Solution Developed by Key Members of Open Claims Alliance Helps Reduce Claims Management Costs and Enhances Quality of Service for Customers
ORLANDO, June 09, 2008 - Pitney Bowes Group 1 Software today announced it has entered an alliance with Sun Microsystems Inc to provide insurance companies with an integrated management solution for the quick and efficient handling of non-life and life insurance claims. As a key member of the Open Claims Alliance (OCA), Pitney Bowes Group 1 Software and its partners have developed a solution that enables insurance companies to process claims more rapidly, reduce operational costs and better identify claimants.
The OCA is comprised of The Claims Company, business process consultants, and four technology partners: Sun, Group 1 Software, edge IPK and Haley Limited. Through innovative processes and seamless technology integration, the solution helps reduce operational risks and costs. The integrated claims solution empowers insurance carriers to process claims in minutes rather than days while optimizing the resources spent on claims investigation. Additionally, by enhancing the experience for genuine claimants, the solution can help increase loyalty and customer retention.
“Sun Microsystems is excited about the prospect of delivering a best-of-breed, composite application with its partners to the insurance industry. The modular approach of this application and transactional pricing options available through our software-as-a-service (SaaS) program, Solaris On Demand, create a real difference in the way insurers can address this key core system replacement,” said Brian Turner, head of insurance for America's and Europe, Sun Microsystems. “A key feature is that the solution takes existing proven technologies and combines this with knowledge from specialized insurance claims consultants to provide a world class application, which empowers the business to maintain process, rules and output, while allowing the IT divisions to focus on integration, development and governance.”
The solution uses Sun’s Java CAPS™ integration software and can be run on any IT infrastructure. It is delivered in a SaaS model that fully integrates composite applications and provides a platform for expansion. The service oriented architecture provides a scalable platform that helps drive more value from existing IT infrastructure.
“Sun’s Integrated Claims Solution helps CEOs, CFOs, risk managers and claims departments make informed decisions on accurate, timely data,” said Bill Sinn, strategic industry manager, insurance, Pitney Bowes Group 1 Software. “Designed by industry experts who know what the industry needs to be successful, this solution is easy to deploy and avoids the need for major investments in infrastructure. As a key member of the OCA, we are committed to developing innovative solutions that help insurers provide top quality customer care and at the same time, help reduce costs.”
About Pitney Bowes Group 1 Software
Pitney Bowes Group 1 Software, part of Pitney Bowes, Inc. (NYSE:PBI), provides innovative software solutions that help more than 3,000 organizations maximize the value of customer data to improve profitability, increase effectiveness, strengthen customer relationships and streamline mailroom operations. Industry leaders - Entergy, ING, L.L. Bean, MapQuest, Microsoft, Safeco Insurance, Wal-Mart and Wells Fargo - rely on the company's solutions. Visit www.g1.com and www.pb.com for more information.
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Of Note
This press release contains forward-looking statements that involve risks and uncertainties. For this purpose, any statement that is not a statement of historical fact is a forward-looking statement, including without limitation statements concerning market demand for Group 1 Software’s products and solutions, the potential benefits of Group 1’s software to customers, and the integration of Group 1’s software offerings with existing solutions. Factors that may cause these statements not to be true or to differ materially from the manner in which they are presented include potential difficulties related to third party integration of Group 1’s software, market acceptance of Group 1’s offerings, decreased spending by customers or potential customers on technology solutions and the impact of economic trends that affect generally the market for Group 1’s software and other product offerings. Group 1 takes no responsibility to update any forward-looking statements.