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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 San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay.  -- Captiva Software Captiva Software is now part of EMC Software Group, a division of EMC Corporation.[1] Captiva makes software solutions for document information processing and data capture from paper and electronic documents and provides related services.  Corporation (NASDAQ NASDAQ
 in full National Association of Securities Dealers Automated Quotations

U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on
:CPTV CPTV Connecticut Public Television ), a leading provider of input management solutions, today announced that Patni Computer Systems Patni Computer Systems Ltd., is a provider of Information Technology services and business solutions. The company employs over 14,000 people, and has 23 international offices across the Americas, Europe and Asia-Pacific,as well as offshore development centers in 8 cities in India. , 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 Business process outsourcing (BPO) is the contracting of a specific business task, such as payroll, to a third-party service provider. Usually, BPO is implemented as a cost-saving measure for tasks that a company requires but does not depend upon to maintain its position in  (BPO BPO Business Process Outsourcing
BPO Benevolent & Protective Order (of Elks of the USA)
BPO Benzoyl Peroxide
BPO Business Process Optimization
BPO Broker Price Opinions
BPO Buffalo Philharmonic Orchestra
) 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 (1) In batch processing, the time it takes to receive finished reports after submission of documents or files for processing. In an online environment, turnaround time is the same as response 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 image processing

Set of computational techniques for analyzing, enhancing, compressing, and reconstructing images. Its main components are importing, in which an image is captured through scanning or digital photography; analysis and manipulation of the image, accomplished
 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 The examples and perspective in this article or section may not represent a worldwide view of the subject.
Please [ improve this article] or discuss the issue on the talk page.
, 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 See software package.  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 XML
 in full Extensible Markup Language.

Markup language developed to be a simplified and more structural version of SGML. It incorporates features of HTML (e.g., hypertext linking), but is designed to overcome some of HTML's limitations.
 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 Form 10-K

A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information.


Form 10-K

See 10-K.
 and quarterly reports on Form 10-Q Form 10-Q

See 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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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2005, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Geographic Code:1USA
Date:May 17, 2005
Words:805
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