New system reduces cost of ownership and risk for disability claims operations

Portland, ME, July, 15th, 2010

ClaimVantage, a global specialist in Life & Health insurance claims systems, today announced the release of a disability claims system built and run on the Force.com cloud computing platform to support disability claim intake, adjudication and payments on a monthly subscription service. In June, ClaimVantage signed contracts with two TPA’s (third party administrators) using the cloud computing platform to deliver disability claim management services to their customers.

The target market for this product includes insurance carriers, third party administrators and self funded organizations. The cost of delivery of a claim system has been prohibitive for small to mid-sized companies but with cloud computing, a company can implement a system within 45 days and pay a monthly subscription – you pay for what you use!

Remarking on the release of this innovative approach, Leo Corcoran, CEO at ClaimVantage noted, “This is a first for ClaimVantage in the Life & Health market where a company can implement a system ‘out of the box’ and start processing claims immediately. ClaimVantage has leveraged domain knowledge acquired over many years to design and deliver this product to the market. While our initial target market is small to mid-sized carriers, we are already receiving enquiries from large carriers that want to use cloud computing to automate one line of business.”

The ClaimVantage platform bridges the gap between the enterprise model for insurance carriers and an affordable cloud computing model for our three key markets. The new ClaimVantage system offers many benefits but the following are key differentiators:

  • ClaimVantage delivers industry best practice for claim operations ‘out of the box’.
  • Cloud computing delivers software to your desktop with no infrastructure costs.
  • Use intake Wizard to walk you through the claim intake process.
  • Built on the Force.com platform – the only proven enterprise platform for building and running business applications in the cloud.
  • Design and implement your unique business process within months, not years!
  • Sign up for the software and start using it immediately.

Cloud computing allows you to reap the benefits of enterprise class software without the burden of traditional ERP solutions. It provides the highest level of security for your data and allows your operation to deliver a service that is affordable scalable and reliable. Sign up today for a 30 day trial at www.claimvantage.com and start reaping the benefits.

About the Force.com Platform and AppExchange

Force.com is the only proven enterprise platform for building and running business applications in the cloud. The Force.com platform powers the Salesforce CRM (http://www.salesforce.com/) applications, more than 800 ISV partner applications like those from CA Technologies, FinancialForce.com and Fujitsu, and 160,000 custom applications used by salesforce.com’s 77,300 customers such as Japan Post, Kaiser Permanente, KONE and Sprint Nextel. Force.com also enables developers to make any enterprise app social by leveraging the social collaboration components including profiles, status updates, and real-time feeds available with Chatter.

Applications built on the Force.com platform can be easily distributed to the entire cloud computing community through the salesforce.com AppExchange 2 marketplace (http://www.salesforce.com/appexchange/), now featuring the ChatterExchange.

About ClaimVantage

ClaimVantage is a leading global specialist in life and health insurance claims systems. ClaimVantage brings expertise, experience and a proven solution that enables companies to better manage claim intake, adjudication and payment processing. For more information:
www.claimvantage.com

Company and Media Contact

Mr. Leo Corcoran
+1 (207) 781-3178
leocorcoran@claimvantage.com