MEMIC Replaces Legacy Claims System with Insurity Platform for Core Processing, Regulatory Reporting and Digital Enablement

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Carrier to adopt Insurity ClaimsXPress Solutions

HARTFORD, Conn.--(BUSINESS WIRE)-- Insurity, Inc., a provider of a leading insurance platform that includes policy, billing and claims solutions, data analytics and digital enablement, announces that The MEMIC Group will adopt the company’s ClaimsXPress solution. MEMIC, which wrote over $380M in Direct Written Premium in 2017, is a workers’ compensation insurer with $1.3 billion in assets that serves over 21,000 employers in every state across the country. The integrated platform will overhaul core processing, streamline regulatory reporting, and improve the accessibility and processing of their data for better decision making.

MEMIC’s claims system was based on legacy technology that was becoming increasingly difficult to update and required significant manual processes. Leveraging Insurity’s platform, the insurer will improve internal workflow and have the latest regulatory data populated into its systems.

“As a result of MEMIC’s steady growth, and the changing demands of the marketplace, we have outgrown our legacy claim system. After conducting an extensive search, we are pleased to be partnering with Insurity as we move forward with a new core platform,” says Matt Harmon, SVP of Claims at MEMIC. “We expect that ClaimsXPress will generate immediate efficiencies across the claim operation through improved workflows and more productive connections with our various vendor partners. The system will also allow for better decision making and claim outcomes through the use of data analytics.”

The Insurity platform supports modular deployment of solutions, allowing insurers to approach digital transformation at their own pace and interface with a wide range of industry data sources, enabling them to respond to market conditions and make changes quickly and efficiently.

“We continue to see insurers replacing their disparate core systems in favor of one integrated platform that improves operations and is a crucial component in completing a digital transformation,” says Michele Shepard, Chief Revenue Officer at Insurity. “By adopting our solution, MEMIC will simplify their business, improve speed-to-value and be able to act on information more quickly and intuitively.”

For more information on the Insurity platform and their solutions, visit www.insurity.com.

About MEMIC

The MEMIC Group includes MEMIC Indemnity Company, MEMIC Casualty Company, and parent company Maine Employers’ Mutual Insurance Company; all rated “A” (Excellent) by A.M. Best. As a super-regional workers’ compensation specialty insurer, The MEMIC Group holds licenses to write workers’ compensation across the country. The group insures more than 21,000 employers and their estimated 300,000 employees and holds more than $1.3 billion in assets. The group maintains offices in Manchester, NH; Glastonbury, CT; Albany, NY; Weehawken, NJ; West Conshohocken, PA; Tysons Corner, VA; and Tampa, FL; in addition to its headquarters in Portland, ME.

About Insurity

Insurity, Inc. offers innovative and flexible insurance technology that allows clients to meet their business goals and offer a simplified experience. With the market’s most advanced cloud operations, Insurity’s platform offers scalable, highly secure and reliable solutions that increase speed to value. Insurity’s solutions and deep understanding of the insurance business address the needs of all carriers – from the Top 20 insurers to small or regional commercial, personal, or specialty lines writers, as well as MGAs. For more information, visit www.insurity.com.