CANTON, Mass., Sept. 8 OneBeacon Professional Partners, a member of OneBeacon Insurance Group (NYSE: OB), today announced an alliance with Medversant Technologies, LLC to offer OneBeacon managed care customers AutoVerifi(TM), a patented, electronic credentialing verification and management system that continuously validates, stores and retrieves records of medical providers.
This technology simplifies the credentialing process by housing information in a single, electronic warehouse, and creates efficiency by updating and verifying information on an ongoing basis. OneBeacon Professional Partners' managed care customers will be entitled to receive a discount from Medversant for their AutoVerifi system, which several national and regional health plans have selected to help streamline their credentialing and provider data management processes.
Currently, managed care companies generally conduct credentialing at three-year intervals. This unique technology allows for the continuous review of information and immediate notification of changes at a significant cost savings for organizations.
Susan Angelo, Senior Vice President for OneBeacon Professional Partners' managed care business, said, "AutoVerifi is a unique solution to help our customers enhance their business, save on administrative costs and improve their liability risk. By enabling them to verify and update credentialing information continuously, customers know about potential problems immediately."
Matt Haddad, CEO of Medversant, said, "OneBeacon Professional Partners understands the exposures managed care organizations can face as a result of outdated or inaccurate data. Our alliance will improve these risks for their policyholders and help them realize dramatic cost savings."
OneBeacon Professional Partners is a member of OneBeacon Insurance Group that specializes in professional liability solutions for targeted industries including hospitals of all sizes, physician groups, managed care organizations, long-term care facilities, health care facilities, media organizations, real estate professionals and lawyers. Additionally, OneBeacon Professional Partners provides Employment Practices Liability Insurance, Management Liability and tailored products for complex organizations including health care provider excess insurance and HMO reinsurance.
About Medversant: Medversant, LLC is the nation's leading provider of continuously monitored Web-based credentials verification solutions for hospitals, health insurance plans, nursing homes, outpatient centers and other health-care settings. Medversant provides a software tool that is highly efficient, cost-effective and an accurate solution for provider database management. Headquartered in Los Angeles, CA. Medversant can be reached at (213) 291-6139 or www.medversant.com.
About OneBeacon: OneBeacon Insurance Group's underwriting companies offer a range of specialty and segmented commercial and personal insurance products sold through select independent agents, regional and national brokers, and wholesalers. As one of the oldest property and casualty insurers in the United States, OneBeacon traces its roots to 1831 and the Potomac Fire Insurance Company. Today, OneBeacon's specialty insurance businesses are national in scope, while commercial lines business is produced in select territories throughout the United States. Personal lines business is concentrated in the Northeastern United States.
OneBeacon's U.S. headquarters is in Canton, Massachusetts. The company is publicly traded on the New York Stock Exchange under the symbol "OB".
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SOURCE OneBeacon Insurance Group, Ltd.