Cambridge, MA (April 2, 2004) - Delphi Technology, Inc. (DTI), the leading provider of technology solutions to the professional liability insurance market, announced today that NIP Group, LLC has signed a contract to employ DTI’s software and services. NIP Group, LLC, based in New Jersey, has purchased DTI’s OASIS Policy, Financial, Claims, and Risk Management software.
NIP Group, LLC, through its subsidiary NIP Management Company, LLC, is the attorney-in-fact for Conventus Inter-Insurance Exchange ("Conventus") and provides the operational infrastructure for Conventus. Conventus is a physician owned and physician governed physicians’ professional liability insurer serving New Jersey doctors. Conventus began writing insurance in December 2002 and has rapidly become a significant participant in the New Jersey physicians’ professional liability insurance market. The implementation project, which was recently kicked off, is expected to culminate in a "go live" date about six months from now.
NIP Management Company, LLC has indicated that they found OASIS to have the most comprehensive and mature functionality on the market. As a newly founded company, they also wanted to tap into DTI’s extensive industry knowledge and use the same technology as the industry leaders.
Greg Tupe, CFO for NIP Group, LLC, noted, "We chose OASIS because it will give us the complete set of tools, in an easy-to-use system, to efficiently manage the rapidly growing operations of Conventus."
Robert Drake, Vice President of Sales at DTI, stated, "We are very pleased to welcome NIP to our team. We’re looking forward to imparting our industry knowledge as this promising company grows their business."
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