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olderthendirt
USA
370 Posts |
 Posted - 09/12/2002 : 21:22:58
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Will they need us in the future with all this technology? Again we are called a waste of money!
Press Release Source: Bluebook International
Insurance Industry Unnecessarily Wastes $40 Billion Annually in Processing Claims, Not Including Actual Payment of Claims, Due to Outdated Processing and
Practicing Standards
Thursday September 12, 8:29 pm ET
Bluebook International to Debut B.E.S.T.Net(TM) Insurance Industry Solution,
the First to Addresses Multi-Line Insurance Issues Specific to Redundant
Handling, Length of Time to Process Claims and More
Responding to what the insurance industry is calling an "infrastructure and technological catastrophe," Bluebook International (OTC Bulletin Board: BBIC - News) is scheduled to introduce B.E.S.T.Net(TM), an enterprise level insurance claims solution and its portal component B.E.S.T.Central in October. Designed for use in personal lines property and casualty, workers' compensation, liability and commercial property insurance, B.E.S.T.Net(TM) and B.E.S.T.Central(TM) will:
-- Synchronize and automate the status of each claim in minutes
-- Issue new assignments, provide updates, detail reserve specifics and
communicate productivity and risk allocation
-- Update pricing changes, messages, emails, documents and detect and stop
overpayments with its automated auditing system.
Under the current system of handling claims, it is estimated that .11 cents of every premium dollar the insurance industry spends is on the claims process alone, representing an aggregate annual expenditure of an estimated $40 billion, not including the actual payment of the claims.
B.E.S.T.Net(TM) and B.E.S.T.Central(TM) utilize Microsoft .NET technology and enterprise level software and hardware solution to connect carriers with millions of adjusters, agents, policyholders, contractors and other vendors worldwide to share critical business data to promptly settle each claim.
Mark Josipovich, CEO and President of Bluebook International, is available to discuss the following topics:
-- How B.E.S.T.Net(TM) will provide the property insurance industry with
global management, facilitation, productivity and cost mitigation.
-- Why the insurance industry has not yet fully embraced integrated
technology-based business processes.
-- The advent of recent technology breakthroughs that can literally save
the insurance and other industries billions of dollars each year that
can translate to significantly reduced premiums for both consumers and
commercial enterprises.
-- The five keys to reducing the first call in of a claim to final payment
that can result in a near revolution in the property insurance and
other industries by providing technology that will shorten the claims
process, audits nearly 100 percent of claims, enhance productivity and
better manage personnel and the hundreds of thousands of vendors that
work with and service the insurance industry.
-- The application of B.E.S.T.Net technology to other aspects of the
insurance industry such as Insured to Value and Vendor Qualification
and Services and to other non-insurance industry categories such as the
Real Estate Industry and the National Flood Insurance Program.
-- The growing recognition of Bluebook's technology and business model
applications as seen by recent strategic partnerships the company has
struck with Microsoft, Hewlett Packard/Compaq, Cisco, Cotelligent and
Intuit.
For 38 years, Bluebook International and its industry standard cost guide and software solutions have provided services and solutions for nearly 250,000 industry professionals in the insurance, construction and related services industries.
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What does this mean for the grunts in the field
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