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JDI DATA |
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August 29, 2016 Issue |
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CEOCFO MAGAZINE |
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Insurance Software Solution providing Claims Management, Policy Administration, Certificate Tracking and Vendor Cost Control |
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Chief Executive Officer
JDI DATA
Interview conducted by: Lynn Fosse, Senior Editor, CEOCFO Magazine, Published - August 29, 2016
CEOCFO: Mr. Wolczanski, what is JDI DATA solving and how are you innovative? Mr. Wolczanski: We provide software solutions to professionals in the insurance, risk, and legal communities. Our ideal clients are entities looking to optimize their workflow and improve efficiencies through technology. One of our more innovative solutions, AccessADoc, is a proprietary document repository which combines storage with the ability to read documents through optical character recognition.
CEOCFO: Would you give us an example of a traditional problem and what JDI is able to provide that makes a change that is worthwhile for your clients? Mr. Wolczanski: One of our clients was spending 12 hours per day to open mail and route standard documents to the appropriate contact located around the country. They would open up the document, scan it, and forward to one of six locations. Then someone took the document and manually keyed in data to create a claim. By deploying one of our solutions, we have streamlined this process and reduced time spent by 66%. Once the document is open, it’s scanned, read by our software, the destination is identified, and the appropriate fields are automatically populated in the system. Data entry and time spent looking at the document, to identify where it should be routed, are all drastically reduced.
CEOCFO: Are there challenges today in reading a handwritten document or has this been largely overcome by technology? Mr. Wolczanski: This is absolutely still a challenge. The success rate is not yet where you would want the technology to be. If it’s a text based document, the percentage is fairly high. We have gotten in the range of 85-95%, but when you go to a handwritten document, it drops radically.
CEOCFO: Is much still coming in by hand in the mail as opposed to what should be online? Would tell us about the industry in general? Mr. Wolczanski: There is still a tremendous amount done manually. Some of our most efficient clients are the ones that actively look to improve their processes. As much as we talk about going green and paperless, a lot of the industry is still very much paper driven.
CEOCFO: Would you tell us about the range of people and areas of insurance that you are able to deal with and something about the different solutions? Mr. Wolczanski: Our client base is rather diverse, it includes; third party administrators (TPA’s), municipalities, self-insured companies, and some of the largest home builders in the United States. Given their diversity, requests are often unique. Information is absolutely critical in today’s world, especially real time information. The old days of waiting for data, then looking at reports are gone. Clients are focused on real time dashboards and reacting to what is going on in their business right now, not just looking for monthly and quarterly trends.
CEOCFO: How are you reaching potential customers? Mr. Wolczanski: We are a relatively small company but the size of our client portfolio is interesting because growth is in the double digits. We attribute this to our ability to deliver configurable solutions, as opposed to vanilla software that the marketplace has grown accustomed to. Clients want optimization and customization. Whether it’s workflow, document imaging, document reading, or dashboards, they are always looking to optimize their environment.
CEOCFO: What are some of the areas you might customize? Mr. Wolczanski: Change management is the key to a successful deployment. Users like terminology they are comfortable with. If we can create a workflow that optimizes their time and retains their terminology, a successful implementation is far more likely. We invested a significant amount of resources in developing configurable workflows to facilitate this. There really is no standardization as it relates to a deployment. Our goal is to identify what works best for an organization, then focus on customizing it to their business need.
CEOCFO: Do you realize initially that it was important or did you learn as you went along that people wanted that capability? Mr. Wolczanski: It’s become more prominent over the past couple years. Whether we’re at industry tradeshows talking to prospects or with our existing clients, having the ability to configure the system to enhance the user experience is essential. Being able to drag and drop or modify the terminology allows each client to utilize the system that works best for them. Listening to client feedback has been the driving force behind enhancing our product, client retention, and expanding our client base.
CEOCFO: What is the competitive landscape? Are many companies trying to serve this arena? Mr. Wolczanski: This is a competitive space with some large vendors in the marketplace. JDi’s key differentiator is our focus on customer service. Our strength is that we can listen to each of our customers and provide concierge level service. When a client calls support they don’t get an automated message, they’re speaking with a member of the team who can triage and resolve their issue.
CEOCFO: Would you tell us about the Vendor Cost Control solution? Mr. Wolczanski: Vendor Cost Control is an interesting solution for us. Originally it was a product intended to be sold as a software solution to the legal community. In the years since, our client based has evolved to include insurance carriers and construction developers. It is now a 100% service bureau with our team administering all aspects of the software. Our business development team’s current focus is to introduce this solution to new legal markets such as environmental litigation and product liability. The commonality between all of them is their desire to gather large amounts of data and provide reporting metrics to their organization's senior leadership.
CEOCFO: Do you need to be on top of regulatory issues in insurance or is that up to your client? Mr. Wolczanski: As our client’s technology partner, we pay close attention to changes in the regulatory world. It’s in our best interest to be proactive in deploying enhancements as oppose to being reactive. Regulatory changes are of the highest priority to us, we partake in many industry discussions with the regulatory boards to ensure our technology is evolving with industry changes.
CEOCFO: Are you subject to any regulatory authority because of the industry you are working with or as a vendor are you outside of that? Mr. Wolczanski: We are not directly subjected to regulatory authority, however; we are required by our clients to offer a system that can support their regulatory requirements. We are often tasked with configuring the system to meet their business rules or regulatory requirements.
CEOCFO: Do you see potential of working with other industries because you have developed a good format and a useful solution? Mr. Wolczanski: That is a great question. By leveraging our existing relationships with law firms and our Vendor Cost Control business, we now offer further infrastructure support to the legal community. We identified through our communication with clients that they currently struggle in getting information from their billing department. By partnering our expert staff with their in-house resources, we have now launched a new business offering that solves a significant pain point for the client.
CEOCFO: How is it going so far? Mr. Wolczanski: It is going phenomenally. I could not be more pleased with the feedback we are receiving and potential clients that are out there.
CEOCFO: What do you look for in your people, particularly since you mentioned customer service is a big factor? Mr. Wolczanski: Everyone at JDi is a proponent of customer service. We are adamant about “WOW-ing” the customer, whether it’s with our clients or internal staff. We feel this so strongly that it is number one on our Culture Code and can be seen posted around our office. Our founder started the company centered on customer service and the belief that we can do it better than anyone. When adding new members of the team we look for people who are passionate about solving problems. That may sound overly simplified, but it’s the truth. Our team is made up of talented people who take great pride offering solutions to the challenges facing our clients.
CEOCFO: According to your site, your service is economical. How important is cost and when does that come into play when a potential client is looking at your service? Do they see the return on investment easily? Mr. Wolczanski: In some instances, they do, and in some instances they do not. There are many people that will make a decision based solely on cost or because they know a company has a vanilla product that can be deployed with minimal client involvement. Justifying ROI can be tricky unless you have an organization that is ready to embrace change to their current environment. For example, the company that I mentioned earlier regarding the scanning process, saw the possibilities, we deployed the product, and installed the scanning option. It is the possibilities and understanding where they could take it. We have many clients that as their business grows, we grow with them. If they add new lines of business, we support those new lines.
CEOCFO: Why choose JDI DATA? Mr. Wolczanski: There are many providers out there. What separates JDi, is our ability to provide software solutions and act as our client’s technology partner. Knowing that no two clients are the same, we sit down and provide a thorough analysis and recommend the best solution for their specific needs. In pairing that with our passion for customer service, we can offer clients the best of both worlds. |
“What separates JDi, is our ability to provide software solutions and act as our client’s technology partner. Knowing that no two clients are the same, we sit down and provide a thorough analysis and recommend the best solution for their specific needs. In pairing that with our passion for customer service, we can offer clients the best of both worlds.”- Joe Wolczanski
JDI DATA
Contact: Michael Fariello 954-938-9100 ext 203
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Joe
Wolczanski