Edgewater Technology and ISO Expand Business Alliance
WAKEFIELD, Massachusetts, July 26, 2011 – Edgewater Technology, Inc. (“Edgewater,” NASDAQ: EDGW, http://www.edgewater.com
), and ISO (www.iso.com
) have announced an expansion of their business alliance to include Edgewater’s integration services for wcPrism®, ISO’s comprehensive suite of data management, compliance, and analytic solutions for workers compensation.
Edgewater Technology, a long-standing ISO implementation and integration partner for ISO Rating Service®, is proud to add wcPrism to the list of ISO products and services it can offer customers. The wcPrism suite is an extension for Edgewater’s property and casualty (P&C) customers offering workers compensation coverage to their commercial insureds.
For carriers, wcPrism automatically handles the reporting of claims (FROI/SROI), Unit Statistical Reports, Medical (NCCI & IAIABC), Aggregate Financial Calls, Policy Reports, and Detailed Claim Information (DCI) from a single transactional data feed. In addition to compliance reporting solutions, the wcPrism suite also includes sophisticated analytic cubes to provide carriers with a clear picture of their operations from both a claims data perspective and a compliance reporting perspective for the identification of business trends.
“We’re pleased to continue our work with ISO and to strengthen a relationship that has provided significant value to the property and casualty insurance industry,” said Stacey Cheese, Edgewater Technology’s insurance practice director. “Carriers benefit from Edgewater’s integration expertise with improved efficiency in workflow and seamless compliance reporting, especially now that many states are requiring full electronic data submission.”
“Responding to compliance reporting requirements puts a tremendous strain on carriers’ resources, and many struggle with accurate and timely reporting,” said Michael D’Amico, assistant vice president, ISO Workers Compensation Information Services. “The wcPrism suite was designed to help carriers automate their compliance reporting systems and seamlessly respond to changing regulatory requirements, easing their reporting burden as states ramp up their use of electronic reporting. Through our relationship with Edgewater, we’re happy to be able to offer the carrier community an experienced implementation specialist as an option for integrating wcPrism services into their operations.”
Edgewater is a strategic consulting firm that brings a synergistic blend of advisory and product-based consulting services to our client base. Headquartered in Wakefield, MA, we typically go to market both vertically by industry and horizontally by product and technology specialty and provide our clients with a wide range of business and technology offerings. We work with clients to reduce costs, improve process and increase revenue through the judicious use of technology. Edgewater provides services under brand names such as Edgewater Technology, Edgewater Ranzal, Edgewater Fullscope and Edgewater SAP. To learn more, visit www.edgewater.com
or call 800-410-4014.
Since 1971, ISO has been a leading source of information about property/casualty insurance risk. For a broad spectrum of commercial and personal lines of insurance, the company provides statistical, actuarial, underwriting, and claims information; policy language; information about specific locations; fraud-identification tools; and technical services. ISO serves insurers, reinsurers, agents and brokers, insurance regulators, risk managers, and other participants in the property/casualty insurance marketplace. ISO is a member of the Verisk Insurance Solutions group at Verisk Analytics. For more information, visit www.iso.com