I just found this company today...interesting concept and good MOMO...MRS-T
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Moss Resources Inc -
Moss Asset Management to offer Preferred Vendor system
Moss Resources Inc MRS
Shares issued 23,315,535 1999-12-13 close $0.36
Tuesday Dec 14 1999
Mr. Ron Weinberger reports
Asset Management Software Systems Inc. (a company to be acquired by Moss as per the announcement in Stockwatch Dec. 6, 1999), plans to offer Preferred Vendor e-Replacement, a new business-to-business e-commerce solution for the insurance industry that will provide cost-effective and prompt replacement of property content claims. Preferred Vendor e-Replacement will complement its current system, AccuClaim. Both systems will allow Linux and Windows-based users the ability to run the software on stand-alone PCs, notebooks or through LAN or WAN networks.
Insurance companies traditionally settle property content claims in the following manner. The insurance adjuster and the insured customer agree on the items and value of the articles to be replaced and the terms of settlement. The customer then shops and purchases the articles, forwards the invoices to the insurance company and waits for reimbursement. This process is lengthy, inefficient and expensive, for the insurance companies and their customers.
Insurance companies using the Preferred Vendor e-commerce system will benefit from substantial discounts on the items purchased. Agreements are currently under negotiation with major retailers across North America. This will result in tremendous savings to the insurance industry which last year paid out over $275-billion in property and casualty claims. Asset Management plans to release the system in early 2000.
With Asset Management's new Preferred Vendor e-Replacement system, insurance companies will be able to order electronically, and arrange for convenient delivery of replacement items to the customers home or office, within days. "The claims process turnaround will change from taking weeks to taking mere hours, while insurance companies will pay wholesale instead of retail prices on the replaced items," stated Aidan Bolger, president of Asset Management.
"The addition of the Preferred Vendor e-Replacement system, will provide another unique component to Asset Management's AccuClaim product line, and once again, Asset Management will be first to market when it is launched," said Ron Weinberger, a director of Moss Resources.
About Asset Management
Headquartered in Toronto, Ont., Asset Management is a business-to-business technology company that is revolutionizing the way insurance companies process, settle and replace property content claims. The company offers a claims processing system comprised of a dynamic software program and database, trademarked AccuClaim, which has been successfully piloted in some of North America's leading insurance companies. AccuClaim is now available to the $275-billion property claims processing market in North America.
AccuClaim's proprietary technology, software and database allow insurance companies to increase profitability and provide superior customer service while dramatically lowering claim costs. AccuClaim's database is the largest and most comprehensive database of current and historical residential products and collectables in North America. By using AccuClaim, insurance companies will enhance their adjusters' productivity, accelerate the speed of the claims settlement process, as well as create higher levels of customer satisfaction and retention.
WARNING: The company relies upon litigation protection for "forward-looking" statements.
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