NEW YORK, Dec. 21, 2000 — Insurance Services Office, Inc. (ISO) has entered into an agreement with Computer Sciences Corp. (CSC) based in El Segundo, Calif., and Mynd Corp., based in Columbia, S. C., to acquire Claims Outcome Advisor (COATM), a bodily-injury claims-management system. The terms of the transaction were not disclosed.
With customers in the United States, the United Kingdom and Australia, COA provides information on workers compensation and other bodily-injury claims.
COA provides information on 12,700 medical conditions, including injuries, treatments, complications and preexisting conditions, and 14,000 occupations. COA helps claims adjusters manage the unique and complex medical, legal, and occupational issues presented by bodily-injury claims, and helps determine the most favorable financial outcome.
Claims specialists can request detailed return-to-work plans that cover a wide range of circumstances, including full and graduated return to pre-injury occupations, or return to work in different jobs with comparable skill levels.
"At a time when allocated loss and loss-adjustment expenses remain a severe drag on property/casualty insurer profits, we're glad to offer our customers an effective solution that will bring speed and economies to claims management," said Frank J. Coyne, ISO's president and chief executive officer. "We are pleased to add COA to ISO's growing array of claims-services solutions, most notably ISO ClaimSearch®, our claims-information system for fraud detection."
Coyne said the change in COA's ownership will be transparent to its present users. COA will continue to be provided from Columbia S. C.
ISO is a leading source of information, products and services related to property and liability risk. For a broad spectrum of commercial and personal lines of insurance, ISO provides statistical, actuarial, underwriting and claims information and analyses; consulting and technical services; policy language; and information about specific locations. In the United States and around the world, ISO serves insurers and reinsurers, as well as agents, brokers, self-insureds, risk managers, insurance regulators and other government agencies.