For Immediate Release
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HB GROUP goes live with enhanced version of Castek ClaimsPath
for P&C Claims
Online Communication Platform for Multiple Lines of
Business in Under 90 Days
TORONTO (November 4, 2002) — Castek Inc. announces that
it has developed and gone live with an enhanced version of its
online claims communication system, ClaimsPath, for HB Group Insurance
Management, Ltd. First implemented in June 2001 to manage auto
physical damage claims, HB Group adjusters are able to access
ClaimsPath via the Internet to manage claims for all property
and casualty lines including auto, property, and liability. ClaimsPath
allows for integration with any type of policy database, carrier-specific
application Web pages, and remote vendor set-up reducing customization
and implementation time.
“ClaimsPath has demonstrated measurable benefits in workflow
efficiency, severity, management information and customer service
in our claims operations,” says Dan Watchorn, Vice President
Claims and Operations at HB Group. “Because ClaimsPath provides
us with a common platform to communicate with all of our vendors,
the expansion to property vendors, and specifically our network
of contractors, seemed the next logical step.”
“This enhancement is an example of our commitment to working
with carriers on product development,” says Castek President
and COO, Pete Jones. “Through our collaboration with HB
Group, we’ve created a claims management tool that can be
fully customized and up and running in less than three months.
Castek is focused on providing products that bring real measurable
value to the insurance industry and provide our customers with
a measurable return on investment. Our newly expanded ClaimsPath
product does exactly that with customers realizing ROI in as little
as 90 days.”
ClaimsPath is an Internet-accessed application that connects
all service providers in the claims resolution process, from first
notice of loss to approval of invoices, for all lines of business.
It allows adjusters to connect and send assignments from their
desktop directly to service provider partners, and track and document
all communications, replacing the phone and the fax as the primary
communications tool in the claims handling process. The system
is customizable to a carrier’s individual claims workflow
and can be fully integrated with existing policy and claims systems.
Since June 2001 when the first claim was processed through ClaimsPath’s
collaborative communications network, over 170,000 transactions
involving approximately 10,000 claims have been processed through
ClaimsPath which now has over 350 participants including adjusters,
rental agencies, repair shops, property contractors, independent
appraisers, independent adjusters, contents providers, salvage
and other specialty suppliers.
About HB Group Insurance Management, Ltd.
HB Group Insurance Management Limited is a subsidiary of The Co-operators,
a group of wholly owned Canadian companies that specialize in
insurance and financial products, property development, and management
and investment counseling. The Co-operators group of companies
provides insurance protection to more than two million Canadians
and has assets of more than $4.7 billion. HB Group is headquartered
in Ontario and is the direct writing arm of The Co-operators,
overseeing group and individual customers for personal lines home
and automobile products. HB Group is a national company and services
$160 million in premium across Canada.
About Castek Inc.
Castek Inc. specializes in the creation of strategic business
software for P&C insurance. Recognized for the advanced architecture
and flexibility of its products that address key P&C insurer
business concerns, Castek provides carriers with a suite of core
business processing systems for insurance product and process
configuration, policy processing and claims management. For more
information, please visit www.castek.com or call 1-866-9CASTEK.
Contact:
Kelly Shanefelter
Martino & Binzer
(860) 678-4300, Ext. 222
kshanefelter@goodbait.com