Combination of Perspecsys Cloud Data Protection and ClaimVantage Claims Processing Empowers Customers with a Modern, Secure Infrastructure for Insurance Claims Automation
McLean, VA, October 13, 2014 — Perspecsys, the leader in enterprise cloud data control protection gateway solutions, today announced that it has partnered with ClaimVantage, a leading provider of insurance claims processing applications. The combination of the Perspecsys AppProtex Cloud Protection Gateway and the ClaimVantage Cloud-based Claims Management solution enables customers to harness the power of the cloud, while ensuring the highest possible security of sensitive customer and policy information.
Via the use of encryption and tokenization technologies, the strongest available for cloud data control, Perspecsys AppProtex bolsters ClaimVantage’s ability to more securely provide faster, anywhere access to claims processing in the cloud, helping streamline the entire claims process for insurers, employers and third-party administrators. In this joint offering, the AppProtex Gateway intercepts sensitive ClaimVantage customer data, while it is still on-premise, and replaces it with random tokenized values, rendering it meaningless should anyone outside of the company access the data while it is being processed or stored in the cloud.
“As cybercriminals find new and inventive ways to access sensitive data, employing both tokenization and encryption technologies to add another layer of protection for data residing in the cloud is all the more essential,” said David Canellos, president and CEO, Perspecsys. “Often containing personal customer information, from social security numbers to life insurance premiums, the need for insurance industry applications to have bulletproof security is driving organizations like ClaimVantage to partner with Perspecsys to secure mission-critical data in the cloud.”
“Security is a critical component of our claims management solution, and we have evaluated a number of cloud data protection technologies during the past several years,” said Leo Corcoran, CEO, ClaimVantage. “We evaluated a number of solutions, but chose Perspecsys as it enables us to protect customer data with the strongest security without having to compromise the integrity and functionality of the ClaimVantage application. This helps our customers comply with industry regulations, while empowering users to maximize productivity and improve outcomes through the use of our claims processing solutions.”
The ClaimVantage application is based on the Force.com cloud development platform, simplifying the integration of claim processing functions across decision-making environments, reducing costs and improving scalability. Perspecsys AppProtex provides monitoring and reporting on cloud application usage while intelligently indexing encrypted and tokenized data. This preserves cloud application functionality, such as searching or generating reports, on protected insurance claims data. The combined offering provides a powerful claims processing application with the highest levels of security.
ClaimVantage provides Life, Health and Absence claim management software products to Insurance carriers, TPA’s, and employers, including two of the top 3 carriers in Canada, and two of the top ten carriers in the US. The company, with offices in Portland, Maine and Dublin, Ireland, provides efficient, accurate, and productive claims processing and absence management solutions to a wide-range of Insurance Companies, Third Party Administrators (TPAs), and employers. For more information about ClaimVantage, visit www.claimvantage.com and follow us in Twitter @ClaimVantage.
About Cloud Data Protection Provider, Perspecsys
Perspecsys Inc. is a leading provider of cloud data protection solutions that enable mission critical cloud applications to be adopted throughout the enterprise. Perspecsys gives organizations the ability to understand how employees are using cloud applications and take the necessary steps to protect sensitive information before it leaves the network. By removing the technical, legal and financial risks of placing sensitive data in the cloud, Perspecsys makes the public cloud private. Based in Toronto, Perspecsys Inc. is a privately held company backed by investors, including Intel Capital, Paladin Capital and Ascent Venture Partners. For more information please visit www.perspecsys.com and follow us on Twitter @Perspecsys.