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For Immediate Release
Valley Oak Systems’ iVOS® Solution Implemented at Keenan
“One-System” Claims and Insurance Solution Improved Claims-Handling Efficiency and Workflow
 SAN RAMON, Oct 17, 2007 – Valley Oak Systems, Inc., a leading provider of insurance solutions, today announced that Keenan & Associates, a full service insurance brokerage firm, has implemented Valley Oak’s iVOS as the claims solution for its third-party administrator (TPA) division. The iVOS “one-system” solution consolidates Keenan’s various insurance lines—including workers’ compensation, disability, property, and liability claims—onto a single platform for increased operational efficiency.
“Within our TPA division, our innovative best practices have provided us with a competitive advantage in the market,” said Paul Volkman, chief information officer at Keenan. “However, our legacy claims system was holding us back. Maintaining this antiquated platform was cost-prohibitive and required significant process workarounds. We selected iVOS because it had clear differentiators, including its browser-based platform, a comprehensive set of features, and ease of use.”
iVOS offers a wide array of system capabilities to assist adjusters in processing claims, including diary, scheduling, document imaging, workflow management, and automation tools. iVOS is highly flexible and can be customized to meet an organization’s specific claims-management needs. Clients essentially pick and choose the modules they need to service their unique workflow, processes, and business objectives.
“It’s been a great opportunity to work with Keenan’s claims service,” said Randy Wheeler, founder and chief executive officer of Valley Oak Systems. “Their TPA has a strategic IT vision to leverage advanced technology to improve claims-handling efficiency and cost effectiveness, but its main goal is to continually enhance customer service. Toward these objectives, iVOS provides Keenan’s clients with sophisticated online functionality, access to critical information in a timely fashion, and the benefit of sophisticated automation.”
“Since implementing iVOS, we’ve streamlined our claims operation,” said Volkman. “With our growth in the TPA arena, we handle a substantial volume of claims and significant adjuster caseload. iVOS helped to optimize workflow, particularly in our disability program. Using the system’s workflow management tools, such as its business rules, we’ve reengineered and highly automated our processes. As a result, the efficiency of our disability management has increased dramatically. As our adjusters become more efficient and effective, they’re able to handle more cases, while still providing an outstanding level of service.”
About Keenan & Associates
Founded in 1972, Keenan has grown to be the 17th largest insurance broker in the United States. With a network of offices located throughout California and a staff of more than 600 insurance specialists, Keenan continuously provides superior insurance products, unparalleled service, and customized solutions to its clients. As a full service broker, Keenan has experienced exceptional growth, directly related to its concentration on meeting the risk management, employee benefits, workers' compensation and property and liability consulting and brokerage objectives of public entities, health care systems and high-tech firms.
About Valley Oak Systems, Inc.
Founded in 1994, Valley Oak Systems (www.valleyoak.com), a unit of Aon Corporation (NYSE: AOC), provides high quality software that enables clients to achieve outstanding efficiency and performance in insurance administration, including claims management, medical bill review, policy administration, case management, billing and events. Due to its client-focused approach, Valley Oak Systems has established itself as an industry leader in insurance solutions, and its comprehensive iVOS system was recognized for its business impact with the 2006 IASA Technology Achievement Award.
Media Contact
Cynthia Chow
Valley Oak Systems
925-242-4600
cchow@valleyoak.com
This press release contains certain statements related to future results, or states our intentions, beliefs and expectations or predictions for the future which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from either historical or anticipated results depending on a variety of factors. Potential factors that could impact results include: general economic conditions in different countries in which we do business around the world, changes in global equity and fixed income markets that could affect the return on invested assets, fluctuations in exchange and interest rates that could influence revenue and expense, rating agency actions that could affect our ability to borrow funds, funding of our various pension plans, changes in the competitive environment, our ability to implement restructuring initiatives and other initiatives intended to yield cost savings, our ability to execute the stock repurchase program, potential regulatory or legislative changes that would affect our ability to sell, and be reimbursed at current levels for, our Sterling subsidiary’s Medicare health product, changes in commercial property and casualty markets and commercial premium rates that could impact revenues, changes in revenues and earnings due to the elimination of contingent commissions, other uncertainties surrounding a new compensation model, the impact of investigations brought by state attorneys general, state insurance regulators, federal prosecutors, and federal regulators, the impact of class actions and individual lawsuits including client class actions, securities class actions, derivative actions, ERISA class actions, the impact of the analysis of practices relating to stock options, the cost of resolution of other contingent liabilities and loss contingencies, and the difference in ultimate paid claims in our underwriting companies from actuarial estimates. Further information concerning the Company and its business, including factors that potentially could materially affect the Company’s financial results, is contained in the Company’s filings with the Securities and Exchange Commission.
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Kevin Confetti