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caseSHARE Selected as E-Fusion Awards Finalist for Executive Claims Summary System
News 2005
Denver Colorado--September 20, 2005--Catalyst Repository Systems announced today that their Executive Claims Summary System was selected as a finalist in the prominent A.M. Best E-Fusion Award competition. The E-Fusion award is presented to distinguish the most innovative uses of technology in the insurance industry each year. Catalyst's Executive Claims Management system is being used at AIG, the world's largest insurance organization, and will compete against six others in the Claims Management category.
The Executive Claims Summary System was designed for insurance companies to streamline the creation, distribution and review of executive claims summaries, one-page documents summarizing an insurer's largest cases. Catalyst delivered the first system to AIG, where more than 650 users, including adjusters and top executives, use the system to manage over 9000 claims. "In a short amount of time, we have replaced a largely paper-based business process with an electronic one," stated John Tredennick, CEO of Catalyst. "The system achieves our goal of helping organizations improve the efficiency of existing workflow, manage risk more effectively and provide improved service to clients." The former process for handling claim summary documents was manual and time-consuming. Adjusters prepared summaries in Word and printed copies which were faxed or mailed to a series of supervisors. Supervisors would review and approve the paper documents, then distribute to executives. Summaries approved at the executive level were bundled and provided to company presidents. Later, the bundles were stored in boxes and relevant claims information was found by searching page by page. Replacing the paper process with an Executive Claims Summary System provides insurance companies with rapid paybacks. Electronic workflow capabilities immediately increase the speed and efficiency of document processing, review and distribution. Files are uploaded and instantly delivered to the appropriate individuals. Email deliveries notify users that new files have been placed in the system. Data is handled in an external hosted environment which users can access from any location. Approved forms are electronically organized (bundled) for company presidents, and finished documents are easy to locate and search. Users become proficient with minimal training. Finalists will be reviewed at the annual E-Fusion conference in October. A.M. Best has invited key individuals from each organization to speak on the business significance of their project as well as the actual implementation, delivery and working of the system. John Tredennick of Catalyst will present on Sunday, October 16, and Monday, October 17 in front of judges. The 2005 E-Fusion conference is being held at the Hyatt Regency in Penns Landing, Pennsylvania. Award recipients will be announced on Tuesday, October 18. About A.M. BestA.M. Best offers comprehensive data to insurance professionals, and is known as the most authoritative source of insurance information. Founded in 1899 by Alfred M. Best, A.M. Best is the world's oldest source of insurance company information, ratings and financial performance. A.M. Best hosts the annual E-Fusion conference and events. For more information about A.M. Best or the E-Fusion events, please visit www.ambest.com or www.efusion2005.com. About Catalyst SystemsCatalyst provides secure content repository and collaboration applications that help cross-enterprise teams work together seamlessly to manage large document populations and complex matters. Oracle-based and delivered "On Demand," the systems offer a compelling alternative to enterprise software, particularly in cross-enterprise situations. Benefits include rapid deployment, world-class security, serious cost savings and minimal management. Clients include 50+ organizations from Catalyst's three target markets: legal, corporate and insurance. The Catalyst repository holds over 100 million pages of documents for almost 7,500 registered users. Contacts: John Tredennick Larry Barela General info:
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