Continuum's COLOSSUS Software System Licensed to The Hartford Fire Insurance Company

Continuum Company, Inc. (NYSE: CNU) announced that The Hartford Fire Insurance Company, a leading property and casualty insurer, has acquired a license to use Continuum's COLOSSUS software system for evaluating bodily injury claims. The adoption of COLOSSUS, one of the most comprehensive knowledge-based systems in commercial use, marks a significant milestone for Continuum, as it expands its expertise in computer software and services to the insurance industry. The implementation is expected to enhance the claims evaluation process for Hartford Fire Insurance Company, a subsidiary of ITT Hartford, a global insurance and financial services company.

Key Takeaways:

• The Hartford Fire Insurance Company, a leading property and casualty insurer, has licensed Continuum's COLOSSUS software system for evaluating bodily injury claims.
• COLOSSUS is one of the most comprehensive knowledge-based systems in commercial use, assisting insurance claims adjusters in the claim evaluation process.
• The implementation is expected to enhance the claims evaluation process for Hartford Fire Insurance Company, a subsidiary of ITT Hartford.
• ITT Hartford is a global insurance and financial services company with $11 billion in 1994 revenues, and its insurance group is the seventh largest property-casualty insurer in the United States.
• The Continuum Company, Inc. is an international consulting and computer services firm based in Austin, Texas, serving the needs of life insurance, property and casualty insurance, and other financial services companies.
• Continuum will begin recognizing revenue under this contract in the quarter ending September 30, 1995.

Statistics:

• $11 billion: ITT Hartford's 1994 revenues
• $5.6 million: ITT Hartford Insurance Group's written premiums for 1994
• $43.2 billion: ITT Hartford Insurance Group's assets for 1994

Sources:

• NBC (Network Business Conference?)
• NYT (New York Times)

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