LONDON, March 5, 2002 — Insurance Services Office (ISO), a leading provider of insurance claims services and information about property and liability risk, has launched version 1.6 of Claims Outcome AdvisorTM (COA), its next-generation personal injury claims management solution. COA V1.6 incorporates significant enhancements to the existing solution to enable claims handlers, for the first time, to easily enter graphically details of 20,000 available injuries, use historical data to make best case estimates, and improve case negotiation with claimants' solicitors. The launch of COA V1.6 is the result of nine months development work in direct response to requests and needs of existing users around the world such as Zurich Financial Services and Highway Insurance, and addresses insurers' demands for proactive management and analysis tools for their personal injury claims portfolios.
COA v1.6's new Graphical Medical Search module provides claims handlers with a graphical representation of the human body to enable injuries and treatments to be monitored using 'point and click' tools. For the first time this enables easier entry of medical conditions by non-medical professionals, for example by clicking on the neck of the image of the human body and clicking the appropriate injury from a menu. The Case Reserve module enables claims handlers to use historical data to make a case estimate based upon similar injuries to provide insurance companies with more accurate information on which to base their reserves. Negotiation History empowers claims handlers to improve case negotiation with claimants' solicitors, track its progress - including offers and counter-offers - and provide an on-screen graphical summary. This enables the seamless hand-over of cases if another claims handler is brought in to handle the case, and provide managers with advanced management tools.
"The powerful tools available with this release of COA are a direct response to the requests and needs of our growing customer base around the world," said Lee Fogle, ISO Vice President. "With the addition of this major new functionality COA will be able to help claims handlers and managers to take control of the multiple dimensions of their personal injury claims business."
David Smart, Business Development Director for ISO added: "The launch of COA v1.6 supports our drive into the UK insurance market, and with recent major orders from leading insurers Zurich Financial Services and Highway Insurance, demonstrates our commitment to providing insurers with tools to improve the management of their personal injury claims portfolios. For the first time, claims handlers will be able to easily enter graphically details of 20,000 available injuries in relation to 14,000 occupations, whilst also benefiting from advanced case management and documentation tools."
About Claims Outcome AdvisorTM (COA)
ISO's Claims Outcome AdvisorTM (COA) solution, supplied by its affiliate, ISO Claims Services, Inc., is the industry's first personal injury claims management solution that manages the multiple dimensions of insurance companies' personal injury claims portfolios. COA understands the severity and recovery implications of over 20,000 medical conditions, including injuries, treatments, complications and pre-existing conditions, and 14,000 occupations. COA helps claims handlers, managers and actuaries manage the unique and complex medical, legal, and occupational issues presented by personal injury claims, and helps ensure appropriate financial arrangements are agreed and implemented. Claims handlers can manage all aspects of a case from first notice of loss to final settlement, including return-to-work plans, rehabilitation and damages.
Insurance Services Office, Inc., Limited (ISO) is the UK subsidiary of Insurance Services Office, Inc. — the premier 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; information about specific locations; fraud-identification tools; and data processing. Around the world, ISO serves insurers, reinsurers, agents, brokers, self-insureds, risk managers, insurance regulators and other government agencies. ISO customers in the UK include Zurich Financial Services, Highway and Farraday Underwriting Limited. For more information on ISO products, contact ISO at firstname.lastname@example.org.
For more information please contact:
David Smart, ISO
Tel: 01252 761351
Philip Szomszor, IBA
Tel: 01780 721433
If you would like to receive this release via e-mail, please contact ISO@iba-europe.com