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Patni Selects Captiva's ClaimPack to Provide Insurance Claims Processing Services; BPO Firm Will Leverage the Solution to Expand its Business.

SAN DIEGO -- Captiva Software Corporation (NASDAQ:CPTV), a leading provider of input management solutions, today announced that Patni Computer Systems, one of India's leading information technology services companies, has selected ClaimPack(TM), Captiva's award-winning claims processing solution, to enhance its business process outsourcing (BPO) suite and offer automated medical claims processing services to insurance companies. The value of the contract to Captiva is approximately $300,000.

Patni will utilize ClaimPack to process both medical and property and casualty claims for insurance companies. Patni's BPO suite offers insurers a way to reduce the high administrative and staffing costs associated with the manual processing of claims in-house, while also speeding claim turnaround time and increasing audit transparency.

"We evaluated all of the leading claims processing solutions on the market and ClaimPack came out on top," said Bill Budde, Senior Vice President and Head of Patni's Insurance Business Unit. "With ClaimPack, we'll be better able to reduce administrative overhead while providing consistent, quality claim outcomes for our claims BPO customers."

"We're pleased Patni is leveraging ClaimPack for its claims processing services. Our software will enable Patni to provide the most cost effective, accurate and timely claims processing services available today," said Mark Earles, Captiva's Vice President of Healthcare Solutions.

A pioneer in offshore and outsourced services to global insurance companies, Patni has many years of experience in developing and maintaining claims applications, including the largest automobile insurance claims system in the world.

ClaimPack automates data and image capture from complex paper and electronic claim forms. Utilizing the latest in scanning, image processing and recognition technologies, ClaimPack automatically reads the information from claim forms, analyzes, corrects and validates the data and exports it into enterprise systems. The streamlined process reduces manual data entry costs and processing times, increases the accuracy of the data collected and improves customer service by speeding claim turnaround time.

About Patni

Patni Computer Systems is a global IT services provider servicing Global 2000 clients. The company caters to its clients through its industry-focused practices, including insurance, manufacturing, financial services, telecommunications and technology. With over 10,000 employees and multiple offshore development facilities across eight cities, Patni has 26 international offices throughout the Americas, Europe and Asia-Pacific. Its service offerings include application development, application maintenance and support, packaged software implementation, infrastructure management services, product engineering services, business process outsourcing and quality assurance services. For more information, visit www.patni.com.

About Captiva Software Corporation

Captiva Software Corporation (NASDAQ:CPTV) is a leading provider of input management software solutions. Since 1989, the company's award-winning products have been used to manage business critical information from paper, faxed and scanned forms and documents, Internet forms and XML data streams into the enterprise in a more accurate, timely and cost-effective manner. These products automate the processing of billions of forms and documents annually, converting their contents into information that is usable in database, document, content and other information management systems. Captiva's technology serves thousands of users in insurance, financial services, government, business process outsourcing, direct marketing and other markets. For more information, visit www.captivasoftware.com.

ClaimPack is a trademark of Captiva Software Corporation. All other trademarks or registered trademarks are the property of their respective owners.

This press release may contain forward-looking statements that involve risks and uncertainties, as well as assumptions that, if they prove incorrect, could cause our results to differ materially from those expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including, among other things, any projections of earnings, revenues (including where the underlying contract has already been signed), or other financial items; any statements of the plans, strategies, and objectives of management for future operations; any statements concerning proposed new products, services, or developments; any statements regarding future economic conditions or performance; statements of belief and any statement of assumptions underlying any of the foregoing. The risks, uncertainties and assumptions referred to above include, among other things, performance of contracts by customers and partners; employee management issues; the timely development, production and acceptance of products and services and their feature sets; the challenge of managing asset levels, including inventory; the flow of products into third-party distribution channels; and the difficulty of keeping expense growth at modest levels while increasing revenues. Announcements of contract awards should not be interpreted as reflecting revenue in any particular period and may relate to revenue recorded in prior periods. These and other risks and factors that could cause events or our results to differ from those expressed or implied by such forward-looking statements are described in our most recent annual report on Form 10-K and quarterly reports on Form 10-Q, as well as other subsequent filings with the Securities and Exchange Commission. We assume no obligation and do not intend to update these forward-looking statements.
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Publication:Business Wire
Geographic Code:1USA
Date:May 17, 2005
Words:805
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