New software capabilities enable commercial insurance companies to drive operational growth and efficiencies
DENVER–(BUSINESS WIRE)–CHSI Technologies (CHSI) is a market-leading SaaS platform for Policy and Claims Lifecycle Management, Billing, and Compliance for the commercial insurance industry. Bow River Capital’s 2019 investment in the company has catalyzed significant transformative growth and new product innovation over the last 12 months.
Q3 and Year-to-Date News:
- Closed new client contracts and sales bookings have increased by 586% YoY
- Delivered on 17 new client implementations, representing a 242% increase YoY
- Scaled-up engineering, sales, and operational talent by three-fold
- Continued to meet 2020’s key product development dates to launch the Claims Management system and Producer Access Portal
“The entire CHSI team continues to proactively respond and deliver best-in-class functionality to the insurance industry through the myriad of complex challenges spurred on by Covid-19 and the global pandemic,” states Chris Stites, President and CEO of CHSI. Further stating, “Our sales pipeline and implementation backlog is rapidly expanding in Q4 as we launch multiple new software products to our clients and partners.”
“We’re extremely pleased with Chris Stites’ leadership and CHSI’s accomplishments in 2020; they have accelerated product deliverables, sales and implementation execution to drive major ARR growth,” stated Maitlan Cramer, VP Bow River Capital Software Growth Equity Fund and board director at CHSI.
About CHSI Technologies
CHSI Technologies is a market-leading Insurtech platform for policy and claims lifecycle management, billing, real-time decision support and analytics. The company’s flagship product, Connections, supports commercial insurance carriers, captives, public entity pools, Self-Insured Groups, risk and claims managers. A partial client list includes Trean Corporation, Brentwood Services Administrators, Inc, Manufacturing Technology Mutual Insurance Company (MTMIC), Housing Authorities Risk Retention Pools (HARRP), UBIC Workers Compensation Insurance, and Gallagher.