LANSING, Mich., Oct. 24, 2012 /PRNewswire/ -- Accident Fund Holdings, Inc. recently received a 2012 Innovation Award from insurance software provider Guidewire Software, Inc. Innovation Awards are given to companies that best demonstrate innovative and value-added use of the Guidewire Insurance Suite™ products. Each winning company earns the recognition based upon its innovative use or implementation of Guidewire's policy, billing or claims applications, resulting in key business value delivered to their respective organizations.
Accident Fund was one of three Innovation Award winners, with the other two being The Hanover Insurance Group, Inc. and Jewelers Mutual Insurance Company. The awards were organized into three categories: Process Innovation, Product Innovation and Service Innovation. Accident Fund won in the Process Innovation category. The award was presented at Guidewire's Connections 2012 Conference in San Francisco, Calif. on Oct. 23, 2012.
"It's a huge honor to receive this award and it is truly reflective of the hard work of our claims representatives, risk case managers and operating companies," said Jeff White, director of Medical Management Practices and Strategy for Accident Fund Holdings. "This is a major accomplishment of custom software development to meet our business needs and improve efficiency while also giving us a competitive edge."
Accident Fund Holdings implemented a cost containment program with a specific focus on using technology to optimize claim outcomes. Essential to the success of the program was the seamless integration of external data sources within ClaimCenter and the use of medical informatics to trigger activity-driven workflows.
Through custom configuration of ClaimCenter, Accident Fund Holdings' operating companies can monitor the treatments and medical providers in near real-time. Claims adjusters are now able to identify experienced occupational medical providers and focus care when possible to ensure a timely and productive return to work for its injured workers. The final solution is an early warning system that helps drive injured workers to the right care at the right time.
Benefits of the program include early identification of high-risk claims, improved policyholder satisfaction, and in some cases, a reduction in claim costs in excess of 20 percent.
For more information about Accident Fund Holdings Inc., visit www.afhi.com.
Accident Fund Holdings, Inc.
Accident Fund Holdings, Inc. is a workers compensation insurance holding company conducting business through four operating units: Accident Fund Companies, located in Lansing, Michigan; United Heartland, located in New Berlin, Wisconsin; CompWest, located in San Francisco, California; and Third Coast Underwriters, located in Chicago, Illinois. Its insurance company subsidiaries are rated "A-" (Excellent) by A.M. Best. Accident Fund Holdings is a wholly-owned subsidiary of Blue Cross Blue Shield of Michigan. For more information, visit Accident Fund Holdings' website at www.afhi.com.
SOURCE Accident Fund Holdings, Inc.