CHSI Technologies: Serving Underserved Insurance Markets

Lee Mashore, CPO

Due to the lack of adequate software and technologies, many small-sized insurance companies find themselves unable to meet the customers’ needs. These organizations also face challenges such as reporting incapability and data inaccuracies as they continue to use MS Excel spreadsheets rather than advanced systems for reporting and management of data. Another major reason that restricts them from scaling is the gap they witness with regards to institutional knowledge, which leaves a void in the company as professionals with this knowledge retire from these organizations. These challenges are alarming and represent great threats for these insurance companies. Nevada-based CHSI Technologies assists these companies in overcoming these challenges by offering CHSI Connections^TM—a Software-as-a-Service (SaaS) product. Connections is insurance management software that offers much more than policy management and is available on pay-per-service model.

CHSI, within this platform, has created a strong CRM module, wherein everything from sales channels to policy holder communications is managed seamlessly. The company brings automation that most of its clients— primarily tier three and four insurance companies--haven’t yet experienced. CHSI also has highly configurable policies, making it extremely easy for customers to add new states, along with associated rating, binding, issuing & administrations of policies and even new lines of business. Another key module in CHSI’s SaaS-based Connections is dedicated to billing. “Since most of our customers are small, they are using small accounting packages, so having a premium billing module that makes them manage premiums, taxes, and reporting is very important,” says Lee Mashore, CPO, CHSI Technologies.

The next big mission for the company is to expand the claims system that will, in turn, support workers’ compensation

The company also offers specialized support for these companies for claims management and administration. “In terms of claims management, we facilitate integration with third-party administrators. On the claims administration side, CHSI allows customers to move away from its traditional systems and manage claims administration more systematically,” adds Mashore.

Tailor-making the solutions for the customers is another of CHSI’s key attributes. The firm executes a unique solution called “Implementation Analysis,” in which its sales team holds meetings with prospective clients for a couple of days to assess functional processes around claims, billing, insurance, coding and so on. Through this, the company gets a clear picture of the most fitting module to implement and as well as the cost. This process gives the clients great transparency into the company’s operating dynamics and also into their budgets. Though CHSI Technologies does not build custom software for each of its customers, the modules it offers are highly customizable.

“The customers come for the software but they stay for the service,” says Mashore proudly. CHSI Connections has helped many clients over the years, including a provider of property and liability insurance in Northern California that served the medical industry. The client approached CHSI Technologies to issue renewed policies to 4,200 policy holders. The client then engaged the company to work on the workers’ compensation program and, with CHSI’s help, the policies were processed well ahead of the deadline. This extraordinary feat exhibits the company’s customer service prowess.

Currently, CHSI has over 50 insurance programs using its software across the country, another great accomplishment for the growing CHSI team. Further, the company aims to tweak its systems with new modules and components, as well as offer integrated predictive modeling. With an inflow of strong business intelligence components that have been recently added into the company’s software, CHSI Technologies looks to penetrate other insurance industry markets that still remain untouched. The next big mission for the company is to expand a claims system that will, in turn, support workers’ compensation. Being customer oriented and mission-driven, CHSI Technologies is primed for achieving monumental success in the insurance industry.