Elios Inc. Wins Client, Commerce West, And Streamlines Lien Holder Notifications For Competitive Advantages.
Elios Inc., is revolutionizing one of the most time intensive and costly aspects of insurance claims processing. Major companies like Commerce West are buying Elios' Lien Holder Electronic Notification Services to boost productivity, realize significant time and cost savings, and improve their bottom line.
San Ramon, CA– April 10, 2003 – Elios, Incorporated, a leading provider of software for the financial services and insurance industries, today announced that Commerce West has selected Elios Power Search and Elios Transfer Utility 2.0 to streamline lien holder notification processing for competitive advantage. Commerce West joins a wide-range of more than 30 companies who are benefiting from increased productivity, time and cost savings by using Elios suite of lien holder and mortgagee electronic notification solutions to automate manual processes.
Commerce West is a leading provider of private and commercial passenger automobile insurance in California and Oregon with revenues totaling over 46 million per year. The company currently processes more than 10,000 lien holder notifications per month. Prior to selecting Elios Power Search and Elios Transfer Utility 2.0, Commerce West printed and mailed all of their notifications to lienholders.
Elios was an obvious choice for us because of the companys excellent industry reputation and solid technology," said Michael Vrban, CFO for Commerce West. Using Elios Power Search and Elios Transfer Utility 2.0 will allow us to increase return on investment as we eliminate time spent on printing and mailing notifications and re-direct our employees efforts towards more strategic, revenue generating activities such as issuing policies. We expect that Elios solution will help us save thousands of dollars per year in postage, printing and storage costs."
Elios ODBC-based Power Search 2.0 will allow Commerce West and its customers to obtain lien holder notification information and accurately update their own systems within seconds. Elios Transfer Utility 2.0 mitigates error, ensuring that only valid notifications are sent from Commerce West to Elios for processing and invalid notifications can be remedied immediately and resubmitted.
Commerce Wests selection of Elios solutions is a great endorsement of our technology and ability to squarely address the needs of todays insurers," stated Jordi Huguet, founder and CEO of Elios. The companys decision to implement our solutions fuels our ongoing commitment to help improve our customers bottom line, revolutionizing one of the most time intensive and costly aspects of insurance claims processing."
More About the Elios Suite of Lien Holder Notification Solutions
Elios Lien Holder Notification software suite, including Elios Power Search and Elios Transfer Utility 2.0 uses secure, 128-bit encryption FTP software and a 32-bit electronic signature unique to each Client to ensure privacy and eliminate costs associated with electronic data interchange (EDI). As part of its service package, Elios provides customers with installation, training and support on an ongoing basis.
About Elios, Inc.
Elios, Incorporated was founded in 1999 to address the needs of insurance and financial services' companies' back office operations, increasing efficiency and eliminating manual operations that are error prone, costly and difficult to administer. Using Elios Lien Holder/Mortgagee Notification Software and Services, a wide-range of insurance and financial services organizations enjoy considerable cost savings in personnel, administration, IT resources, and overhead. Visit online at www.elios.us or call 925-866-4131.
About Commerce West
Commerce West Insurance Company was incorporated in 1948 to provide personal automobile insurance to California drivers. Today, the company offers California and Oregon drivers through a network of 700 independent agents comprehensive protection, competitive rates, preferred claims service, flexible payment options and financial strength and stability. The company is rated A" (excellent) by A.M. Best, the most recognized insurance company rating organization in the world. The company is a member of the Commerce Group, Inc., a company with over $2 billion in assets and one of the largest property/casualty insurance companies in the United States.
For more information regarding Commerce West products and services, please contact a participating independent agent or call 800-244-1545.
# # #
Bookmark -
Del.icio.us |
Digg |
Furl It |
Spurl |
RawSugar |
Simpy |
Shadows |
Blink It |
My Web
|
