ABD Increases Global Capabilities with Enhancements to
CyberSure® Client Service Portal
ABD Revenues up $5 Million, Costs to Drop $1.2 Million Thanks to Riskclick BPM Solution
REDWOOD CITY, CA (May 25, 2004)
ABD Insurance & Financial Services, a leading provider of global risk management and employee benefits solutions, has announced significant enhancements to its online customer service centre, CyberSure®, delivered in partnership with Riskclick, the leader in Business Process Management (BPM) software to the insurance industry.
The latest upgrades to CyberSure (www.cybersure.com) are facilitated by the use of Riskclick's BPM platform. The enhancements have delivered significant efficiencies in multinational client services, reducing the amount of manual intervention and paperwork that was previously necessary to collaborate with clients across state and international borders.
Recent CyberSure refinements have reduced the elapsed time of customer service processes by 25 percent, improved levels of customer satisfaction amongst ABD clients, and already contributed to nearly 50 major customer wins valued in excess of $5 million. And with CyberSure responsible for a 36 percent decline in processing expenses, ABD expects the productivity gained by the enhanced portal to ultimately reduce its cost base by approximately $1.2 million per year.
"As much as 90 per cent of P&C transactions in the global commercial insurance industry still end up requiring manual intervention," said Josh Lee, technology strategy director for financial services at Microsoft. "But by harnessing Web services and data interchange standards embedded in the Riskclick solution, CyberSure allows ABD and their partners to share and process information without resorting to paper, phone calls and physical meetings."
"Our Riskclick-enhanced CyberSure portal is a major market differentiator for ABD," stated Bruce M. Basso, ABD's Chairman. "It makes our employees more productive, our business processes more efficient and our clients more satisfied. With the combination of enhanced customer service and lower costs, ABD is boosting its agility, as well as its competitiveness. In partnership with Riskclick, we have significantly enhanced our ability to move and manage information, which is at the very heart of any successful global insurance program."
Howard Green, President of Riskclick, stated: "ABD is a fine example of a commercial insurance firm that has taken the lead in harnessing modern technology to provide its clients with superior services. ABD has cleverly used their technology advantage to level the playing field with the largest global brokers around the world, successfully competing with them to win international business."
About ABD
ABD Insurance & Financial Services, www.cybersure.com, provides insurance brokerage, employee benefits consulting and risk management solutions to business clients across the United States and around the world. An industry leader and innovator, ABD is widely recognized for its collaborative, client focused culture and leading edge customer support - now accessible 24 /7 via ABD's award winning Internet initiative, CyberSure®. ABD is a subsidiary of Greater Bay Bancorp (Nasdaq: GBBK), a financial service holding company. ABD now has nearly 650 employees, 10 offices in strategic regional business centers across the western United States and annual revenues of approximately $119 million. About Riskclick
Riskclick provides Business Process Management (BPM) solutions for the insurance industry. Our software streamlines, structures, and automates the insurance processes. Find out more at www.riskclick.com.
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