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Press/Analyst Contacts
First Notice Systems and ptc-NET Form Alliance
to Streamline the Processing of Property Claims
Dispatching pre-qualified contractors at
first notice of loss reduces property damage claim costs and
helps policyholders at their time of greatest need
BOSTON & ATLANTA — July
15, 2002 — First Notice Systems, the leader
in claim reporting solutions to the insurance industry, and
Alacrity Services’ ptc-NET managed contractor network,
the leading structural loss estimating service and direct
repair program, today announced a strategic alliance that
unites the strengths of the two companies. The joint offering
lets policyholders choose a contractor to repair property
damage at the time they report their claims.
"As a client of both First Notice and ptc-NET, we’re
very excited to see that two of our key service providers
have combined their efforts," said Carlo Pugnetti, Vice
President, Claims, Fireman’s Fund Insurance Company.
"The ability to offer ptc-NET contractors to policyholders
when they report claims to First Notice will increase the
value of each service to our organization and will improve
customer service across the board."
Insurance carriers face many challenges to get policyholders
back to pre-loss condition. Without the option of selecting
a contractor at first notice of loss, policyholders are left
on their own to find means of repair, which often include
vendors spread across spectrums of price and quality of service.
Few carriers have the infrastructure in place to respond to
structural claims on a timely basis, including after hours
and weekends. And delays can be especially costly for certain
claim types, like water damage, that increase in severity
with time.
"Connecting our first-notice-of-loss callers with ptc-NET’s
highly selective contractor network 24 hours a day, 7 days
a week is a great example of two complementary services working
together for the benefit of clients," said Will Fulton,
president of First Notice Systems. "We have contact with
insureds at a critical point in time. The more integrated
our solution is at the time of loss reporting, the faster
insureds get back to pre-loss condition."
Another challenge for carriers is managing loss expenses
when so many different vendors across so many locations are
involved. By using a managed network of contractors like ptc-NET’s,
carriers immediately benefit from a pre-qualified network
of providers who have willingly agreed to conform to quality
procedures and pricing guidelines. In addition, since ptc-NET
contractors do their own estimating, a carrier’s claim
adjusters can handle more cases, reducing claim estimating
costs by 50%.
"Ptc-NET has cut carriers’ loss expenses and loss
adjusting expenses as a stand-alone service," said Warren
Erickson, president of Alacrity Services, the parent company
of ptc-NET. Since 1999, ptc-NET has produced more than 150,000
structural loss estimates and managed more than $320 million
in direct structural repairs. "Now, with First Notice,
our service is even more compelling since policyholders are
given an immediate choice of contractors who can arrive on
site within hours."
A Powerful Combination
When a policyholder reports a claim to First Notice, the
company’s web based claim intake platform, ClaimCapture™,
applies a carrier’s business rules to determine if the
caller qualifies for a ptc-NET contractor referral. Carriers
customize their referral criteria, including geography, loss
type and loss amount. First Notice then accesses ptc-NET’s
network, which includes 2,200 contractors throughout the U.S.,
to find contractors that meet the criteria. Policyholders
can elect to have a contractor visit the damage site and generate
an estimate without any obligation to use this contractor.
In emergencies, contractors follow up with policyholders within
1 hour and are on site within 4 hours. In non-emergency cases,
policyholders are contacted within 24 hours and visited shortly
thereafter. Once on-site, ptc-NET contractors create estimates
using pre-approved pricing guidelines and, if they complete
any repairs, guarantee workmanship for 3 years and materials
for 1 year.
The combined solution between ptc-NET and First Notice is
available for immediate implementation.
About First Notice Systems
Founded in 1993, First Notice Systems (www.firstnotice.com)
is the premier provider of claim reporting solutions to the
insurance industry. First Notice helps carriers, third-party
administrators and self-insureds receive first notice of loss
through a combination of full call center outsourcing, online
claims reporting services, and claims reporting software.
With headquarters in Boston, MA, First Notice Systems, Inc.
is a wholly-owned subsidiary of Concentra Inc., the comprehensive
outsource provider for containing healthcare and disability
costs.
About Alacrity Services
Alacrity, through its two products ptc-Net and APPE (Automated
Personal Property Evaluator) provides Web-enabled Business
Process Networks (BPNs) to support property claims organizations
as they build and connect internal claims processing with
external vendors and suppliers for improved supply chain management
and better claim results. Alacrity’s managed vendor
networks and technology platform reduce carrier payout and
adjusting expense while dramatically improving policyholder
experience during the servicing and settlement of claims.
In little more than 24 months, Alacrity’s initial product,
ptc-NET, has completed more than 150,000 individual claim
assignments and generated more than $320 million in structural
repair orders for its network contractors. |
