Press Release
Virginia Municipal League Insurance Programs Automates Underwriting With NavRisk Policy
SAN FRANCISCO, Calif. - July 10, 2007 – DAVID Corporation an innovative provider of Insurance Risk Management software, today announced that Virginia Municipal League Insurance Programs (VML), a group self-insurance underwriter for towns, cities and counties in the state of Virginia, has upgraded and automated its underwriting system with DAVID’s NavRisk Policy. The new system will allow VML Insurance Programs to dramatically reduce the amount of time and duplicate input it takes to process policy administration and underwriting, resulting in better response times and servicing of its members.
“With the new NavRisk Policy system in place this month, we are hoping to take some of our processes down from hours to minutes”, said Steve Craig, Managing Director of VML Insurance Programs. “We have just completed the implementation phase and are excited to roll out an underwriting system that was completely tailored to how we do business. NavRisk Policy will save us time and improve the amount of information we can process and analyze in order to better service our members as they grow.”
NavRisk Policy combines deep expertise and understanding of public risk pools with standards-based rich client, browser-based and workflow technologies to deliver the only solution on the market that automates labor-intensive processes, streamlines access to information, and integrates and automates delivery of information for underwriters, administrators and brokers. As an end-to-end solution, NavRisk Policy automates the complete policy lifecycle including renewal processing, rating, certificates, quoting, invoicing and reporting.
According to Mr. Craig, although VML Insurance Programs’ customer base was stable, the customers themselves were growing by at least five percent per year and their assets and other resources, such as property values, had gone up 30 to 40 percent in the past six years. Due to trends such as this, the ever evolving insurance landscape demanded an increasing need for more detailed information. In order for VML Insurance Programs to stay ahead, they required a system that would automate manual processes and move beyond the limits of spreadsheets. With NavRisk Policy, for example, VML Insurance Programs can now input and analyze data in order to determine not only how many autos or employees a member has, but how many employees are in a particular building during any individual shift.
“With NavRisk Policy, we were not forced to work with a canned system,” said Mr. Craig. “We had a NavRisk Policy team that customized the program to our needs, as well as understood our business, thus could offer suggestions and improvements beyond what we imagined possible. The implementation process was thorough, the team responsive, and we’re excited as we begin using the system to upgrade our services to our members.”
“NavRisk Policy was designed to be easily customized to our clients’ unique business processes and workflow, and we are pleased to work with VML Insurance Programs as they employ NavRisk Policy to extend value to their members,” said DAVID President & CEO, Alex Aminian. “Beyond the technical synergies between DAVID and VML Insurance Programs, we appreciate their dedication to providing excellent service to their members and are delighted to work with them in a client-partner capacity.”
About DAVID Corporation
DAVID Corporation has been serving the Alternative Risk Market for more than 23 years. A pioneer in risk management software solutions, DAVID uses a solutions-focused, value-driven approach in selling to and servicing clients, with an eye toward reducing risk and controlling costs. DAVID’s solutions create a truly collaborative workspace for all stakeholders, designed with specific business rules and workflow in mind. From underwriting to policy renewals, from first notice of claim to final settlement, DAVID works with you to implement a solution designed to leverage your organization’s unique and innovative business processes. DAVID Corporation is headquartered in San Francisco, Calif. Contact DAVID at 800-553-2843 or visit www.davidcorp.com.
About VML Insurance Programs
VML Insurance Programs is comprised of the Virginia Municipal Group Self Insurance Association (VMGSIA) and the Virginia Municipal Liability Pool (VMLP). Membership is open to Virginia local political subdivisions. VMGSIA began operation on July 1, 1980 and provides workers' compensation coverage to more than 440 members. VMLP began on July 1, 1986 and currently provides property and liability coverage to more than 330 members. An elected Members' Supervisory Board oversees both programs, which is administered by the Virginia Municipal League.