Price Waterhouse Unveils InVision, A Suite of Commercial Insurance Applications

Price Waterhouse LLP recently unveiled InVision, a suite of commercial insurance applications designed to meet the needs of insurers in the commercial (property & casualty) and workers' compensation markets. InVision's WCIS(TM) and PCIS(TM) applications have been implemented at some of the country's largest commercial insurers and workers' compensation state funds, providing rapid, accurate, and integrated information access across organizations. Key stakeholders have praised InVision for its ability to eliminate information redundancy, streamline business processes, and deliver a competitive edge.

Key Takeaways:

• InVision is a suite of commercial insurance applications that address information requirements in the commercial (property & casualty) and workers' compensation markets.
• WCIS(TM) (Workers' Compensation Insurance System) and PCIS(TM) (Property & Casualty Insurance System) are proprietary applications that have been implemented at some of the country's largest commercial insurers and workers' compensation state funds.
• WCIS and PCIS provide benefit-proven functionality, quicker and more cost-effectively than custom-developed solutions, and are built in an open systems environment utilizing Oracle's relational database management system.
• Both WCIS and PCIS use graphical user interfaces to facilitate ease of use and rapid user training, and are comprised of fully integrated subsystems that support a broad range of functionality.
• InVision's WCIS product is a market leader in the workers' compensation area and has been successfully implemented at several state funds, including those in Maryland, Colorado, Louisiana, West Virginia, Missouri, Kentucky, Ohio, and California.
• PCIS allows insurers to capture detailed information about programs, policies, injuries, and claims, enabling proactive management of safety and loss prevention programs.
• InVision's clients have praised the system for its scalability, flexibility, and cost-effectiveness, citing its ability to adapt to changing business processes and provide robust case management functionality.

Statistics:

• 14,000 employees in Price Waterhouse LLP, with 106 U.S. offices.
• 118 countries and territories covered by the worldwide network of Price Waterhouse firms.
• 90 days from project inception, the Missouri Employers Mutual Insurance Company (MEM) was able to enter and print production applications and policies using the WCIS product.
• The West Virginia Workers' Compensation Division (WCD) Executive Assistant to the Executive Director, Sam Bays, noted that the system allows for robust case management functionality, specifically fiscal and administrative controls.

Sources:

• Price Waterhouse LLP.
• IASA Insurance Conference in New Orleans.
• Karen Webster, 410-691-7316, or Mary Beth Brown, 703-644-7898, both of Price Waterhouse.