SOURCE: ViryaNet

November 16, 2006 07:00 ET

Mitchell International Selects ViryaNet to Automate Scheduling Adjusters and Processing Insurance Claims

ViryaNet Expands Into New Vertical Market

SOUTHBOROUGH, MA -- (MARKET WIRE) -- November 16, 2006 -- ViryaNet Limited (NASDAQ: VRYA), a leading provider of software applications that automate business processes for mobile workforce management and field service delivery, today announced that Mitchell International, the leading supplier of information products, software, and e-business solutions for the insurance, property and casualty, medical claims, automotive collision repair, and glass replacement industries, has selected ViryaNet Service Hub to integrate with its collision estimation software solution. The arrangement leverages Mitchell's insurance industry expertise, enabling ViryaNet to expand into a new vertical market.

Mitchell International, headquartered in San Diego, California, has included the ViryaNet solution as a core component of its product suite, and is now offering that solution to its more than 16,000 existing business partners and all prospective clients. Mitchell has introduced the product to the industry as Mitchell Dispatch™.

Mitchell Dispatch is the most robust web-based resource planning and optimization system for the insurance claims industry. Mitchell Dispatch automates the scheduling and dispatching process, making it possible for insurance carrier dispatchers or supervisors to efficiently manage resource allocations and to handle only the exceptions.

For years, ViryaNet's best-of-class resource optimization engine has been used by organizations in need of efficient field workforce management, such as public utilities and supply chain services companies. This technology partnership allows Mitchell to offer a new solution to the insurance market based on the mature processes that have been honed in other service industries for over 10 years.

Mitchell Dispatch is the only dispatch solution to use CIECA XML, allowing simple integration with carrier systems. Mitchell's architecture is built on proven scheduling technology in use today by major public utilities companies and in supply chain management operations. The product's sophisticated rules engine can be customized according to a carrier's internal policies and practices, and provides powerful reporting features for strategic resource planning and trend analysis. Mitchell Dispatch gives carriers the flexibility to dispatch assignments via the web, email, text-message, or PDA for additional efficiency and convenience.

"Mitchell Dispatch redefines assignment resource planning. By using ViryaNet's completely web-based system that incorporates the most sophisticated scheduling and routing technology available, insurers can finally achieve a highly efficient and effective assignment dispatch process," said Tom Baird, Senior Vice President of Product Management. "Just because a resource appears to be the nearest in mileage to a vehicle does not mean it's the best choice for that estimate. Mitchell Dispatch has the intelligence to consider an extensive list of criteria such as CSI ranking, estimator skills, and traffic congestion to make sure the person who gets the assignment is the best for the job not just the closest."

"The ViryaNet technology included in the Mitchell solution suite will provide insurance companies distinct advantage in their highly competitive and cost conscious environment," stated Memy Ish-Shalom, president and CEO, ViryaNet. "Ultimately, the Mitchell offering enables an insurance company to reduce the amount of time from incident to resolution. Another important benefit is the improvement in customer satisfaction that occurs when appointments are promised and then met. We are very pleased to help Mitchell help its clients."

About Mitchell International

Mitchell International is a leading provider of information and workflow solutions to the automotive insurance claims industry, serving carriers, collision repair facilities, and other commercial participants in the physical damage and auto-related medical claims processes. Mitchell facilitates millions of electronic transactions between more than 16,000 business partners each month to enhance their productivity, profitability, and customer satisfaction levels. For more information on Mitchell International, visit www.mitchell.com.

About ViryaNet

ViryaNet is a provider of software applications that improve the quality and efficiency of an organization's service operations. ViryaNet's products enable companies in the utility, telecommunications, retail, insurance, and general service sectors to manage and optimize mission critical business processes. The results are increased service revenues, decreased service costs, and maximized customer satisfaction. ViryaNet's robust set of applications help companies improve workforce scheduling, dispatching, and activity reporting; customer contract and entitlement automation; and asset, logistics, and depot repair management. The company's Web address is www.viryanet.com.

Safe Harbor Statement

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 21E of the Securities and Exchange Act of 1934, as amended, including statements regarding ViryaNet's expectations, beliefs, intentions, or strategies regarding the capabilities of its products, its relationships with its customers, its customer purchases, its future operational plans and objectives including integration of other businesses, its future business prospects, its future financial performance, its future cash position, and its future prospects for profitability. All forward-looking statements included in this document are based upon information available to ViryaNet Ltd. as of the date hereof, and ViryaNet Ltd. assumes no obligation to update any such forward-looking statements. Forward-looking statements involve risks and uncertainties, which could cause actual results to differ materially from those projected. These and other risks relating to ViryaNet's business include market acceptance of and demand for the Company's products, risks associated with a slow-down in the economy, risks associated with the financial condition of the company's customers, risks associated with competition and competitive pricing pressures, risks associated with increases in costs and operating expenses, risks in technology development and commercialization, the risk of operating losses, risks in product development, risks associated with international sales, and other risks that are set forth in ViryaNet's Form 20-F, dated July 15, 2005, and the other reports filed from time to time with the Securities and Exchange Commission. Reported results should not be considered an indication of future performance. You should not place undue reliance on these forward-looking statements, which speak only as the date hereof. ViryaNet disclaims any obligation to publicly update or revise any such forward-looking statements to reflect any change in our expectations or in events, conditions, or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.

Contact Information

  • For information, contact:
    Jack McAvoy
    VP, Corporate Communications
    ViryaNet
    (508) 490-8600