Fireman's Fund Rolls Out Mitchell's CashFlow Web-Based Payment Processing Solution; Mitchell's System Selected by Fireman's Fund After Successful User Testing

    SAN DIEGO--May 21, 2002--Fireman's Fund Insurance Co., one of the nation's leading property-casualty insurers, has begun a nationwide roll out of Mitchell International's CashFlow, a Web-based payment processing system.
    Fireman's Fund will use CashFlow to automate payments in its automobile physical damage claims operation.
    "We are pleased to have a forward-thinking organization like Fireman's Fund implement our CashFlow system," said Leslie Moon, Mitchell's CashFlow product manager. "Our system offers insurers the ability to significantly increase efficiencies in payment processing."
    Using CashFlow, Moon said, insurers can significantly lower their payment processing costs -- which can run as high as $75 per check -- reduce cycle times and improve customer satisfaction through faster payment and less paperwork for customers. CashFlow has been shown to provide up to a 1:7 cost-to-benefit ratio for the customer, meaning that for every dollar invested, the customer can save up to $7.
    Kevin Romer, vice president of claims specialized services for Fireman's Fund, said Fireman's Fund is implementing CashFlow, as they have implemented several other electronic tools, as part of their continuing efforts to improve customer service. "During our pilot, we found that Cashflow enabled us to significantly reduce payment processing time. This means faster payment and improved service to our policyholders and vendors."
    Once the rollout is complete, Fireman's Fund will use CashFlow for many collision-related claims and repair expenses. "Fireman's Fund is a leader and innovator in the use of cutting-edge technology to improve processes," Romer added. "CashFlow has proven itself to be a valuable tool for relieving the administrative burden and significant cost of payment processing, while also enhancing customer service."
    CashFlow is Mitchell's Web-based system that provides procedure automation tools for achieving efficiencies in payment processing. Based on a company's business rules, CashFlow electronically reviews incoming invoices for compliance and reasonableness, and if compliant, payments are issued. Those that merit further review are routed according to the company's claims workflow specifications. CashFlow replaces the traditional means of insurance payment processing, typically marked by redundant workflow involving numerous individuals across different departments.
    Prior to implementing CashFlow, Mitchell worked in a joint application development effort (JAD) with Fireman's Fund to ensure seamless integration of CashFlow with the insurer's existing claims systems. "We are emphasizing joint application development with our clients to ensure synergy with their existing infrastructure, and as a vehicle for the customer to add their considerable industry knowledge to the integration of new solutions," said Steve Yin, Mitchell's senior vice president of marketing and product management.
    This successful deployment of CashFlow, Yin continued, is a significant milestone in Mitchell's strategy to provide enterprise-wide technology solutions for its customers. CashFlow is part of a suite of Mitchell solutions that provide insurers and collision repairers the information, tools and processes needed to better manage the entire claims and repair cycle. Enterprise-wide solutions offer improved cycle times, enhanced customer satisfaction, lower costs and improved process and workflow efficiencies.

    About Fireman's Fund

    Rated "A" by the A.M. Best Co., Fireman's Fund Insurance Co. last year had gross premiums written of more than $4.7 billion and is a leading insurer of auto coverage for firms and individuals. Based in Novato, Calif., Fireman's Fund is a subsidiary of Allianz AG, one of the largest international financial services providers with assets under management of almost $1 trillion.

    About Mitchell International

    Mitchell International, founded in 1946 and headquartered in San Diego, is The Source for information software and e-business solutions for the insurance and collision repair industries. Providing services that enhance productivity, profitability and customer satisfaction, Mitchell facilitates several million electronic transactions between more than 16,000 business partners each month. Mitchell's own parts and labor database, a critical connectivity point between shops and insurers, is trusted for its accuracy and respected as the industry standard. For more information on Mitchell International, call Chris Andrews, director of marketing, at 858/578-6550 ext. 8321. Visit our Web sites at www.mitchell.com and www.emitchell.com.