Nevada Mutual Insurance Company Selects 3i Infotech's PREMIA(TM).3i Infotech's Insurance Management Solution to Streamline Medical Malpractice Improper, unskilled, or negligent treatment of a patient by a physician, dentist, nurse, pharmacist, or other health care professional. Lines for Casualty Mutual Insurer EDISON, N.J. -- 3i Infotech (www.3i-infotech.com), a global provider of IT solutions and services, today announced that Nevada Mutual Insurance Company (NMIC NMIC National Meat Inspection Commission (Philippines) NMIC National Maritime Intelligence Center (Office of Naval Intelligence, Suitland, MD) NMIC Northern Manhattan Improvement Corporation ) has selected PREMIA[TM] to administer the medical malpractice insurance lines it provides to its members. Proving a robust and customizable architecture, PREMIA offers a pre-configured, scalable solution to help insurance carriers more effectively manage data across their internal and external operations. NMIC will use PREMIA in conjunction with PREMIA Collaborator, a secure, self-service Web portal See portal. that provides physicians with the ability to print out insurance certificates, loss summaries and policy information. NMIC is the largest insurer of medical professional liability coverage for physicians, surgeons and allied healthcare providers in Nevada. To meet the demands of its growing membership, NMIC needed a modular and scalable solution to optimize optimize - optimisation its data processing data processing or information processing, operations (e.g., handling, merging, sorting, and computing) performed upon data in accordance with strictly defined procedures, such as recording and summarizing the financial transactions of a capabilities and enable greater user efficiency. With 3i Infotech's PREMIA, NMIC will be able to utilize a single platform solution that supports rating and quoting, policy administration, claims, reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. and billing. "We selected PREMIA because of its program flexibility and commitment to innovation," said Dan Fosterling Fos´ter`ling n. 1. A foster child. Noun 1. fosterling - a child who is raised by foster parents foster child, foster-child , Chief Underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. Officer, Nevada Mutual Insurance Company. "As the only doctor-owned admitted insurance company formed and active in Nevada, we are confident that PREMIA will give us what we need to remain competitive in today's dynamic market." We are delighted to provide NMIC with PREMIA, an integrated insurance solution which will enable it to consolidate their business on one technology platform," said Vivek Sethia, Vice President - Insurance, 3i Infotech Inc. About 3i Infotech Inc 3i Infotech (www.3i-infotech.com) provides information technology solutions through its range of solutions for insurance, manufacturing, retail & distribution, capital market, banking & finance and e-Governance. It is one of India's top 4 software product companies and the fastest growing Indian software product company in FY 2004-2005, with respect to both domestic as well as overseas software product sales*. The company is SEI CMM SEI CMM Software Engineering Institute Capability Maturity Model 1 Level 5 compliant for its software business and ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. 9001:2000-certified for its Infrastructure Services and Business Process Outsourcing Business process outsourcing (BPO) is the contracting of a specific business task, such as payroll, to a third-party service provider. Usually, BPO is implemented as a cost-saving measure for tasks that a company requires but does not depend upon to maintain its position in Operations. Using its domain knowledge and through continuous investment in technologies, 3i Infotech helps corporations in their businesses through its expertise in enterprise-class software solutions, software services, information security consulting, system integration services, IT infrastructure and disaster recovery solutions. 3i Infotech serves customers in 45 countries has a presence across 5 continents. (*) Source: Dataquest Special Issue: Industry Overview (July 15, 2005) About NMIC For more information about NMIC, please visit http://www.nevadamutual.com Disclaimer: Except for the historical information contained herein, statements in this release, which contain words or phrases such as "will", "would", etc., and similar expressions or variations of such expressions may constitute 'forward-looking statements'. These forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of principal international markets, the performance of the industry sectors in which our clients are based, the performance of the information technology industry sector world-wide, competition, our ability to obtain statutory and regulatory approvals and to successfully implement our strategy, future levels of our growth and expansion in business, technological implementation, changes, advancements, and redundancies, the actual demand for software products and services, or the future potential or feasibility thereof, changes in revenue, income or cash flows, our market preferences and our exposure to market risks, as well as other risks. 3i Infotech undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date thereof. |
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