NU Online News Service, June 25, 12:21 p.m. EDT
Insurance Accounting & Systems Association and Ward Group said they have awarded Missouri Employers Mutual Insurance Company (MEM) the 2009 Technology Achievement Award.
MEM was given the award, it was explained, for their achievement in replacing the company's core care claims administration system with the help of Guidewire and HCL Technologies.
MEM, along with Guidewire and HCL, replaced their core claims systems with Guidewire's Claim Center, leading to significant benefits, said IASA.
The new system provided a 16.8 percent return on investment compared to the expected return of 12 percent, which led to significant savings from medical care discounts and utilization management, reduced handling costs of medical bills, created more efficient staffing, and provided better services to injured workers, according to IASA.
MEM was chosen by a panel of judges including representatives from the Insurance Services Office, Insurance Data Management Association, TowerGroup, Insurance Networking News, Novarica, Strategic Marketing Affiliates, The Tech Consultant and Ward Group.
The award was presented June 8 at the 2009 IASA Annual Conference & Business Show in Orlando, Fla.
IASA is a non-profit education association based in Durham, N.C. Ward Group is a Cincinnati consulting firm,
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