Unlimited Causation Test for Determining Valid Claims is Released for OilClaim Calculator Software for Online BP Oil Spill Losses

IT Strategies Group releases Unlimited Causation Test for the OilClaim Calculator Software for a One-Time Fixed Price to Assist Attorneys, Accountants, and Claims Preparation Firms to Save Clients on Up-Front Costs


 

FORT LAUDERDALE, Fla. PANAMA CITY, Fla., NEW ORLEANS, MOBILE, Ala., and BILOXI, Miss., June 17, 2013 /PRNewswire-iReach/ -- "After over a year of service to the community, clients keep asking for the same thing: flexible payment terms so they can keep running claims in the software at what they can afford now, and the ability to determine if their customers have valid claims at a fixed price not per client.  Our clients are already importing or entering more than half of the financial data in the OilClaim Calculator software for each claim to see if their clients qualify with a causation test, so ITSG went ahead and made it more cost effective and simple for clients to submit their customer's claims when they meet the terms outlined in the Settlement Agreement," said Daniel S. Jacobs, VP of Sales for IT Strategies Group Inc. 

(Photo:  http://photos.prnewswire.com/prnh/20130617/CG32992)

"IT Strategies Group is committed to aiding industry professionals serve the affected people of the Gulf Regions.   The claim period expires April 2014 and IT Strategies Group has determined that it is mutually beneficial to provide pricing relief for its software and maximize use of its to process claims.  Accordingly, IT Strategies Group have announced the unlimited pricing of its causation module to allow its clients greater ability to attract clients at very competitive rates and reduce the ongoing burdens of financing the claims preparation, while providing the encouragement necessary as a financial incentive for use of its software," said Craig Sienema, VP of Operations for ITSG and the OilClaim Calculator.

The Unlimited Causation Test Module of the OilClaim CalculatorTM software contains the following:

-         All Causation Tests for a One-Time Software License.  There is a new module to our industry leading software that allows clients to see if claimants have a valid claim for one price, one time.  The software does not require user intervention in choosing Benchmark Periods.  The Causation Tests are completely automated for the entire process from cradle to grave.  It's a thing of beauty.  Pricing does not include Customer Mix Tests since they are performed after Causation is determined and require significant data analysis and claim support.

-          Highly Accurate Zone Map Calculations for Each and Every Address – There are only two places in the world that have this type of data available and ITSG is one of them, and the only one that provides the full gamut of BP Claim calculation that generates a claim report in accordance with the guidelines and methodologies of the Deepwater Horizon Settlement Authority that determines what zone the claim qualifies for, if any.  Available as an additional software license for claims that pass the Decline Only or Modified V test, the Customer Mix Test requires an Economic Loss Zone Map calculation for thousands of addresses and monthly revenues to be populated into appropriate places in the stress tests, and is available in a format that saves dozens of hours of preparation work.  Some claims have hundreds, thousands, tens of thousands or more addresses for customer revenues in each month that is entered into each Business Economic Loss Claim.

-          Complete Automation of All Compensation Algorithms. If a claim passes, clients are able to purchase a full claim software license to prepare the claim with razor sharp accuracy and automated maximizing algorithms.  Based on an internal study of 1,000 claims, the OilClaim Calculator software's algorithms yield an average of 7% higher compensation estimates than Excel* based spreadsheets.  The best months in for the Compensations Assessments are tested and selected by highly sophisticated algorithms and will maximize each claim instantly after all claimant P&L data is entered.  This simply is not possible in manual spreadsheets.  It's done to perfection in the Oil Claim Calculator software.

-          Comprehensive Full Claim Report for Every Full Licensed Claim.  Although it is not required in the Deepwater Horizon Settlement Agreement; the software produces a full claim report that makes the claim preparer's job easier.  Also, it potentially makes processing of the claim faster and simpler on the receiving end and allows firms to provide their clients with a professional claim report, not just a number of what their claim is potentially worth, without waiting months for an answer, yielding higher client satisfaction for firms representing the affected.  For full claim licenses, a Full-Color, PDF Claim Report is printed at the end of the calculation section that's comprehensive and includes the Economic Loss Zone Map, comparable map from the Settlement Agreement, Causation Test Results, Compensations Assessments, and Total Compensation.. 

The OilClaim CalculatorTM is the only fully automated patent-pending, revolutionary software tool that allows BP Oil Spill Losses to be calculated in a consistent and accurate fashion that outputs a standardized claim report for each file in accordance with the methodologies of the new Settlement Authority per MDL2179 in the Eastern District Court of the USA.  This software is a must have for any professional services firm that helps those families and businesses affected by the Deepwater Horizon Oil Spill, such as law firms, accounting firms, and claims preparation firms. 

About IT Strategies Group

ITSG a privately held company that has over 25 years of experience in technological developments and specialized areas of computing, including the very latest in Custom Application & Software Design for the insurance, accounting, and legal markets. ITSG is most famous for inventing the OilClaim Calculator software that was used to calculate OVER 1 Billion Dollars in Deepwater Horizon Oil Spill claims in excess of 10,000 claimants that were submitted to the court-supervised DHECC. ITSG is headquartered in Fort Lauderdale, Florida and has offices in Fort Lauderdale, FL, Panama City Beach, FL, and Destin, FL. For more information, please contact our sales department at sales@itstrategiesgroup.com, call 1 800 294 0387 or visit the Oil Claim Calculator Home Page at www.oilclaimcalculator.com or follow us on Twitter at https://twitter.com/OilClaimCalcula

*Excel is a registered trademark of Microsoft Corporation

Media Contact: Josh Leidolf IT Strategies Group Inc, 954-271-1264, jleidolf@itstrategiesgroup.com

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SOURCE IT Strategies Group



2014

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Business, Science & Tech


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Computer Electronics, Computer Software, New Products & Services



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