Denver, CO – Sapiens International Corporation, (NASDAQ and TASE: SPNS) recently announced that its fully owned subsidiary StoneRiver, Inc.’s client, the Ohio Bureau of Workers’ Compensation (OBWC), has just completed its first year using StoneRiver’s PowerSuite® Enterprise workers’ compensation solution. OBWC provides insurance to approximately two-thirds of Ohio’s work force, so the implementation dealt with processing complexity, high volume and multiple integrations.
The StoneRiver enterprise solution deployed includes the PowerSuite Policy and PowerSuite Claims offerings to provide BWC with improved automation and efficiencies for its workers’ compensation policy administration, billing and claims management.
Commenting on the project with StoneRiver, Shadya Yazback, BWC’s chief of enterprise services, noted, “PowerSuite is our primary claims and policy management system, helping us handle millions of transactions annually.”
During its first year operating under the PowerSuite® system, OBWC created 122,000 claims, and processed 2.8 million medical invoices, 6.4 million policy transactions and made 1.1 million indemnity payments totaling $935 million.
“The Ohio Bureau of Workers’ Compensation was a significant implementation for us given the size, number of locations and users, and the multiple integrations involved. We couldn’t be more pleased with the results and look forward to continuing to partner with the bureau,” said Gary Anderson, head of P&C North America for Sapiens.