April 28, 2008

Ho’Ike Technology Becomes BlueWave Technology(R), Inc.

Ho'ike Technology, an information technology solutions and services company, today announced it has changed the company's name to BlueWave Technology®, Inc. Leveraging a rich heritage of providing solutions to property and casualty (P&C) carriers and reflecting its origins in Hawaii, BlueWave Technology will primarily market its PipelineClaims product line and also support its BlueTropics insurance solutions for current clients.

Ho'ike Technology established itself as a technology provider that brought together a relevant mix of products, platforms, applications and hosted solutions to help customers realize immediate returns on their investments. In providing secure and cost-effective software and hosted solutions for P&C carriers, the self-insured and worker's compensation markets, the company has helped businesses and organizations to operate more efficiently and effectively. As BlueWave Technology®, the company will expand on its software development, sales and marketing capabilities, and developing and delivering more solutions for these markets.

A subsidiary of Island Holdings, a diversified Hawaii-based insurance company holding corporation, the newly-named BlueWave Technology will leverage decades of expertise gained from leading technology and professional services companies. "Ho'ike is proud to establish BlueWave as the preeminent software solutions company -- a company geared to addressing the needs of P&C insurers," stated Riki Fujitani, President of BlueWave Technology. "With the experience and expertise of our team, and their vast knowledge of the claims and insurance industry overall, we are confident that BlueWave will quickly establish itself as a leader in the P&C marketplace," he remarked.

In April, BlueWave will announce the release of PipelineClaims® 3.0, a Java-based application combining traditional claims administration with business process management. The product centralizes claims operations into one business platform, automates business rules and workflows and integrates with existing document management and policy systems to provide faster claims handling, processing and resolution.

About BlueWave Technology

BlueWave Technology®, Inc., a wholly-owned subsidiary of Island Holdings, is an IT solutions and services company with expertise in providing secure, flexible applications that address the needs of property and casualty insurers. Founded in 2001, the company develops and markets the PipelineClaims product line. Through partnerships with industry leaders including EMC Documentum, BEA, Sun, IBM, Cisco Systems, Kofax, Dell and Oracle, BlueWave helps its clients to focus on their core business needs. BlueWave is headquartered in Honolulu, Hawaii. For more information, please visit www.bluewave-technology.com.