SAN FRANCISCO, April 18, 2016 /PRNewswire/ -- DAVID Corporation, Inc., a San Francisco-based insurance technology firm, is pleased to announce its new cloud-based Hospital and MPL Software covering Policy and Claims. The software helps the healthcare industry reduce cost per claim, cut policy administrative costs in half and recognize significant operational savings.
NAVRISK VISION MPL has been shown to provide proven results, such as:
- Helping reduce renewal time to process a policy by at least three (3) hours per policy
- Significant reduction in FTE processing time
- Reducing new business processing by ~45 minutes per policy
- Savings in excess of $90K per year as a result of reduction in renewal processing and the savings in process time for new business
- Policy issuance process savings of at least $30K per year, depending on scope
NAVRISK Policy MPL provides an intuitive end-to-end policy administration platform including provider and education tracking, reporting, loss control, flexible rating, diaries, contact and address/location management, and a fully configurable Member/Agent Portal. It automates labor-intensive underwriting processes by focusing on removing data redundancy, streamlines access to information and delivers information to executives, underwriters, and agents by utilizing built-in workflow and intelligent hierarchical design. It tracks all lines of business for all states and automates rating and allocation, certificates, quoting, invoicing, reporting, renewals, endorsements and more.
"Our new cloud-based hospital and MPL solution is changing the rules for modern policy and claims administration systems in the healthcare industry," explains Mark Dorn, DAVID Corporation President and CEO. "Developed with provider and locations as its center point, NAVRISK VISION Policy MPL facilitates claims made and occurrence-based policy coverage, and the accompanying support of Specialty Insurance Lines. NAVRISK VISION Policy MPL supports workflow that streamlines the complete policy administration process from quoting to policy issuance. A user can efficiently process tail quote and issuance for a single provider or an entire line of coverage with premium appropriately allocated to each risk with ease."
"Because we offer one platform for policy and claims, our clients no longer need to spend days aggregating data for claims and policy for insured reporting and board meetings. It's a real game-changer for Policy Administration Systems in the healthcare industry," adds Michael Hamann, Vice President of Product Development.
NAVRISK VISION MPL is available now and is offered as either a SaaS or On-Premise based solution.
About DAVID Corporation
DAVID Corporation has a 31-year history as one of the premier technology companies servicing the risk, claims and insurance markets. The company has one of the longest-serving uninterrupted independent commitments to clients in the industry. DAVID Corporation provides proven products, comprehensive technology and best practices that help clients reduce their total cost of risk as well as solve challenges in claims administration, underwriting, rating, policy management and reporting.
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SOURCE DAVID Corporation, Inc.