|
Media
Contact: The Stone Eagle Group Jason Gillete 800.854.1567 jgillette@stoneeagle.com |
|
Media
Contact: EFG Companies Jeff Beaver 972-445-8336 jbeaver@efgcompanies.com |
|
|
EFG Companies Selects SEcureCard from StoneEagle Group to
Streamline |
|
|
SEcureCard Improves
Service Department Claims Process with Immediate Payment Reconciliation |
|
Dallas, Texas – October 30, 2007 – The StoneEagle Group (StoneEagle) today announced that EFG Companies (EFG), a provider of Finance and Insurance products,
services and technologies to automotive dealers, has selected SEcureCard to automate the claims
management process for its vehicle service contract business. EFG, which has been offering its Motorist Assistance Plan (MAP™)
line of vehicle service contracts for nearly 20 years, is using SEcureCard to streamline claims
administration. The SEcureCard solution has been providing vehicle service contract administrators with a
real-time approach for handling claim payments and reduced labor costs since 2004. SEcureCard
eliminates the tedious manual paper-based reconciliation processes that normally can take claims
departments an average of five to seven days to resolve. Now,
when either a repair facility or dealer (payee) requests approval for repairs
covered under MAP™ Vehicle
Service Contracts, the EFG claims department authorizes a unique
"one-time" use SEcureCard number
for each claim. The payee then receives an electronic authorization. Once the
payee completes the
repair and submits the transaction, SEcureCard reconciles the information to
the approved claim and the payment
is automatically processed through EFG's administration system. “Our
implementation of SEcureCard is a win for both EFG and our dealer clients. It
not only provides our dealers
with a more streamlined and responsive claims process, it also simplifies the
reconciliation process for our
back office operations team while improving accuracy,” said Bill Bigley, CFO
of EFG. “The application
also interfaces directly with our StoneEagle Service Contract System, giving
us an additional efficiency
benefit. We expect the new process to provide greater controls that will also
help to minimize the likelihood
of error or fraud.” “SEcureCard
virtually eliminates overcharges and fraudulent activity associated with
paying claims,” said Bobby
Allen, President of StoneEagle. “By implementing this program, EFG can expect
substantially reduced
costs involved with processing checks, the time and labor necessary to track
credit card issues and control
the manner in which they handle claim payments. EFG is among the leading
administrators who have
been able to accelerate service to their client base and simplify their
entire claims payment process with
SEcureCard.” About
The StoneEagle Group StoneEagle
has provided software tools and enterprise administration systems tailored
for the insurance and automotive
industry for over thirty years. StoneEagle leverages the latest technology to
create safe, secure connection
points between Insurance Administrators and their Automobile Dealer, Bank and
Credit Union clients.
The result is a multi-functional suite of applications that are an ideal
solution for administrators seeking
total enterprise integration. For additional information, please contact
Jason Gillette at 800-854- 1567
email: jgillette@stoneeagle.com
or visit StoneEagle’s web site at www.stoneeagle.com. About
EFG Companies EFG
Companies (Enterprise Financial Group, Inc.) is a premier dealer performance
management company that
partners with automotive retail dealers to drive dealer profitability through
its Finance and Insurance products,
services, and technology solutions. EFG Companies has been developing and
distributing innovative
profit solutions to retail dealerships for more than 30 years. The company is
headquartered in Irving,
Texas, and licensed in 44 states. Website: www.efgcompanies.com |