SAN FRANCISCO, March 14, 2016 /PRNewswire/ -- DAVID Corporation, Inc., a San Francisco-based insurance technology firm, is poised for another year of significant growth in 2016, coming off a year of remarkable increases within the company.
According to Mark Dorn, DAVID Corporation President and CEO, business revenue growth exceeded 40% in 2015, the result of stellar new and add-on client software sales growth, increases in SaaS revenue of more than 125%, and increases in professional services for customization and project management from cloud-hosted sales of more than 100%.
DAVID Corporation signed 12 NAVRISK client projects in the fourth quarter of 2015 alone, representing multiple major industry segments, including Government and Fortune 500 companies, among many others.
"These outstanding sales figures clearly demonstrate a continued forward motion for DAVID Corporation, propelled by the launch of several new cloud-based software offerings for the risk, claims and insurance markets, as well as the stability of the products already in use by our clients," Mark Dorn said.
"Our SaaS revenue growth from cloud-hosted sales increased tremendously during 2015, representing that our clients are excited about having low cost safe hosting capabilities for risk and claims management. We are equally excited about the success of NAVRISK VISION Analytics, the industry's first risk performance optimization RMIS program which we just launched."
NAVRISK VISION integrates claims, policy, underwriting, rating, risk management and reporting into one comprehensive solution. The program can be licensed or hosted as cloud application and helps clients reduce their claim costs, respond to regulatory compliance needs and achieve significant operational savings through automated workflow and the use of a sophisticated business rules engine.
"The market is looking for high quality support and personalized service. I think our 2015 success and 2016 momentum reflected the value of investing in our staff and financial resources focused on those key areas," added Andrew Abela, Client Support Manager.
DAVID Corporation has a 31-year history as one of the premier trusted resources for insurance technology solutions 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.
SOURCE DAVID Corporation, Inc.