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Fair, Isaac Validates Integration Of Insurance Industry Solution With Siebel 7
Combination of Fair, Isaac Insurance Decision System 4.1 and Siebel eInsurance 7 Raises Bar for Speed and Accuracy in Insurance Underwriting
SAN RAFAEL, Calif.--(BUSINESS WIRE)--May 30, 2002-- Fair, Isaac and Company, Incorporated (NYSE:FIC - News), the leading provider of analytics and decision technology, announced today that it has successfully validated the integration of its Fair, Isaac Insurance Decision System(TM) software with Siebel 7, the seventh major release of Siebel eBusiness Applications from Siebel Systems, Inc. (Nasdaq:SEBL - News). Siebel Systems is the world's leading provider of eBusiness applications software.
With this validation, insurance industry customers of Fair, Isaac and Siebel Systems can now significantly enhance customer acquisition, service, and retention efforts in personal property, automobile, group life, individual life, and commercial lines of business. The integrated solution combines Fair, Isaac's analytical and decisioning capabilities with Siebel Systems' customer service and data integration expertise, providing insurance companies with a single source for real-time, risk-based decisioning.
"By partnering with Siebel Systems, Fair, Isaac is giving insurers a unique opportunity for improving the speed, accuracy, and profitability of their underwriting decisions," said Jeffrey Oulton, Vice President Strategy Software, Global Financial Services at Fair, Isaac. "Through the integration of Insurance Decision System and Siebel eInsurance 7, organizations can quickly and effectively translate customer relationship strategy into execution by aligning and rapidly integrating information from all customer touchpoints."
"The integration of Fair, Isaac's advanced decision technology with Siebel 7 delivers compatible architectures, enterprise scope, and best-of-class technology," said Michael Straub, Alliances Technical Director for Siebel Systems. "Ultimately, insurers that adopt this robust, customer-centric solution will enjoy an enhanced competitive position, based on their ability to grow meaningful, long-term relationships with their customers."
Fair, Isaac Insurance Decision System, Version 4.1 supports the definition, testing, automated execution, and analytic review of insurance decision strategies and determines when to access external information -- including motor vehicle reports, credit data, policyholder information, and claims history -- to complete the decision. Business users can design and deploy decision engines that execute their business strategies, predictive models, business rules, and decisions and change them as the business environment changes. The Insurance Decision System helps customers manage underwriting, retention, cross-selling, claims handling, prospect targeting, and collections.
Siebel eInsurance 7 is a comprehensive suite of eBusiness applications that enables insurance companies to manage, synchronize, and coordinate all customer touchpoints across any channel of interaction. Siebel eInsurance 7 also provides industry-specific insurance capabilities to meet the needs of organizations that manage multiple sales and service channels -- including direct sales, captive and independent agencies, brokers, call center customer service and claims service organizations, service providers, and field claims adjusters.
Siebel Systems forms alliances with proven technology leaders to deliver tangible business benefits throughout the enterprise. By choosing Siebel eBusiness Applications and validated partner solutions, Siebel Systems' customers can pursue a best-of-class software acquisition strategy and quickly deploy the very best solution available. The Siebel Validation Program applies rigorous technical scrutiny to evaluate the integration of third-party solutions with Siebel eBusiness Applications. Integrations that meet the rigorous standards of Siebel Systems' testing criteria are validated and documented by the Siebel Alliance Program. Fair, Isaac has been a partner in the Siebel Alliance Program since June 2001.
About Fair, Isaac
Fair, Isaac is the preeminent provider of creative analytics that unlock value for people, businesses and industries. The company's predictive and decision models, information management, software and related consulting services power more than 14 billion decisions a year. Founded in 1956, Fair, Isaac helps thousands of companies in over 60 countries acquire customers more efficiently, retain customers and drive customer value, reduce risk and credit losses, lower operating expenses and enter new markets more profitably. Most leading banks and credit card issuers rely on Fair, Isaac's analytic solutions, as do insurers, retailers, telecommunications providers and other customer-centric companies. Through the www.myfico.com Web site, consumers use the company's FICO® scores, the standard measure of credit risk, to manage their financial health.
Headquartered in San Rafael, California, Fair, Isaac is traded on the New York Stock Exchange (NYSE:FIC - News) and for the fiscal year ended September 30, 2001, reported net income of $46 million on revenues of $329 million. For more information, visit www.fairisaac.com.
Except for historical information contained herein, the statements contained in this press release 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 company's ability to recruit and retain key technical and managerial personnel, the maintenance of its existing relationships with key alliance partners, its ability to continue to develop new and enhanced products and services, competition, regulatory changes applicable to the use of consumer credit and other data and other risks described from time to time in Fair, Isaac's SEC reports, including its Annual Report on Form 10-K for the year ended September 30, 2001, and Form 10-Q for the period ended March 30, 2002. Fair, Isaac disclaims any intent or obligation to update these forward-looking statements.
Note to Editors: Fair, Isaac, FICO and Fair, Isaac Insurance Decision System are trademarks or registered trademarks of Fair, Isaac and Company, Inc., in the United States and/or in other countries. Other product or company names herein may be the trademarks or registered trademarks of their respective owners.
Siebel is a trademark of Siebel Systems, Inc. and may be registered in certain jurisdictions. All other product and company names mentioned are the property of their respective owners and are mentioned for identification purposes only. |
