In order to grow its customer base and provide a complete workers' compensation claims administration offering, Bridium (Atlanta) has acquired Fair, Isaac's (San Rafael, CA) Workers Compensation Connectivity business unit. The insurance solutions provider has had a long relationship with Fair, Isaac, according to Steve Isaac, Bridium's CEO. "We have Fair, Isaac's managed care solutions embedded in our claims management solution," he says. "Both Fair, Isaac and Bridium felt that, from a practicality and business standpoint, it was a better play to have the Connectivity piece be part of Bridium's claims platform."
As a result of the acquisition, Bridium now has access to more than 400 insurance-related customers. The agreement includes all software, customer contracts and several Fair, Isaac employees.
As a result of the acquisition, integration of Bridium and Fair, Isaac products has already begun in Bridium's Atlanta and Huntsville, AL, data centers. "Bridium offers a full browser-based claims management solution for all lines of insurance," says Isaac. "With this acquisition, we will be able to leverage that technology and customer base to bring about additional functionality and data content services." Because it will enable insurance customers to streamline the administrative process and provide customers with a one-point service solution for all aspects of claims, medical management and payment, the acquisition is significant to the insurance industry, says Isaac.
Additionally, through this acquisition, Bridium's sister company FiWare is able to provide online payment disbursement as part of the services offered to the Connectivity unit customers. FiWare provides secure solutions for corporate payment management.