Tandem Offers Claims Analysis Application for Insurers; Aims to Control Costs, Streamline Operations

In a move it says is targeted at combating the US$120 billion lost annually to insurance fraud in the United States, Tandem, a Compaq company, recently announced global availability of the first comprehensive claims analysis solution for the insurance industry. According to the company, the product, Tandem's Claims Analysis Solution provides online access to integrated claims, policy, and premium information that can help insurance companies improve profits for multiple lines of business, tighten underwriting, improve reserve management and enable more targeted marketing. The product includes consulting, report templates, data model, data mining, and analysis capabilities.

Tandem installed a system for online analysis of claims for USAA, a leading insurance and financial services company. "The system is designed to improve productivity and reduce expenses through increased fraud detection and deterrence capabilities,¨ said Juan Verastigui, director of property and casualty data warehouse for USAA.

Tandem Directional Consulting services, part of the offering, enables insurers to define and prioritize business initiatives and determine the associated return on investment (ROI), the company says. Tandem's team of data warehouse specialists can customize existing templates to speed the design and construction of the data warehouse, ensuring business objectives are realized.

In addition to the consulting services, templates, and tools, each solution includes fully scalable Compaq ProLiant servers (using Windows NT(R) Server technology) and NonStop(R) Himalaya(R) servers and open database technology. Parallel processing power, the company says, is the key to rapidly and reliably handling massive daily updates and large numbers of concurrent database queries against detailed data.

The Claims Analysis Solution includes a user interface for all areas of the insurance organization and all levels of technical expertise. According to the company, by analyzing the information with data mining, query, and analysis tools, users can increase the likelihood of discovering trends that impact profitability of the company.

The product is available in North America, Europe and Japan.