Software provides predictive underwriting capabilities.
Press Release Summary:
With ability to streamline processes and dashboard views for critical workers' compensation underwriting and claims business, Fiserv Property & Casualty Solutions v6.0 is suited for insurance industry. It includes Policy STAR®, Claims Workstation and Fiserv Advanced Billing for personal and commercial lines, and PowerSuite(TM) for workers' compensation. Software offers Oracle support along with upgrades in SQL and rules engine used.
Original Press Release:
Release 6.0 of Fiserv Property & Casualty Solutions Adds Key Business and Technology Enhancements
Brookfield, Wis., June 2, 2008 -- Fiserv, Inc. (NASDAQ: FISV), a leading provider of technology solutions for the financial and insurance industries, announced today that applications from its suite of Property & Casualty solutions are aligning under a common release number, 6.0. The release adds nearly 120 new enhancements to core solutions including the market-leading Policy STAR®, Claims Workstation and Fiserv Advanced Billing for personal and commercial lines, and PowerSuite(TM) for workers' compensation.
"The 6.0 release is significant because of the scope of the new enhancements it contains. In addition, it represents the completion of the first phase in bringing these systems to a common base and integrating our leading assets into one, all-lines, P&C solution," said Gary Sherne, president of Property & Casualty Systems Solutions for Fiserv Insurance. "The next phases of this initiative will include synchronizing the service oriented architectures and user interfaces to deliver truly innovative solutions with seamless processing."
Version 6.0 includes predictive underwriting capabilities that streamline processes and dashboard views for critical workers' comp underwriting and claims business.. In addition, platform upgrades have been added to deliver significant performance gains. The release also includes Oracle support along with upgrades in SQL and the rules
engine used. Sherne added that insurers will have the option of using the integrated solution set or best-of-breed components.
Fiserv is committed to continuous improvement, and subsequent releases will deliver additional enhancements to each of these function-rich solutions.
About Fiserv Insurance
Hundreds of Life, P&C, Health, and Reinsurance carriers, managing general agents, and administrators rely on
Fiserv for innovative insurance technology, professional services, and outsourcing solutions. Fiserv solutions include
insurance policy and claims administration, underwriting, rating, advanced billing and collections, point-of-sale technology and straight-through processing solutions. In addition, more than 3,000 clients use the company's
market-leading financial and compliance solutions. Fiserv can be found on the Internet at fiservinsurance.com.
About Fiserv, Inc.
Fiserv, Inc. (NASDAQ: FISV), a Fortune 500 company, provides information management and electronic commerce
systems and services to the financial and insurance industries. Leading services include transaction processing,
outsourcing, electronic bill payment and presentment, investment management solutions, business process
outsourcing (BPO), software and systems solutions. Headquartered in Brookfield, Wis., the company is the leading
provider of core processing solutions for U.S. banks, credit unions and thrifts.
Fiserv was ranked the largest
provider of information technology services to the financial services industry worldwide in the 2004, 2005 and
2006 FinTech 100 surveys. In 2007, the company completed the acquisition of CheckFree, a leading provider of
electronic commerce services. Fiserv reported nearly $4 billion in total revenue from continuing operations for
2007.
For more information, please visit www.fiserv.com.
Additional Contacts:
Lori Soppe
Vice President-Public Relations
Fiserv Insurance
Lori.Soppe@fiserv.com
(319) 398-0548
For more information contact:
Eddie Jones
Senior VP, Marketing & Product Management
Fiserv Insurance
(803) 476-1468
Eddie.jones@fiserv.com
