ORLANDO, Fla., May 23 â Computer Sciences Corporation (NYSE: CSC) today announced new component software products that will improve productivity for property and casualty (P&C) and life insurance claims professionals. CSCâs Claims Accelerator for life and annuity companies and Claims Desktop for P&C insurers, which are being developed in collaboration with CSC clients, are scheduled for release in early 2006.
"CSC continues to apply its extensive experience and research and development investments to enhance the business value of the industryâs most trusted software product brands," said Jim Cook, president of CSC's Financial Services Group. "Our new claims components will deliver business results by enabling insurers to modernize their business processes while protecting their existing investments in people and technology. This makes business process change practical."
Claims Accelerator supports death claims, annuity payouts, disability income, long-term care and Medicare supplement claims. The life and annuity claims management component, which builds on claims processing software pioneered in CSCâs business process outsourcing centers, eliminates paper-based processing while maintaining proper documentation and enforcing insurersâ procedures. CSCâs experience indicates that Claims Accelerator could improve insurersâ claims processing productivity by 50 percent or more, depending on their product portfolios and current level of automation.
CSCâs Claims Desktop is a browser-based system that integrates multiple claim functions, applications and data, enabling adjusters to introduce new capabilities such as claim profiling, claims routing and functional collaboration. From a single Claims Desktop screen, adjusters share data across multiple applications, eliminating the need for redundant entry. Task management software guides adjusters, helping ensure they use their organizationâs expectations and parameters when they investigate, evaluate and resolve claims.
Both Claims Accelerator and Claims Desktop employ an external rules engine, making it easier and faster to define and modify business rules and calculations. The products, which are business process management systems, integrate work management and imaging/document management capabilities along with process orchestration. They also follow the company's enterprise integration architecture, CSC e4, which enables clients to use the potential of new technologies and the embedded value in their legacy systems.
CSC e4 uses open standards such as BPEL and XML, and ACORD's standard for insurance, reinsurance and related financial services industries. CSC e4-compliant systems can be easily configured and rapidly integrated with other applications, both inside and outside the insurerâs enterprise.