Freestone Insurance Company Selects PCIS CompVISION

Freestone Insurance Company Selects PCIS CompVISION

Built for workers’ compensation with rich out-of-the-box capabilities, CompVISION makes 45 day implementation possible

December 18, 2013 08:00 AM Eastern Standard Time

NEW YORK--(BUSINESS WIRE)--PCIS, a proven and trusted provider of policy administration and claims solutions, today announced that Dallas based Freestone Insurance Company (FIC) has selected PCIS CompVISION ®  as its new workers’ compensation platform. With an aggressive implementation timeline already underway, the new system is expected to go from kick-off to production in just 45 days.

“Key to our PCIS decision was their ability to deliver a content rich, fully configured workers’ compensation system. I can liken our previous experience of working with a DIY “custom”

Challenged with managing complex workers’ compensation policies across 44 states and 2 carriers, FIC was in need of a single solution to manage its full range of business. FIC chose CompVISION   with the confidence that it would deliver a fully configured system with efficient, integrated and optimized workflows, as well as the data consistencies the insurer needed.

FIC’s CEO Mark Carter noted, “We did a careful review of every system on the market that advertised it supported workers’ comp. From our first look at CompVISION we were impressed -- in the first demo PCIS showed us the system accurately rating and issuing our policies. The system’s capabilities combined with PCIS’s ability and willingness to contractually commit to our timeline made for a winning combination.”

PCIS is delivering CompVISION to FIC with all necessary workers’ compensation content, including state and bureau rates, rules, and forms. With PCIS providing full service, including product definition, FIC will be able to meet its short implementation schedule.

Commenting on the selection of CompVISION, Stephen Su, FIC’s Chief Underwriting Officer, said, “Key to our PCIS decision was their ability to deliver a content rich, fully configured workers’ compensation system. I can liken our previous experience of working with a DIY “custom” system with building a house and having my architect hand me a blank sheet of paper, hammer and nails with no guidance. With PCIS we get a solid blueprint with everything well thought out and vetted. If we want to make adjustments it is easy to do.”

Su also noted that all of these CompVISION   attributes translate to reduced risk and are invaluable when “failure is not an option.”

“We are very grateful to FIC for selecting PCIS. While CompVISION is highly configurable and therefore, customizable, there is a significant benefit to starting with a proven workers’ compensation framework. The rules, the rates, the forms are all loaded and optimized to run the business of comp correctly and efficiently,” said Georgette Loizou, PCIS Executive Vice President.

About Freestone Insurance Company

Freestone Insurance Company “FIC”, is a Property and Casualty (P&C) Insurance Company focusing in the Construction Industry. FIC offers general liability insurance coverage to artisan contractors, homebuilders, retailers, landscapers, and residential and commercial contractors.

To learn more about the Freestone Insurance Company, visit www.freestoneinsurance.com

About PCIS

For over 35 years, PCIS has teamed with our property and casualty insurance clients to develop easily integrated, knowledge-infused solutions. With in-depth knowledge of technology and real-world business requirements, PCIS understands the challenges of insurance carriers, self insureds and third party administrators.

To learn more about working together, visit www.pcisvision.com.

Contacts

Solomark Associates
Susan Douglas
[email protected]
847.895.2634