In The News
02-21-2006
Farmers Insurance Selects Clear Technology to Provide Automation in Med/PIP Claims Operations
Improves Bottom Line and Enhances Customer Service by Automating Non-Strategic Busywork
Westminster, Colorado, 21 February, 2006 -- Clear Technology, Inc. announced today that Farmers Insurance Group®, the third-largest personal lines property and casualty insurance group in the United States, has chosen Clear Technology to automate portions of its medical/personal-injury protection (MED/PIP) claims processing operation. Under the agreement, Farmers will deploy Clear Technology's Med/PIP Claims Processing Solution, enabling a reduction in processing costs, improved processing capacity and enhanced customer service levels.
Already advanced in its use of technology, Farmers will implement Clear Technology's Med/PIP Claims Processing Solution to automate many of the administrative activities that have previously resisted automation. Specifically, Clear Technology will work with Farmers to eliminate redundant work activity, automate manual tasks and increase internal controls in the claims processing resulting in increased efficiency and reduction of operating costs. Additionally, Farmers' employees will gain additional time to focus on serving customers.
"Farmers is dedicated to providing our customers the best in customer service and efficiency," said Bob Evoy, vice president of claims shared services operations. "Clear Technology's ability to analyze the activities of our best employees and provide increased automation will bring Farmers' operations to another level." Evoy continued, "By implementing Clear Technology's Med/PIP Solution on top of our legacy systems, we will achieve unprecedented efficiency in our deployment of critical resources."
"Insurers should streamline the end-to-end claims process to automate and reduce the administrative tasks performed by adjusters and claims professionals, automate simple claims processes and handoffs, support skills-based routing and reduce redundant activities," said Kimberly Harris-Ferrante, Research Vice President for Gartner. "In addition to helping companies reduce claims costs, these types of projects will help insurers improve customer service quality and therefore drive greater customer satisfaction."
On Farmers' selection of Clear Technology, John Kendall, founder and chief executive officer of Clear Technology remarked, "This agreement is a testament to Clear's years of researching the inner-most workings of the insurance industry, both nationally and internationally. We look forward to deploying a solution that will enable Farmers to grow its business and ultimately provide greater service to its customers."
About Clear Technology, Inc. Founded in 1998, Clear Technology's patented Case Handling Software, Tranzax® automates complicated business decisions and non-strategic busywork that has resisted automation using tools such as workflow, rules engines or BPM technologies. Clear's software automates the "last mile" of work that still depends upon legions of back office workers. Clear's clients achieve breakthrough improvements in consistency, accuracy, timeliness, and productivity, resulting in significantly reduced operating costs.
In addition to its Med/PIP Claims Processing Solution, Clear Technology offers other Insurance Solutions including; Subrogation, First Notice of Loss, Bodily Injury Claims, Commercial Underwriting and New Policy Processing/Administration solutions to augment existing claims systems.
Insurance customers include; Farmers Insurance Group, Insurance Australia Group (IAG), Vertex Financial Services, North Carolina Farm Bureau and Norwich Union Insurance in the UK. Privately held Clear Technology is based in Westminster, Colorado, with sales offices throughout the U.S. and in the United Kingdom. For more information, visit www.clear-technology.com.
About Farmers Insurance The Farmers Insurance Group of Companies® comprise the nation's third-largest personal lines property & casualty insurance group - helping to restore the lives of over 15 million customers when the unexpected happens. Headquartered in Los Angeles and doing business in 41 states, these companies provide homeowners, auto, business, recreational products, life insurance and financial services to more than 10 million households through 17,000 exclusive and independent agents and district managers. For an agent near you, call 1-800-FARMERS or visit www.farmers.com.
Safe Harbor Statement This news release may contain forward-looking statements that are based upon certain assumptions and assessments made by management in light of current conditions, expected future developments and other factors it believes to be appropriate. Such statements are subject to risks, uncertainties and other factors that could cause actual results or outcomes to differ materially from those contemplated by the forward-looking statements.
