Ravello Solutions Announces Acquisition of KLJ Computer Solutions Inc. Claims Management Technology

16 January 2009

Ravello Solutions announced today the acquisition of KLJ Computer Solutions Claims Management Technology. The acquisition, which closed last year, puts Ravello in a position to provide solutions for the entire insurance workflow spectrum. With the purchase of this technology, Ravello Solutions now has the functionality to manage the entire policy lifecycle, including policy administration, billing and claims. The policy, billing and claims solutions were completely integrated prior to the acquisition and provide seamless functionality to users. This solution suite is entirely web-based and built on a flexible, modern, standards-based architecture that provides a real-time communication and workflow process that users describe as "extremely easy to use."

Ravello Claims is a well established product and is in production in over 40 companies globally including the United States, Canada, Jamaica, the Middle East and Australia. It is a multi-line business solution that covers all property and casualty lines.

Jason McGrath, who served as the President of the acquired company, has joined the Ravello team as part of the acquisition. He will oversee Ravello Claims and will work with the rest of the Ravello team to further develop Ravello's technology leadership. Mr. McGrath will serve as President of Ravello Claims and Chief Technology Officer of the entire firm.

"We searched for years for the right claims partner and were thrilled to find this technology" says Andrew J. Serowitz, President and Chief Operating Officer of Ravello Solutions. "The acquisition takes one of the best claims solutions available and marries it with one of the best policy administration systems, providing the industry with a tremendously powerful and flexible solution."

"The claims solution is highly configurable via its comprehensive rules and tool set. We have already started moving this extremely powerful toolset into our policy solution. Additionally, we are very excited to have Jason McGrath on board. Jason is a visionary whose technical expertise and track record is truly remarkable. Industry analysts have identified only a handful of companies that possess the technology and vision to address the complex and ever changing technology needs of the insurance carrier. Ravello Solutions is now a company who can uniquely accomplish these tasks with an out-of-the box solution."

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