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Nationwide Indemnity Sticks with Innovation Group, Chooses Insurer Pyramid Workers' Comp Solution

Innovation Group's Insurer Pyramid is a new .NET version of the system the vendor gained through the 2001 acquisition of Pyramid.

Nationwide Indemnity, a Wausau, Wisc.-based wholly owned subsidiary of Nationwide Mutual Insurance Co. (Columbus, Ohio), has selected Innovation Group's (Whiteley, U.K.) Insurer Pyramid version 3.1 workers compensation core administration solution.

Following what Innovation Group characterizes as an extensive evaluation process, Nationwide indemnity selected Insurer Pyramid 3.1 to replace an earlier incarnation of the system, partially on the basis of the carrier's 10-year relationship with the vendor. By upgrading, according to an Innovation Group statement, Nationwide Indemnity can more easily stay in sync with changing technology by leveraging the solution's flexible capabilities to successfully manage long-term exposure claims.

The implementation of Insurer Pyramid at Nationwide Indemnity will include data conversion, utilizing Innovation Group's conversion tools, according to Innovation Group. The vendor describes Insurer Pyramid as a functionally-rich, rules-based workers' compensation core administration solution with extendibility to other commercial lines. Based on a .NET platform, Insurer Pyramid supports comprehensive, real-time payment processing, mitigates exposure, capitalizes on recoveries and reduces unnecessary loss pay out through accurately captured legal case data, automated reserve worksheets, analytic reporting, loss control/survey tracking, and fraud determination rule processing, the vendor says. The solution is based on the assets related to Innovation Group's 2001 acquisition of Pyramid.

"We are honored to continue our relationship with Nationwide Indemnity through their decision to upgrade to Insurer Pyramid," comments Euan King, CEO North America Insurer Software. "This selection highlights the business value of Insurer Pyramid, as well as the importance of a strategic partnership approach based on collaboration and mutual trust."

Anthony O'Donnell has covered technology in the insurance industry since 2000, when he joined the editorial staff of Insurance & Technology. As an editor and reporter for I&T and the InformationWeek Financial Services of TechWeb he has written on all areas of information ... View Full Bio

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