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Ya’ll lookin’ fer sum inshurence? This may be a pitch line you’d expect from somebody selling insurance from a company in the South, but in the case of InServe Corp. it is quite the contrary. InServe, an innovative Charlotte, North Carolina-based insurance service company which celebrated its 7th anniversary May 3, is capitalizing on cutting-edge technologies to revolutionize the way the insurance industry does business. No stranger to California, InServe has operated a regional office out of Rancho Cordova since 1999.

InServices, Inc. established its presence in California’s Workers’ Compensation market with initially 3,000 accounts through a program to insure auto repair business. Angie Carter, a veteran of 20 years in the California WC market, is the Rancho Cordova branch regional director.

A David in a land of Goliaths, InServe has been touted as one of the fastest-growing companies of its kind in the nation. Founded on the idea that there had to be a better way to handle WC claims, InServe’s mission statement makes clear its intent. "Our mission is to utilize Internet, eCommerce and emerging technologies coupled with our core business and insurance skills to reinvent and transform the delivery of workers' compensation services and occupational medicine."

InServe, through its four subsidiaries, is able to underwrite WC, serve the alternative market, partner with hospitals, provide reinsurance and offer case and claim management services.

iCorp.com was formed in late ’99 to provide leading-edge web technology solutions for WC rating, policy issuance, billing, claims and workflow management systems. Since its inception, iCorp has entered into a series of strategic partnerships that have accelerated a transformation of InServe into a "clicks and mortar" operation.

A partnership with Pasadena based insureon.com to offer real-time insurance products to agents and brokers was announced August 7, 2000. "As a managing general agent for several ‘A’ rated insurance carriers, InServe, through its iCorp subsidiary, will expand the selection of coverages available to our participating agents and brokers," said Linda Leigh Long, chief operating officer of insureon.com. "We welcome their technology and their services to the only Internet location that secures a financial commitment from the buyer prior to the quoting process."

iCorp and Providers’ Assurance Corp. are developing Electronic Data Interchange (EDI) capabilities that speed the transfer of billing, payment, prescription drug and factoring information for their health care system partners.

EDS, a leading global services company, is the latest company to enter into a technological partnership with iCorp. EDS will host InServe’s new online WC product, CompTime, which provides agents with rapid quoting and issuance of policies for insureds with premiums between $2,500 and $49,999. EDS will also provide web hosting services to insurance agencies and carriers, employers and medical providers that are clients of InServe and iCorp. Customers will access InServe’s insurance products and services through one web site, www.inservecorp.com.

InServe Chairman and CEO Steven Mariano said, "Having a stable, global partner like EDS will accelerate our ability to become a leading provider of insurance and related services over the Internet.

"Our insurance products, claims and case management services, along with technology advances, have positioned us as a preferred market for WC insurance and related services," he added.

InServe’s insurance partners currently are Clarendon National Insurance Co., a unit of Clarendon Insurance Group (CIG) and American Alternative Insurance Corp. (AAIC). Regarding the Clarendon partnership, Mariano stated, "We are pleased to add Clarendon to our insurance offerings because of the greater flexibility it gives us to serve a wider range of employers."

Founder, Chairman and CEO at 36, Mariano has a track record that’s tough to compete with. Recognized with numerous entrepreneur awards over the years, Mariano’s greatest tribute is the success of the companies he’s founded, observers say.

With $10,000, Mariano started Inserve in 1994, which in ’99 posted revenues of $109 million. In 1991 Mariano started Strategic Outsourcing, Inc. (SOI), with less than $5,000, growing the company to $150 million before hiring outside management in ’95 and selling controlling interest in ’99. SOI’s revenues for ’99 exceeded $400 million.

In reference to current WC market conditions, particularly in California, InServe Underwriters Chief Underwriting Officer Lucia Tompkins unveiled one of InServe’s secrets to success and survival. "We’ve put in place a program of disciplined underwriting and have good loss models. We’ve also developed alternative markets that provide good flexibility for our agents." This later reference pertains to online products.

InServe currently serves more than 8,000 clients nationwide and posted written premiums of more than $130 million in 2000.

Below are InServe’s subsidiaries and partnerships:

InServe Corp.

InServices, Inc.

iCorp.com

InServe Underwriters

Providers Assurance Corp.

InServe Partnerships

Clarendon National Insurance Company

American Alternative Insurance Corporation

insureon.com

EDS