Pegasystems Enhances Claims Management Solution for Insurers

CAMBRIDGE, Mass. – May 9, 2012 – Pegasystems Inc. (NASDAQ: PEGA), the leader in business process management (BPM) and software for customer centricity, today announced a significant upgrade to its robust insurance claims solution, which revolutionizes claims management and drives predictable business outcomes for insurers. Pega will demonstrate the solution’s capabilities at Booth #903 at the annual ACORD LOMA Conference on May 15-17.

With the newly enhanced Pega Claims for Insurance solution, insurers can rapidly transform their claims operations to realize dramatic cost reductions and significant improvements in customer satisfaction and retention rates.  The solution, which has been recognized by a leading analyst firm, provides greater ease-of-use and faster time to value to support the diverse claims management needs of carriers and their policyholders.  The extensible and configurable solution, with built-in support for multi-channel servicing, means business users can adapt quickly to changing market or business needs. The results are differentiated claims solutions that can reduce leakage and indemnity costs in 90 days or less.

Pega Claims for Insurance features several improvements, including expanded Special Investigations Unit (SIU) and appraisal case management capabilities which can be used to augment existing claims technology platforms.  It also provides expanded case management and mobile applications capabilities that enable carriers to deliver improved total claim and service experience outcomes.

As a recognized industry leader, Pega enables insurers to create competitive advantages by improving the operational efficiency of their claims organizations.  Pega clients, leveraging many solution features unmatched by other vendors, have deployed innovative, award-winning claims initiatives to drive efficiencies across lines of business, channels and geographies. 

Supporting Quotes:

Matthew Josefowicz, Partner and Managing Director at Novarica:

“With the proliferation of new channels, products, and data sources, insurers cannot afford to risk their claims operations on outdated, inflexible technology.  Insurers with highly automated, flexible claims operations are not only gaining efficiency, but improving bottom-line results.  Insurers whose operations are held back by inadequate technology are not going to be able to compete effectively.”

Leo Sugg, Insurance Business Leader for Pegasystems:

“Today, more than ever, property and casualty insurers need advanced, flexible technology that they can depend on to drive business value and customer satisfaction across all their operations.  They need a market-proven claims solution that lowers claims service costs and reduces complexities.  Pega’s claims solution drives business benefits at many of the world’s largest insurers, and these latest enhancements enable insurers to achieve predictable business outcomes.”

Supporting Resources:

For more information on the solution, visit: http://www.pega.com/resources/pega-claims-for-property-and-casualty-insurers

For more information on Pegasystems’ insurance solutions, visit:

http://pega.com/industries/insurance/bpm-insurance.asp and http://www.pega.com/solutions/by-industry/insurance/policy-service-and-administration

To read a white paper on keys to claims optimization, visit: http://www.pega.com/resources/six-keys-to-claims-optimization