Valley Oak Systems, Inc., an Aon company and provider of insurance solutions, today announced that Workforce Safety & Insurance (WSI), North Dakota’s exclusive workers’ compensation carrier, has selected Valley Oak’s flagship iVOS solution as its new workers’ compensation system.
WSI will implement the claims management and policy administration components of iVOS, the “one-system” claims management solution that integrates core insurance processes, including medical bill review, policy underwriting, case management, billing, events management, and other related functions for multiple lines of insurance.
As the exclusive provider of coverage, all businesses in North Dakota are required to purchase workers’ compensation insurance through WSI. Leveraging iVOS, WSI anticipates significant efficiency gains and a potential savings of $2.7 million annually, as its team will be able to offer more effective claims management and loss control services.
“Even with our outstanding accomplishments, we’ve been hindered by a 10-year-old claims system that has no global architecture. Written in outdated code and requiring significant maintenance, it was basically the ‘burning platform’ that forced us to look for a new system,” said James Long, chief of Support Services at WSI. “Of the solutions we evaluated, iVOS is hands down the best claims system on the market, and it provides a truly ‘one-system’ approach, which means we’ll have claims and policy administration on one modern, browser-based platform. We’ll also be able to integrate our Optical Character Recognition (OCR) system, and offer online reporting of injuries to reduce paper by an additional 10 percent.”
Source: Aon Corp.