Equisoft, a digital business solutions provider for the insurance and wealth industries, announced Oct. 20 that it has delivered a SaaS claims (Software as a Service) solution for ivari. The new platform replaces ivari’s legacy system.
In an announcement, Equisoft stated that the core SaaS solution for insurance “is the first of its kind in Canada.” The new platform, based on the Oracle Insurance Policy Administration (OIPA) system, will support claims processing for ivari’s life, accidental death and critical Illness insurance products, including claims initiation, expense management, transaction ledgering, and claims settlement. Additionally, the platform will be integrated with the ivari reinsurance platform “to enable real‑time interactions between the two systems.”
Managing claims more effectively
“We pride ourselves on having the largest and most experienced OIPA integration team globally,” says Luis Romero, Equisoft founder and CEO. “So, we were ready when ivari entrusted us with the task of implementing the OIPA platform to manage their claims more effectively. We delivered the new system in only six months, which is far below the average timeline for such projects. This project is a very significant milestone for us, as it allows us to strengthen our presence in the Canadian insurance sector where we already have a solid client base.”