WAKEFIELD, Mass., May 18, 2009 (GLOBE NEWSWIRE) -- Edgewater Technology, Inc. (Nasdaq:EDGW) ("Edgewater Technology" or the "Company"), an innovative technology management consulting firm, announced today that Transamerica Worksite Marketing ("TWM"), an operating division of Transamerica Life Insurance Company, has recently completed its new Billing, Receipting, Allocating, Suspense System (BRASS).
"We are honored that TWM leveraged Edgewater's Insurance vertical and technology management consulting expertise," said David Gallo, Chief Operating Officer of Edgewater Technology. "We collaborated closely with TWM's team to develop a comprehensive group billing and administration system that adheres to industry-specific ACORD standards."
Built on a .Net platform, BRASS executes timely and accurate production of group bills, processes policy / group maintenance updates, and provides many other functions ranging from the receipt of group bill payments all the way through policy-level premium allocation. In order to achieve this broad functionality, BRASS interacts seamlessly with TWM's policy administration, automated workflow, accounting and employer information systems to perform its core functions, and is also capable of generating a robust suite of reports. Overall, the BRASS application is comprised of nine (9) modules responsible for handling TWM's billing and premium collection lifecycle.
"The BRASS system is a state-of-the-art group insurance solution that will enable Transamerica to attract and retain both new employer groups and producers," stated Connie Whitlock, TWM's Chief Operating Officer.
"BRASS has helped TWM to completely reengineer its group billing operations to better meet our current and future business needs," stated Scott Grable, TWM's Vice President of Group Billing and Commissions. Scott added, "By working with Edgewater, we were able to develop a system that addresses our unique needs and incorporates our industry's best practices."
The implementation of BRASS allowed TWM to meet one of its most important corporate goals. The new capabilities of the BRASS system give TWM a competitive edge in the group insurance marketplace.
About Edgewater Technology
Edgewater is an innovative technology management consulting firm. We provide a unique blend of specialty IT services by leveraging our proven industry expertise in strategy, technology and enterprise performance management. Headquartered in Wakefield, MA, we typically go to market both vertically by industry and horizontally by product and technology specialty and provide our clients with a wide range of business and technology offerings. To learn more, visit www.edgewater.com or call 800-410-4014.
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About Transamerica Worksite Marketing
Transamerica Worksite Marketing (TWM) is a marketing unit of Transamerica Life Insurance Company, a member of the AEGON Group. TWM offers one of the most comprehensive portfolios of voluntary group benefits in the worksite industry. TWM's life and supplemental health insurance product lineup includes universal life, whole life, term life, short-term disability, cancer, critical illness, accident, limited benefit hospital indemnity, and out-of-pocket medical expense plans.