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ELIOS Technology Beats Competition and Wins New Client, New York Central Mutual Insurance - Significant Operating Cost Reductions Soon Realized
ELIOS technology enables NYCM to cut mailing costs by an estimated 50% compared to manual processing which provides a greater competitive advantage. Companies like NYCM lead the effort to improve service efficiencies while others may find it increasingly difficult to thrive against competitors implementing new technology, like the ELIOS software suite.
San Ramon, CA February 25, 2004 - ELIOS, Incorporated, a leading software provider to the financial and insurance industries, announced today that New York Central Mutual (NYCM) Insurance has selected ELIOS as its exclusive Electronic Loss Payee Notification technology vendor. The ELIOS solution will enable NYCM to cut mailing costs by an estimated 50% compared to manual processing which provides a greater competitive advantage.
Today, reduced profit margins and increased costs are the reality that financial services and insurance companies face in addition to heightened competition. Companies like NYCM, however, lead the effort to improve service efficiencies. Others may find it increasingly difficult to thrive against competitors implementing new technology, like the ELIOS software suite.
The confidence New York Central Mutual has in implementing the ELIOS solution will be immediately validated through the cost savings and increased operational efficiencies, states Jordi Huguet, ELIOS founder and CEO. Clients like New York Central Mutual are industry leaders who will reap first-mover advantages over their competitors and were pleased to be a part of the equation.
Mark Grygiel, NYCMs Assistant Vice President confirms the optimism, ELIOS is very responsive, especially compared to other vendors and based upon the solutions offered, their technology is a good fit. When fully implemented, we expect to save roughly 50% in mailing and administrative costs plus well redirect the efforts of 3 full-time personnel to more productive and fulfilling activities.
New Technology on the Horizon
ELIOS technology has been well received by insurance and financial services firms due to its almost immediate and demonstrable reduction in client operation and administrative costs. Soon, ELIOS will announce more software solutions that work along side the current ELIOS Transfer Utility and Power Search product family.
About ELIOS
ELIOS was founded in 1998 and incorporated in 1999, to fulfill the pent up demand from financial and insurance services companies for Electronic Loss Payee Notification Software Services. The ELIOS solution focuses on customer needs and delivers significant cost savings, increased efficiency, improved accuracy while eliminating manual operations that are error prone and difficult to administer. The ELIOS Electronic Loss Payee Notification Software Services suite has been deployed by a wide-range of insurance and financial services organizations enabling considerable competitive advantages from cost savings in personnel, administration, IT resources, and overhead. Visit ELIOS online at www.elios.us or call for more information, 925-973-0881.
About NYCM
New York Central Mutual, founded in 1899, has earned a financial strength rating of A+ Superior from the trusted source, A.M. Best Company, Inc. NYMC builds lasting customer relationships through focused efforts to promote and enhance services. In addition, NYCM applies leading-edge technologies throughout the company to make every aspect of service to customers and the over 1000 independent agents - from processing policies to handling claims precise and efficient. For more information, visit online at http://www.nycm.com or call 1-888-234-6926.
Company: NYCM
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