WEM licensed by eProperty Solutions
Loss Technology Services, Inc., a SkyeTec company,
partners with i3 GROUP and LYNX SERVICES
as they launch ePROPERTY SOLUTIONS by providing
Water Event Manager technologies to the suite of services
Jacksonville, FL – September 22, 2011 - At Loss Technology Services, Inc., we continuously strive to provide innovative and thorough consulting/audit services for property loss claims. Over the past years we have helped reduce claim severity by hundreds of thousands of dollars and helped streamline the mitigation, remediation, and/or restoration practices of many contractors by applying industry standards and guidelines to the scope of work and pricing protocols.
In our ongoing desire to exceed the expectations of our customers in both service quality and file delivery, and our desire to assist the property insurance community as a whole with continuing the progression towards industry standardization for reasonable costs, we realized the need for a partner to help expedite the achievement of these goals. We searched for a partner that would both enhance our serviceability as well as bring innovative solutions to our client base. After months of evaluation, it became apparent to the SkyeTec/LTS team that LYNX Services and the i3 Group would be the perfect fit as they develop the comprehensive suite of claims services called eProperty Solutions.
eProperty Solutions is a claims management platform incorporating first notice of loss, claims administration services, comprehensive desk audit services, and pro-active management of vendor compliance in-line with Insurer requirements and industry best practices. eProperty Solutions is designed to lower loss adjustment expense, control indemnity cost, optimize vendor performance, and improve customer satisfaction/retention.
eProperty Solutions will provide water mitigation auditing services via the “Water Event Manager” (WEM) technology application. WEM provides Insurance Carriers and Adjusters with an analytical review of both drying/mitigation services and the associated costs. WEM is the only solution that combines both process and pricing components which will help standardize the restoration and drying process within the Property Insurance Industry.
About Loss Technology Services (LTS), a SkyeTec company
Loss Technology Services, Inc. provides comprehensive solutions for verification of property loss claims. Serving both the professional insurance and the contracting industries through advanced technology and personnel expertise, its mission is to enhance communication and technical proficiency between all parties to the loss utilizing scientific verification of project scope and administration along with respected pricing research.
About Water Event Manager (WEM)
WEM is a real-time, on-line intelligent structural drying evaluation/validation tool that is user-friendly and allows for single entry of data. WEM offers increased speed, precision and transparency of water loss claims processing. Over the past six years, WEM has reduced Water Claim Severity by over 30% resulting in a material reduction of water mitigation settlement costs. WEM is easy to incorporate and provides a clear picture of what the drying/restoration process should look like (equipment usage, duration, tasks, etc) and then identifies the costs associated with those tasks. The end result is a unique filter that provides a "road map" to the adjuster/Carrier of appropriate process and price, thereby saving money and time.
For more information regarding Loss Technology Services and Water Event Manager, please contact us at 1-888-521-4679 or 904-525-3343.
About i3 Group, LYNX Services, and eProperty Solutions
LYNX Services and i3 Group have formed a strategic alliance to deliver the new eProperty Solutions vendor management service that increases profitability, enhances policyholder satisfaction and boosts employee productivity. Leveraging LYNX Services’ best-in-class claims management capabilities with i3 Group’s innovative process-measurement techniques, the service deploys a new and innovative technology platform that is seamlessly integrated into claims-management and estimating software. eProperty Solutions drives workflow efficiencies, productivity gains, improvements in key performance indicators and enhanced levels of business profitability.
For more information, please contact LYNX Services, LLC at 800-806-2573 or visit www.lynxservices.com. Contact i3 Group LLC at 813-251-3604 or visit www.i3group.net.
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