SUNNYVALE, Calif., Aug. 24, 2021 (GLOBE NEWSWIRE) -- Gigaforce, an InsurTech provider of a SaaS-based, blockchain-optimized, claims platform, is pleased to announce that National Service Bureau, Inc. (NSB) has successfully implemented the company’s platform for subrogation.
Based in Seattle, Washington, NSB is a national collection agency which manages delinquent accounts receivable and provides collection services to help businesses in the insurance, assisted living, medical, commercial, and consumer finance segments collect on past due accounts. Throughout 2020, Dave Conyers, CEO of NSB, was on a mission to securely enhance the company’s subrogation and reporting capabilities to better meet the needs of clients and eventually selected Gigaforce for the platform’s subrogation-specificity and use of blockchain.
“One of our clients recommended we review the Gigaforce solution and assess how it could not only help us, but also our clients with subrogation and recovery,” said Conyers. “Since we implemented Gigaforce, we’ve been able to put it out there in the marketplace that we have this kind of functionality, and many carriers are now interested simply based on the use of blockchain. In addition to enhancing our subrogation capabilities, and advanced analytics we’re creating new customer or carrier interest just based on Gigaforce’s use of blockchain.”
Since the Gigaforce implementation, NSB has onboarded two new major clients, in large part because the company can now offer subrogation and reporting functionality that wasn’t previously possible. The Gigaforce implementation has allowed NSB to improve processes to achieve greater flexibility and to further develop subrogation-specific KPIs which aid in more accurate reporting. For NSB, this translates into a significant decrease in the full-time employee (FTE) or man hours required to meet reporting requirements.
“The incorporation of blockchain into the Gigaforce platform was highly-intentional,” said Sanjeev Chaudhry, CEO of Gigaforce. ”Blockchain enables full auditability and instantly secures all the data transferred between stakeholders in the subrogation process. We are pleased that NSB is not only enjoying the enhanced recovery, security compliance, financial audit functionality, but new customer recruiting benefits as well. We look forward to working together for years to come.”
Already in use with insurance organizations, law firms, and third-party adjusters (TPAs), the Gigaforce platform utilizes robotic process automation (RPA)-driven claims extraction and submission of arbitration for result-driven decisioning, and can be rapidly implemented and customized for significant improvements in the subrogation process.
Gigaforce Inc. is an InsurTech provider of a SaaS-based, blockchain-optimized, claims platform which combines artificial intelligence (AI)-driven predictive models, specialized expertise, and customized services to expedite subrogation, recovery, and salvage processing for insurance ecosystems, including insurers, law firms, and third-party adjusters (TPAs). For more information, please visit www.gigaforce.io.
About National Service Bureau, Inc. (NSB)
National Service Bureau, a debt recovery agency, was established in 1986 and is presently headquartered in Seattle, Washington. We hold tight to our roots as a family business, but have grown organically into a nationwide debt collection agency. We bring a breadth of experience and a range of services to the recovery of delinquent accounts receivable. NSB has experience working debt collection for commercial, consumer finance, retail, insurance, and medical clients. We have been looking after the interests of both creditors and consumers for nearly 30 years and we can help you collect on accounts past due. For more information, visit www.nsbi.net/.
St. Nick Media Services