Irish company in Canadian insurance deal

25 Oct 2007

An Irish software company focusing on the claims management segment of the life and health insurance market has landed its first major North American deal with Canassurance Blue.

Canassurance Blue, which trades in the Ontario and Quebec regions of Canada as Croix Bleue du Quebec, has a 70-year track record in travel and health insurance.

The company has selected ClaimVantage, headed up by Irishman Leo Corcoran, to deliver a new claims platform to support disability and life claims.

Canassurance Blue Cross is a leader in the travel insurance market in Canada. “Flexibility to support our customers is very important to us. Our partnership with ClaimVantage will ensure that we remain a leader in our market and provide superior claims services to our customers” says Marc Lamirande, vice president of Canassurance Blue Cross.

The new platform will consist of ClaimView and ClaimPay and will be integrated with open source rules and workflow.

Corcoran, who is CEO at ClaimVantage, said key benefits of the platform will be reduced customised code and improved speed to market with new products.

“According to a recent claims survey only 30pc of respondents said they can react to immediate market changes with existing systems”, said Corcoran.

“Canassurance Blue Cross requires a system that can that can be supported internally so that market changes and new insurance products can be supported quickly — this is key to maintaining a competitive advantage in the market,” Corcoran added.

By John Kennedy