(Sailboats on Long Island, home of Vision Risk Services. Photo credit: Knotnic.)
Vision Risk Services, LLC, a Long Island, N.Y.-based third-party administrator (TPA), has selected P&C Insurance Systems’ (PCIS) ClaimsVISION claims system for workers’ compensation, general liability, and auto lines of business, delivered on a software-as-a-service basis.
Through the ClaimsVISION implementation, Vision Risk will be able to offer its clients intelligent data analytics and industry leading compliance automation, according to PCIC. Vision Risk selected PCIS’ offering on the basis of its superior technology for use by a TPA, according to the vendor’s statement. PCIS’ expertise in the New York self-insured market—including the vendor’s history with complex public entities such as New York City—was another important selection factor. PCIS’ expertise and ability to interface with the New York Workers’ Compensation Board (NY WBC) was essential and the proprietary No Touch FROI/SROI (EDI) reporting was a leading contributor to the Vision Risk decision, the vendor explains. PCIS says that the system’s scalability was also a factor as the TPA looks to achieve aggressive growth and needed a system that could easily accommodate.
“ClaimsVISION’s 100 percent automation of FROI/SROI reporting is a game changer,” comments Angela Pannell-McDermott, president, Vision Risk. “While many vendors say they interface with the WCB for EDI reporting, the difference with PCIS was that our adjustors never have to know when to trigger a SROI being sent or add information. The system does it all for them. They are already automatically sending the WCB (of New York) the FROIs and SROIs for the largest public entity in the state, and we felt that our municipal clients could benefit greatly with the same solution.”
Al Levy, VP and managing director, Vision Risk, emphasizes that many criteria influenced the selection. “Not only is the system an ideal fit for our needs, but the expertise of the PCIS staff when it comes to the New York market and our lines of business is unmatched,” he comments. “We look forward to a long and mutually beneficial relationship.”
In addition to a more efficient and TPA grade system, anticipated benefits from Vision Risk’s deployment of ClaimsVISION include the following, according to PCIS:
- Scalability while continuing to deliver the quality hands-on service Vision Risk clients expect;
- Efficient FROI/SROI resulting in reduced reliance on the state’s Workers’ Compensation Board eCase electronic case folder;
- Flexibility and growth by leveraging a hierarchy that makes the addition of new clients and data easy to manage;
- An advanced policy management module to handle coverage and aggregates/limits.
“This is a very satisfying win for PCIS given that Vision Risk has recognized that our ClaimsVISION offering is a proven solution, truly TPA grade and able to handle the complexity and growth of their business,” comments Georgette Loizou, PCIS executive vice president. “We also appreciate the value Vision Risk sees in our expertise in the New York market and municipalities in general. We are confident that the skills and knowledge of our staff combined with our ClaimsVISION solution are the best fit for Vision Risk today and well into the future.”