(June 19, 2012 - Toronto) Risk Control Technologies Inc., the industry-leading provider of risk control software solutions for insurers, today announced that Fort Lee, New Jersey-based Leading Insurance Group Insurance Co. Ltd (US Branch) (“LIG”) has gone into production with RC Inspection as its core risk control inspection platform. LIG is a US-based subsidiary of LIG Insurance Company, Ltd. based in Seoul, Korea which specializes in insuring main street Korean-American and Chinese-American business.
“We congratulate LIG on its successful implementation of a new risk control solution,” said David Da Costa of Risk Control Technologies, “we believe they will see some significant benefits in terms of productivity, consistency and timeliness around the risk control assessment process”.
The RC Inspection solution streamlines the risk control inspection and survey process. It allows mobile risk control inspectors to electronically receive work requests and collect information in the field on a tablet device including assessment data, recommendations, digital photos and diagrams. Data is then uploaded into a central risk control system database which allows underwriters to utilize the information in making underwriting decisions. The central data repository offers risk control data mining and reporting capabilities which have traditionally been unavailable in the paper-based loss control environment in which most insurers operate.
The risk control inspection software was configured to allow LIG’s team of loss control reps in New York, New Jersey and California to perform insurance risk assessments for its commercial lines risks.
About Risk Control Technologies Inc.
Risk Control Technologies Inc. uses leading-edge technology to simplify what are traditionally horribly onerous, paper-based processes in the insurance industry. Today, the loss control solution developed by Risk Control Technologies is used by leading insurers throughout North America. For more information visit www.riskcontroltech.com.
About Leading Insurance Group Insurance Co. Ltd (US Branch)
On October 1, 2005, LIG Insurance Company, Ltd. (Seoul, Korea)("LIG") created Leading Insurance Services, Inc. f/k/a LIG Management Services, Inc. ("LIS") in the United States. LIG became keenly aware of the growing opportunity in the U.S. and decided to build an insurance underwriting organization specifically designed to respond to the unique needs of the Korean-American business community. Today, LIS is domiciled in Fort Lee, NJ, and it is the U.S. Manager of LIG's branch office which specializes in Asian-American commercial insurance risks in NY, NJ, CA, PA and IL with a focus on main street, Korean-American and Chinese-American business. For more information, visitwww.ligusb.com.