Services enable insurance carriers to better control their legal expenses
Wilton, CT, Nov. 14, 2006 � Fiserv Insurance Solutions, a unit of Fiserv Inc. (Nasdaq: FISV), and Allegient Systems today announced a strategic alliance to offer Allegient�s legal bill auditing and business analysis services to Fiserv customers. With access to Allegient�s system and services, Fiserv Insurance clients will be able to better control and manage their legal expenses and integrate workflow management in their legal departments.
Through the companies� collaborative efforts, Allegient�s bill review application service provider (ASP)-delivered solution will be integrated with the Fiserv Claims Workstation application to automate end-to-end claims processing. Legal and insurance adjuster bills will be electronically submitted to Allegient�s system, which will accommodate the unique claim and processing requirements of each Fiserv insurance carrier client. The Allegient system will also offer Fiserv clients extensive and sophisticated auditing and interfaces with accounts payable systems, as well as a powerful business analysis suite to help the carriers fully understand their legal spending patterns and make informed decisions on how to best utilize outside counsel.
�We are excited to be working with Fiserv, an industry leader, to offer our solutions and services to the company�s impressive client base,� said John F. Kelly, chief executive officer at Allegient. �Because we understand the insurance business and employ seasoned professionals from the industry, our solutions are designed and developed specifically for insurance carriers. Through a combination of our system and our consulting services, we provide our insurance-carrier clients with a best practices legal bill review capability that consistently improves process efficiencies and reduces costs.�
�Working with Allegient will enable us to offer carriers an even more efficient solution set that promotes accuracy and streamlines legal work,� said Mike Key, executive vice president of Enterprise P&C solutions for Fiserv Insurance Solutions. �This relationship expands the capabilities of our Claims Workstation. It also demonstrates our continued commitment to innovation and to developing alliance partnerships with best-of-breed solution providers.�
About Allegient Systems
For more than 15 years, Allegient Systems has been both the pioneer and leader in providing legal expense and performance management systems and services that maximize the potential and the profitability of professional legal service relationships between law firms and corporate law departments or claims organizations.
Allegient�s web-based offering delivers collaboration, efficiency and productivity to the litigation management process by using electronic invoicing, online bill review, budgeting, workflow management and a sophisticated rules engine. Allegient�s Business Intelligence capabilities � using Hyperion-based query and analytics tools � allow users to access, analyze and share data for the purpose of improving litigation expense, performance and outcome.
Allegient is headquartered in Wilton, CT and has sales and support facilities in Chicago, IL and Toronto, ON.
For additional information, please visit www.allegientsystems.com.
About Fiserv Insurance Solutions
Fiserv Insurance Solutions specializes in progressive software and outsourcing solutions for the insurance industry. Hundreds of carriers, managing general agents and third-party administrators rely on Fiserv for business process management, policy, rating, claims, billing and reinsurance administration, as well as point-of-sale solutions and straight-through processing. In addition, more than 3,000 companies use the company’s market-leading financial and compliance solutions. Fiserv Insurance Solutions can be found on the Internet at www.fiservinsurance.com.
About Fiserv Inc.
Fiserv Inc. (Nasdaq: FISV), a Fortune 500 company, provides information management systems and services to the financial and health benefits industries. Leading services include transaction processing, outsourcing, business process outsourcing, software and systems solutions. The company serves more than 17,000 clients worldwide and is the leading provider of core processing solutions for U.S. banks, credit unions and thrifts. Fiserv was ranked the largest provider of information technology services to the financial services industry worldwide in the 2005 and 2004 FinTech 100 surveys. Fiserv Health provides health plan management, pharmacy benefits management, and BPO services to the managed care market and self-funded commercial and government employers and health plans. Headquartered in Brookfield, Wis., Fiserv reported more than $4 billion in total revenue for 2005. For more information, please visit www.fiserv.com.