News Release-- April 29, 1999
NEW SALES REINFORCE CSC'S LEADERSHIP IN BODILY INJURY CLAIMS TECHNOLOGY
Austin, Texas, April 29 -- Computer Sciences Corporation (NYSE: CSC) today announced five new sales of its COLOSSUS software application, strengthening CSC's position as the industry standard-setter in bodily injury claims intelligence and technology for the insurance industry.
COLOSSUS, one of CSC's casualty claims management solutions, is the most comprehensive knowledge-based claims system used by the property and casualty insurance industry today. Through interactive consultations and its repository of insurance and medical knowledge, COLOSSUS helps customers assimilate and examine facts pertinent to bodily injury claims.
"COLOSSUS takes the guess work out of an historically subjective segment of the claims process, providing adjusters with a powerful tool for improving claims valuation consistency, increasing productivity and containing costs," said Ken Williams, president of the Americas Division of CSC's Financial Services Group. "COLOSSUS sets the industry standard by basing pain and suffering evaluations on the severity of actual injuries and provides claims professionals with a valuation range for each claim."
Companies that have recently purchased COLOSSUS include Atlantic Mutual Insurance Company, Highlands Insurance Group, Horace Mann Educators Corporation, National Farmers Union Property and Casualty Company, and Utica Mutual Insurance Company.
"The COLOSSUS system will help us improve the quality of our bodily injury claim evaluations and facilitate efforts to ensure a consistent approach is used to determine damages and properly value injury cases," said Mike Fanale, vice president of Casualty Claim, Highlands Insurance Group. "Our staff of claim professionals now have another tool to use as they evaluate, negotiate and appropriately resolve their claims in a thoughtful and consistent fashion."
According to Senior Vice President of Claims Rod Blumhardt at National Farmers Union, COLOSSUS has instilled more confidence in the company's claim professionals by providing them with the expertise to negotiate complex bodily injury claims.
"Since we launched COLOSSUS in January, I can already see increased confidence levels in my claim handlers in negotiating claims and taking them to settlement," said Blumhardt. "COLOSSUS is an outstanding tool to help us achieve consistency and thorough knowledge of the claim. We believe COLOSSUS will help us reach our company goal to provide fair, consistent and timely settlements to claimants."
CSC's Financial Services Group offers a comprehensive array of business and technology solutions which support the complex requirements of the evolving global financial services industry. Customers include more than 1,000 banks, insurers, investment firms, consumer finance companies and other major financial services organizations around the globe.
Computer Sciences Corporation helps clients in industry and government use information technology to achieve strategic and operational objectives. The company develops individual business solutions that are delivered by CSC's 50,000 employees in more than 700 offices worldwide in areas such as management and information technology consulting, systems consulting and integration, operations support and information services outsourcing.
Since its formation in 1959, CSC has been known for its flexibility in its relationships with clients. The company maintains numerous agreements with hardware and software technology companies and thus is able to identify and manage solutions specifically tailored to each client's needs. Headquartered in El Segundo, California, CSC had revenues of $7.4 billion for the twelve months ended January 1, 1999. For more information, visit the company's web site at www.csc.com.