Adrienne Routledge
Sapphire PR
Tel: 0208 249 6555
> Email
Caroline Harrison
Sapphire PR
Tel: 0208 249 6555
> Email
Francoise Dibben
CSC's Financial Services Group, EMEA
Tel: 01252 536492
> Email
News Release-- June 15, 2005
CSC AND CONVERSANT DATA ANNOUNCE NEW ‘ADVANCES’ CUSTOMER
Aldershot, 15 June 2005 – Computer Sciences Corporation (NYSE: CSC), a leading global information technology (IT) services firm, and Conversant Data Limited (CDL), a leading UK anti-fraud services provider, announced today that Link Insurance, a specialist UK retail insurer, is deploying Advances, the first automated fraud detection service for UK insurers.
Advances, which was launched in September 2004, combines Conversant Data’s claims fraud detection and prevention expertise with CSC’s Fraud Evaluator, a comprehensive software tool for early detection of potential claims fraud, to deliver in-depth analysis and scoring of claims data. Link Insurance will use Advances within its motor claims department for data matching, validation and full-case investigation.
“Advances addresses our anti-fraud strategy by blending a best-of-breed data solution from CSC with industry-leading skills and expertise offered by CDL,” said Trevor Webb, claims director, Link Insurance. “This enables us to both contain our claims costs and still maintain the high quality of service provided by our claims team, for which we’re renowned. The ability for insurers to demonstrate a strong lead against fraud is critical, and our relationship with CSC and CDL allows us to do just this.”
The Association of British Insurers estimates that around £1 billion is lost annually to fraudulent claims in personal lines alone and that at least 10 percent of claims have some fraudulent aspect to them. Because Advances can be deployed at different service levels and is fully scaleable, even the smallest insurer can cost effectively combat the growing incidence of insurance fraud and achieve significant savings.
“The huge interest in Advances proves the business case for this combined solution,” said Mark Jones, CDL managing director. “We’re delighted to welcome Link Insurance to our customer base.”
“Insurers need to be particularly vigilant to avoid paying out on fraudulent claims,” added John Maitz, CSC's vice president and head of general insurance for Europe, the Middle East and Africa. “Advances enables insurers to combat the growing incidence of insurance fraud for a very low cost and with an immediate result from day one.”
Advances is available now for motor and household claims, with travel and other classes of business to follow.
About Link Insurance
Link Insurance Company Limited “Link” was licensed by the Financial Services Commission (FSC) in Gibraltar in November 2003 to write motor, home and accident and health classes of business and commenced trading on 1 January 2004, passporting into the UK and Ireland. Link is regulated by the FSC in Gibraltar and by the FSA in the UK in respect of UK business. Link is a wholly owned subsidiary of Guardian Holdings Limited “Guardian”. Based in Trinidad and voted Caribbean Company of the Year in 2000, Guardian’s regional team of financial professionals offers integrated financial services in life and general insurance, asset management, commercial property and infrastructure development throughout the Caribbean.
About Conversant Data
Founded in 2003, Conversant Data Ltd is a leading fraud prevention, detection and investigation company. Conversant Data’s core focus is to provide customers in the financial services sector with data matching and mining technology coupled with the application of investigative psychology.
Conversant Data provides flexible and cost effective solutions for customers by applying CSC’s leading technology and its own highly developed fraud and academic skills. These include links to the Centre of Investigative Psychology, headed by Professor David Canter, a world leading expert in Criminal Profiling; innovative data providers; and organisations such as CIFAS, the UK’s Fraud Prevention Service.
For more information, visit the company’s Web site at www.conversantdata.com
About CSC
Founded in 1959, Computer Sciences Corporation is a leading global IT services company. CSC's mission is to provide customers in industry and government with solutions crafted to meet their specific challenges and enable them to profit from the advanced use of technology.
With approximately 79,000 employees, CSC provides innovative solutions for customers around the world by applying leading technologies and CSC's own advanced capabilities. These include systems design and integration; IT and business process outsourcing; applications software development; Web and application hosting; and management consulting. Headquartered in El Segundo, Calif., CSC reported revenue of $14.1 billion from continuing operations for the 12 months ended April 1, 2005. For more information, visit the company's Web site at www.csc.com.
