units within XL are currently utilizing a variety of technology platforms and operational workflows. Consolidating all workers’ compensation business to the common CompVision platform will provide:
- Improved IT and business operational efficiencies;
- Significantly reduced user manual interaction to issue a policy;
- Policy issuance in a fraction of the time currently required;
- Easy access from any location to current and accurate rates and information; and
- Advanced support for large deductibles, retrospectively rated policies, wraps ups and professional employment organizations (PEOs).
Commenting on the selection of PCIS and CompVision, XL Insurance Chief Executive, North America Property & Casualty Seraina Maag, said: “We did an extensive market search and early in our process determined that we wanted a vendor that really understood workers’ compensation and a solution that was designed specifically to handle comp’s unique requirements. Our actuaries were diligent in their evaluation and testing of the solutions under consideration, and they determined that PCIS and the CompVision solution were the best fit for us. We really put PCIS through the paces, including a three month proof of concept, and we couldn’t be more pleased with the system as well as the expertise of the PCIS staff.”
XL’s Enterprise Technology and Strategy Officer, Robin Arendt added: “Not only was CompVision a functional fit for us, but the technology and integration capabilities were also a good complement to our IT strategy and vision. With all of our workers’ compensation business supported on a single system, we can maximize the benefits for our users and take advantage of the IT operational efficiencies.”
“I would like to thank XL for selecting the CompVision solution and for their recognition of the value of our workers’ compensation expertise and focus,” noted Georgette Loizou, PCIS Executive Vice President. “Working with the XL team through the evaluation and the proof of concept was a great experience. They approached the project using a collaborative methodology that allowed each team member to be creative in adding value and new ideas – all with the goal of coming to the best possible solution. It was enjoyable, educational, and most of all highly productive for everyone involved. We look forward to continuing this collaborative approach as we roll out the implementation in all 50 states and two jurisdictions.”