CSC has unveiled RISKMASTER Accelerator, a combination of CSC’s RISKMASTER platform, and CSC’s Advanced Claims software for North American insurers.
“If you are a RISKMASTER customer or if you are an Advanced Claims customer, the next release that you get from CSC will have the goodness of both platforms brought together in a single system,” said Nancy Bass, VP of American Insurance Marketing for CSC. “They can choose when they want to upgrade to it; it comes preloaded with all the business rules, it’s a much more robust platform for our P&C carriers.”
RISKMASTER Accelerator, the company said, is an end-to-end claims system developed to improve claims processes for any North American entity handling property/casualty claims, including carriers, third-party claims administrators, municipalities, managing general agents, insurance pools and self-insured companies.
“After a thorough evaluation of the claims marketplace, discussion with clients and analysis of our software assets, we decided to invest in a common claims solution for the future to help our clients advance their claims processing capabilities,” said Jeffery Schwalk, president of CSC’s Property and Casualty Insurance Division. “The result is RISKMASTER Accelerator.”
CSC said the application is configurable, multilingual, and handles multiple currencies. It is based on a Web-based service-oriented architecture for fast implementation on site, in a CSC-hosted environment or as software as a service (SaaS). The application is integrated with CSC’s mobile and analytics capabilities, as well as with CSC’s Legal Solutions Suite, the company said.
“In a competitive environment, companies are continuously identifying ways to reduce costs, grow profits, retain customers and grow their customer base through improved claims and customer service interactions,” said Kimberly Harris-Ferrante, VP and distinguished analyst at Gartner. “Adoption of modern claims management systems can provide significant value, including lower total cost of ownership when legacy systems are decommissioned, faster rules and workflow changes, easier integration with surrounding systems and improved long-term maintenance.
CSC is developing customized migration plans for existing clients, as they schedule their move to RISKMASTER Accelerator. In addition, maintenance and support will continue for Advanced Claims and RISKMASTER, reflecting their importance to many of the nation’s risk and claims departments.
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