Larkspur, CA – Systema Software, LLC, a provider of claims administration software and services to the insurance industry, recently 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.”
Source: Systema