Using IBM Analytics, Santam Saves $2.4 Million in Fraudulent Claims

Analytics Software Enhances Insurer’s Ability to Resolve Claims Faster

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Johannesburg, South Africa - 09 May 2012: IBM (NYSE: IBM) today announced that Santam, South Africa's leading short term insurance company, has saved $2.4 million on fraudulent claims in the first four months of using IBM business analytics software. The analytics software has enhanced Santam’s fraud detection capabilities and also enabled faster payouts for legitimate claims.

"IBM and OLRAC-SPSolutions have helped us build a solution that has not only transformed our claims processing methodology in terms of speed and efficiency, but also provides new insight which helps us identify false claims more quickly, which protects our business and customers," said Anesh Govender, Head of Finance, Reporting and Salvage at Santam. "The solution has delivered a full return on investment and also helped uncover a motor insurance fraud syndicate in less than 30 days after the system went live.”  

The claims division developed a new operating model for processing claims, depending on varying risk levels. IBM's predictive analytics software has enabled Santam to automatically assess if there is any fraud risk associated with incoming claims and allows the insurer to distribute claims to the appropriate processing channel for immediate settlement or further investigation, which optimizes operational efficiency.

With the enhanced claims segmentation, Santam is also able to reduce the number of claims that need to be assessed by mobile operatives visiting the customer or claim site, resulting in further considerable cost savings for the company.

Speed of claims handling is an important differentiator for the company. Before using IBM analytics, it took at least three days to settle claims. Now, Santam is able to settle legitimate claims within an hour allowing the insurer to significantly improve customer service. 

"IBM is investing in building business analytics solutions that help organizations to effectively mitigate risk," said Rich Holada, vice president of predictive analytics at IBM. "Santam provides an excellent example of how insurers can put analytics into action in order to reduce fraud and risk, while improving the customer experience by settling claims faster and keeping premiums low."

In the last five years, IBM has invested more than $14 billion in acquisitions. With investments in SPSS, Clarity, OpenPages, i2 and Algorithmics, and others, IBM is building business analytics solutions providing clients with capabilities for managing fraud, risk and threat. In addition, IBM has assembled almost 9,000 dedicated analytics consultants with industry expertise, and created a network of eight global analytics solution centers. 

The Santam project illustrates IBM's leadership in analytics in South Africa. IBM is also actively laying the foundations for a major presence throughout the African continent, with offices in more than 20 African countries, where the company is assisting businesses and governments in building strategies, expertise, solutions, frameworks and operating procedures to help improve performance.

The IBM predictive analytics solution at Santam was implemented by IBM Business Partner, OLRAC-SPSolutions.

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Press release:

Dell and Red Hat Collaborate for Embedded Solutions through Dell OEM Partner Program

RALEIGH

NC, Global, May 8, 2012

Combined Dell Hardware and Red Hat Software Solutions Help Manufacturers Save Money, Speed Time-to-Market

Dell and Red Hat, Inc. (NYSE: RHT), the world’s leading provider of open source solutions, today announced they have signed an agreement to produce Dell and Red Hat hardware/software solutions for IT manufacturers worldwide. Enabling fast time-to-market and considerable cost reductions, Dell OEM Solutions group, as part of its recently announced Dell OEM Partner Program, will offer flexible, integrated systems based on Red Hat Enterprise Linux and Red Hat JBoss Middleware Solutions. Now manufacturers can customize Dell Precision and PowerEdge platforms and utilize the performance and reliability of Red Hat's offerings with approved terms and conditions.

"This newly announced extension of our successful ten-year collaboration means that Dell and Red Hat today can serve the most demanding builders of technology solutions,” said Dion Cornett, vice president, Strategic Alliances at Red Hat. “Appliance and application vendors leveraging the trusted brands and proven solutions of Dell and Red Hat, integrated into a cohesive and readily consumable offering, will enjoy compelling value."

Dell designed the OEM Partner Program to be a highly customizable, one-stop shop for manufacturers. Organized into OEM Channel Partners and OEM Solution Partners, the program includes various levels and types of partnerships which tailor support according to customer needs. Red Hat and/or Dell provide IT manufacturers with several key components to enable their success including:

• deep technical resources and close collaboration with critical suppliers;
• best-of-breed technologies at competitive price points;
• product certification and regulatory compliance;
• extended-life products with locked down hardware configurations; and
• high level of product customization and branding.

“Dell OEM Solutions division collaborates with key technology providers, such as Red Hat, to enable manufacturers to build a more robust and flexible hardware platform,” said Ron Pugh, executive director and general manager, Dell OEM Solutions, Americas. “The technical integration of Red Hat Enterprise Linux and JBoss Middleware offerings with Dell solutions addresses customer specific requirements including regulatory compliance, product life cycles, and quality testing. We are thrilled to have Red Hat as part of the OEM Partner Program as they will help manufacturers with their unique go-to-market needs while allowing them to deliver innovative solutions faster.”

For more information, please visit the below sites.
Dell OEM Solutions and Red Hat Embedded: here
Red Hat: www.redhat.com
Red Hat News site: here

About Dell
Dell (NASDAQ: DELL) listens to customers and delivers innovative technology and services that give them the power to do more. Dell OEM Solutions helps its customers find more balance between execution and innovation with dedicated OEM resources, industry-standard hardware and global services and support capabilities. Dell helps its OEM customers improve their time to profit and run their operations more efficiently for increased competitive edge. Learn more at www.dell.com/oem.

About Red Hat, Inc.
Red Hat, the world's leading provider of open source solutions and an S&P 500 company, is headquartered in Raleigh, NC with more than 70 offices spanning the globe. Red Hat provides high-quality, affordable technology with its operating system platform, Red Hat Enterprise Linux, together with cloud, virtualization, management, storage and service-oriented architecture (SOA) solutions, including Red Hat Enterprise Virtualization and JBoss Enterprise Middleware. Red Hat also offers support, training and consulting services to its customers worldwide. Learn more: http://www.redhat.com.