3i Infotech, a global provider of IT solutions and services, and ImageRight, the leading provider of insurance-focused content management and workflow solutions, are pleased to announce the formalization of a strategic business alliance. Collaboration between the two companies will provide integration of 3i Infotech’s Integrated Insurance Management System, PREMIA, with ImageRight’s content management and workflow solutions to help users achieve seamless transaction and information processing.
PREMIA provides a one-stop solution for rating, quoting, policy administration, billing, claims administration, reinsurance and MIS reporting. It also includes a complete web-based portal suite which empowers insurance companies to deploy self-service portals for agents, brokers, customers, employees and providers. Powered by Oracle, PREMIA is a proven and tested solution designed with years of experience and knowledge of the insurance industry.
“We expect this alliance to provide a huge benefit to the Insurance Industry,” said Sukirat Singh Kochar, Vice President (Insurance Practice) - 3i Infotech Inc. “Imaging systems are widely used today and it is often a cumbersome exercise for insurance companies to attempt to internally develop interfaces from scratch and maintain them. By providing a tested and ready interface between PREMIA and ImageRight, we have further enhanced our solutions portfolio, making us better equipped to service the insurance industry.”
ImageRight works hand-in-hand with policy, rating, claims and other core administration systems, such as PREMIA Integrated Insurance Management System, to make measuring and reporting on processes, productivity, and progress on particular tasks possible for all company users with the right authorities. The system monitors tasks in process, the time each task has been in the queue, the person assigned to each task, and the number of tasks completed or remaining. ImageRight facilitates straight-through processing (STP) by automating the transfer of insurance transactions, documents, and data to third-party administrators (TPAs), managing general agents (MGAs), carriers and agents.
“ImageRight has been growing steadily since our acquisition by Vertafore, Inc.,” said Don Elias, president of ImageRight. “We recently held a successful user group conference for over 900 client attendees, acquired Computers by Design as a subsidiary of the company, and in 2007 we signed more than 60 insurance organizations as new ImageRight customers through direct sales efforts and strategic alliances like the one just established with 3i Infotech. We are very pleased to now include 3i Infotech as a part of the ImageRight extended business alliance family.”
Since PREMIA consolidates the primary insurance functions into a single platform using a single technology, its integration with ImageRight will offer a truly comprehensive solution for the insurance industry.