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May 24, 2010
MINNEAPOLIS—May 24, 2010—FICO (NYSE:FICO), the leading provider of analytics and decision management technology, today announced it is working with Microsoft Corp. (Nasdaq:MSFT) to integrate FICO and Microsoft technologies into a comprehensive, end-to-end solution for insurance claims processing. The solution, available now, allows insurers to process claims on a single decisioning platform from first notification of loss (FNOL) all the way through claims payment, resulting in more prompt and accurate adjustment and processing. Microsoft is presenting the solution at the 2010 ACORD LOMA Insurance Systems Forum, which starts today in Las Vegas.
Suited to both auto and general property/casualty claims management, the new offering integrates the award-winning FICO™ Blaze Advisor® business rules management system (BRMS) into a platform comprising Microsoft Office 2010, Microsoft SharePoint 2010, Microsoft Dynamics CRM and other components. Blaze Advisor automates decisions at critical junctures in the claims process, including the assignment of the claims manager and field adjuster based on attributes reflected in the claim. It also performs a basic fraud check to detect duplicate claim submissions.
“For insurers, building solutions around the customer is central to improved satisfaction and policy renewal,” said Kim Akers, general manager for global partners at Microsoft. “Combining FICO’s top BRMS technology with Microsoft’s proven platform will enable insurers to become more agile, responsive and efficient for their customers — the keys to their success.”Besides using FICO™ Blaze Advisor® for rules-based decisions, the solution leverages a range of Microsoft technologies, including: Windows Phone for customer FNOL claim submission (via smartphone); SharePoint 2010 and Visio Services for claim intake and photo and police report capture; Microsoft Silverlight and Microsoft SharePoint for claims process visualization and submission; Bing Maps for claim location detection; SharePoint 2010 and Microsoft Excel 2010 for claims business intelligence; and Microsoft Dynamics CRM/xRM for processing. Users will be able to choose either on-site or “cloud” deployment.
“Insurers are actively looking for ways to control their operating costs and reduce inefficiencies in the claims process,” said Russ Schreiber, vice president for Insurance at FICO. “By supporting the popular Microsoft technologies that many insurers already use, FICO Blaze Advisor eliminates bottlenecks and workarounds, and helps streamline the claims workflow. Both the customer and the carrier win.”
About FICOFICO (NYSE:FICO) transforms business by making every decision count. FICO’s Decision Management solutions combine trusted advice, world-class analytics and innovative applications to give organizations the power to automate, improve and connect decisions across their business. Clients in 80 countries work with FICO to increase customer loyalty and profitability, cut fraud losses, manage credit risk, meet regulatory and competitive demands, and rapidly build market share. FICO also helps millions of individuals manage their credit health through the www.myFICO.com website.
FICO Statement Concerning Forward-Looking Information Except for historical information contained herein, the statements contained in this news release that relate to FICO or its business are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including the success of the company’s Decision Management strategy and reengineering plan, the maintenance of its existing relationships and ability to create new relationships with customers and key alliance partners, its ability to continue to develop new and enhanced products and services, its ability to recruit and retain key technical and managerial personnel, competition, regulatory changes applicable to the use of consumer credit and other data, the failure to realize the anticipated benefits of any acquisitions, continuing material adverse developments in global economic conditions, and other risks described from time to time in FICO’s SEC reports, including its Annual Report on Form 10-K for the year ended September 30, 2009, and its last quarterly report on Form 10-Q for the period ended March 31, 2010. If any of these risks or uncertainties materializes, FICO’s results could differ materially from its expectations. FICO disclaims any intent or obligation to update these forward-looking statements.
FICO and Blaze Advisor are trademarks or registered trademarks of Fair Isaac Corporation in the United States and other countries.
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