FICO and SulAmérica Honored with Award for Excellence in Auto Insurance Underwriting
E-Finance prize recognizes the benefits of FICO innovation for the insurer
FICO (NYSE:FICO), the leading provider of analytics and decision management technology, today announced that together with SulAmérica they have received the 2011 E-Finance award from Executivos Financeiros for an auto underwriting project using FICO’s business rules technology. The prize recognizes the best projects and the most innovative solutions implemented by financial institutions throughout 2010.
The companies won in the category Auto Insurance Core System, with SulAmérica honored as the insurer and FICO as the solution provider. SulAmérica is now using the FICO™ Blaze Advisor ® business rules management system to calculate prices, generate customized proposals and make changes in a flexible and dynamic way that improves customer service.
“This implementation improved our auto underwriting process,” said Carlos Alberto Trindade, Auto vice president from SulAmérica. “Through our system leveraging FICO Blaze Advisor, we guarantee competitive prices, control our risk and provide rapid responses to market changes. We are also able to improve our relationships with our 30,000 brokers and customers by providing greater agility and transparency in the pricing.”
According to Andreas Suma, FICO’s senior director for Latin America, FICO™ Blaze Advisor® gives businesses greater agility to rapidly respond to insurance market demands, and to introduce new strategies and analytics into real-time decision processes. “The migration from manual processes to an automated process achieves significant cost efficiencies in industries such as insurance, and allows significant improvements in client satisfaction,” said Suma.
FICO™ Blaze Advisor® is the world's leading business rules management system (BRMS), maximizing control over high-volume operational decisions. Blaze Advisor provides companies across industries with a scalable solution that delivers unprecedented agility and actionability for smarter business decisions.
FICO (NYSE:FICO) delivers superior predictive analytics solutions that drive smarter decisions. The company's groundbreaking use of mathematics to predict consumer behavior has transformed entire industries and revolutionized the way risk is managed and products are marketed. FICO's innovative solutions include the industry-leading solutions for measuring credit risk, managing credit accounts, identifying and minimizing the impact of fraud, and customizing consumer offers with pinpoint accuracy. Most of the world's top banks, as well as leading insurers, retailers, pharmaceutical companies and government agencies, rely on FICO solutions to accelerate growth, control risk, boost profits and meet regulatory and competitive demands. Learn more at www.fico.com. FICO: Make every decision count™.
Statement Concerning Forward-Looking Information
Except for historical information contained herein, the statements contained in this news release that relate to FICO or its business are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including the success of the Company's Decision Management strategy and reengineering plan, the maintenance of its existing relationships and ability to create new relationships with customers and key alliance partners, its ability to continue to develop new and enhanced products and services, its ability to recruit and retain key technical and managerial personnel, competition, regulatory changes applicable to the use of consumer credit and other data, the failure to realize the anticipated benefits of any acquisitions, continuing material adverse developments in global economic conditions, and other risks described from time to time in FICO's SEC reports, including its Annual Report on Form 10-K for the year ended September 30, 2010 and its last quarterly report on Form 10-Q for the period ended March 31, 2011. If any of these risks or uncertainties materializes, FICO's results could differ materially from its expectations. FICO disclaims any intent or obligation to update these forward-looking statements.
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