Press Release
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CSC ADDS INFOGLIDE TECHNOLOGY TO FINANCIAL SERVICES COST CONTAINMENT OFFERINGS
AUSTIN, Texas, June 25, 2001 - InfoGlide Corporation, a pioneer in similarity engine software technology, announced today that it has signed a strategic alliance with Computer Sciences Corporation (NYSE: CSC). The alliance establishes a worldwide agreement with CSC for the cooperative development and marketing of products and services for the property and casualty insurance market.
Additionally, InfoGlide has granted CSC exclusive, global rights to resell the company's Fraud Investigator software. Fraud Investigator is an advanced application of InfoGlide's Similarity Engine developed specifically for the property and casualty insurance Special Investigations Unit (SIU) market. Because insurance fraud is a $26 billion per year problem, many states have mandated that insurers establish SIUs to implement anti-fraud programs. The agreement allows InfoGlide to strengthen market penetration and substantially increase revenues from its horizontal platform product, Similarity Engine.
“InfoGlide's clients include the leading U.S. insurer of autos and homes as well as other top ten insurers," said Michael Shultz, CEO of InfoGlide. “We enable our clients to better access the knowledge in their data so that they can effectively drive business decisions and implement best practices.
“Joining forces with CSC allows InfoGlide to work closely with the lead systems integrator in the financial services market and further strengthens our established position in this multibillion-dollar industry. CSC's adoption of Similarity Engine will facilitate large-scale deployment of our tools in this market," he added.
“CSC continually seeks best-of-breed offerings and tools that will deliver claims consistency and improved financial performance to our clients," said Joe Jensen, executive vice president of Cost Containment Solutions for CSC's Financial Services Group in the Americas. “InfoGlide's Similarity Engine and Fraud Investigator, when packaged with CSC's core claims solutions, will not only reduce the impact of fraud, but will assist our clients in delivering fast, fair and appropriate claims settlements and customer service."
About Computer Sciences Corporation
Computer Sciences Corporation, one of the world's leading consulting
and information technology (IT) services firms, helps clients in
industry and government achieve strategic and operational results
through the use of technology. The company's success is based on
its culture of working collaboratively with clients to develop
innovative technology strategies and solutions that address specific
business challenges.
Having guided clients through every major wave of change in information technology since 1959, CSC combines the newest technologies with its capabilities in consulting, systems design and integration, IT and business process outsourcing, applications software, and Web and application hosting to meet the individual needs of global corporations and organizations. With nearly 68,000 employees in locations worldwide, CSC had revenues of $10.5 billion for the twelve months ended March 30, 2001. It is headquartered in El Segundo, California. For more information, visit the company's Web site at www.csc.com.
About Infoglide Corporation
Founded in 1991, InfoGlide Corporation (www.infoglide.com)
is a pioneer and leader in similarity search technology for e-commerce
and Internet-based content systems. InfoGlide develops and markets
scaleable software applications designed to enhance XML and database
searches. InfoGlide’s core technology, the patented XML Similarity
Search Engine™, identifies similarities within the structured
data with multiple attributes. This unique technology applies refined
measures and assigns variable weights to data resulting in a more
accurate identity match. InfoGlide’s technology has a range of applications
from searching complex product catalogs to identifying fraud. InfoGlide
is headquartered in Austin, Texas.
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Infoglide®, Infoglide Software™, Infoglide Software logo, and Bladeworks™ are trademarks of Infoglide Software Corporation. All other company or product names are the registered trademarks or trademarks of their respective owners.
