DAVID Corporation, a provider of risk management and insurance software and services, has announced the latest release of NavRisk 5, its risk management information solution.

According to company, NavRisk is a full service risk management solution currently in production with various Insured Organizations, TPAs, and Risk Pools and is available as a hosted or self-hosted model.

The new risk management solution will help clients dramatically reduce their cost per claim, cut administrative costs in half and recognize six-figure operational savings through automated workflow, a sophisticated business rules engine and integrated core systems.

NavRisk 5 provides users with the following major features: robust reporting solution; improved claim intake functionality; redesigned policy portal; enhanced configuration options; new reserve worksheet functionality and enhanced email functionality.

The comprehensive suite consists of NavRisk Policy, policy administration and underwriting; NavRisk Claims, web based claims management; NavRisk Central, self service risk management portal and NavRisk Analytics, advanced reporting and business intelligence.