Claims Management Solution suits self-insured organizations.

Computer Sciences Corp. May 05, 2006

Press Release Summary:

Independent claims and risk management information system, RISKMASTER X, streamlines workflow and case management for end users. With browser interface, its web portal lets clients create one Internet-accessible hub for all claims-related functions. Centralized access enables administrators to manage entire claims process, and business intelligence component uses Business Objects' Web Intelligence to consolidate data from diverse sources and mine it for reporting purposes.

Original Press Release:

CSC Releases RISKMASTER X to Improve Claims and Risk Management for Self-Insured Organizations

EL SEGUNDO, Calif., April 3 -- Computer Sciences Corporation (NYSE:CSC) today announced a new version of RISKMASTER, a leading independent claims and risk management information system. The new release, RISKMASTER X, streamlines workflow and case management for end users and lowers total cost of system ownership by reducing deployment and software maintenance costs.

CSC's RISKMASTER today processes, manages and analyzes claims data for more than 10,000 users at 460 self-insured organizations, public entities and third-party administrators.

RISKMASTER X features an architecture and Web portal model that are new to the self-insured marketplace. The Web portal, which features a browser interface that integrates with other CSC and third-party Web-based applications, allows clients to create one Internet-accessible hub for all claims-related functions. The centralized access -- a first in the industry -- enables administrators to more efficiently manage the entire claims process.

Six CSC clients have participated in RISKMASTER X pre-release testing.

"With CSC's RISKMASTER, we've been able to quickly and efficiently manage claims and track data, including data that we couldn't track before," said Ken Nietzer, vice president of Claims and Operations at Chubb Services, one of CSC's pre-release clients and a RISKMASTER user since 2001. "We anticipate RISKMASTER X will allow our users to work from wherever they can access the Internet. A disaster recovery team, for example, will be able to work from any personal computer that can access our servers."

"RISKMASTER has one of the largest and most active user groups of any claims and risk management system," said Ray August, president of the Property & Casualty Insurance Division of CSC's Financial Services Group. "RISKMASTER X draws on our 20 years of experience in the self-insured marketplace and the guidance of this valuable client community to deliver real business results."

Overall, CSC's RISKMASTER offers an integrated event-to-claims-management process, allowing companies to manage the life of a claim from first notice to final settlement. The system manages a wide variety of critical claims data including: property, casualty, general liability, workers' compensation, automotive liability, first reports of injury, 800-number reporting, accidents, incidents, professional liability, policies, actuarial reporting and integrated disability management. RISKMASTER's business intelligence component uses Business Objects' Web Intelligence to consolidate data from diverse sources and mine it for enhanced real-time and scheduled reporting.

Additional RISKMASTER components help organizations manage outside legal counsel, comply with the U.S. Treasury Office of Foreign Assets Control and evaluate policies for fraud and fault to streamline core business processes, saving time and money.

About CSC

Founded in 1959, Computer Sciences Corporation is a leading global information technology (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 80,000 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 $14.6 billion for the 12 months ended Dec. 30, 2005. For more information, visit the company's Web site at www.csc.com.

CONTACT: Jackie VanErp, Vice President, Marketing, Financial Services Group, +1-512-275-5844, jvanerp@csc.com, or Janet Herin, Manager, Media Relations, Corporate, +1-310-615-1693, jherin@csc.com, both of Computer Sciences Corporation