CAMBRIDGE INTEGRATED SERVICES NAMED CLAIMS PROVIDER FOR COVETED VICTORIAN WORKCOVER AUTHORITY

Leading U.S. Provider of Claims and Risk Management Services Wins New Business From the VWA with the Addition of Prestigious WorkSafe Claims Account in Australia

Greenwich, CT, March 13, 2008 —Cambridge Integrated Services, a leader in innovative claims and risk management services, and subsidiary of Cambridge Solutions Ltd., announced today they were awarded a multi year BPO contract to handle insurance claims transactions for the Victorian WorkCover Authority (VWA) of Australia.

The VWA is an Australian State Government run Workers’ Compensation Scheme, with annual revenue in excess of $1.7B. It is renowned as the best performing Workers' Compensation Scheme in Australia, and on many fronts, it reaches the world's best practices standard.

The Scheme administers approximately 30,000 claims per annum for the employers in the State of Victoria. The claims are managed by six authorized contracted agents on an outsourcing basis. Cambridge is one of these agents with a 15.3% market share. Cambridge plans to grow its market share to at least 20% over the next three years.

Cambridge will handle all WorkSafe claims for the 1,400 employees of the VWA. In July 2002, Cambridge was appointed a service contract which permitted them to provide support to companies doing business in Victoria. Cambridge has consistently been a top performer for the company, according to the VWA Annual Report, ranking above the competitive average on 14 of the 15 measures tracked. The VWA put its own WorkSafe account out for bid for the first time, relying on a rigorous tender process to choose Cambridge as its new agent.

"I am proud of our claims team's work in securing this additional opportunity to work with the VWA," remarked Wesley O' Brien, President, Cambridge Integrated Services. "This appointment reflects our extremely high level of expertise in the claims field, and serves as further evidence of our quality, growth and global outreach."

Each year, the VWA publishes information that it uses to assess its authorized agents for remuneration purposes and for general performance management. Last year, Cambridge ranked first or second out of six agents in 10 of the 15 measures, according to the VWA Annual Report 2007 (Appendix 2 Agent Performance). Australian CEO Paul Serong attributed the securing of the new contract to “Cambridge’s reputation as the best performing agent in the VWA Scheme.”

About Cambridge Integrated Services
Headquartered in Greenwich, Connecticut, Cambridge Integrated Services, a subsidiary of Cambridge Solutions Ltd., is one of the leading independently owned property and casualty claims and risk management services providers. Cambridge serves Fortune 500 self-insured employers, insurance carriers and public entities in the U.S., Europe and Australia. Claims services span workers' compensation; general, auto, professional and product liability; property and assumed/ceded reinsurance. Cambridge also offers a wide array of specialty risk management services including outcomes management and audit consulting, managed care, special investigations, structured settlements and subrogation/recovery services.

About Cambridge Solutions Ltd.
Cambridge Solutions Ltd. (USHQ: Greenwich, CT.) is a strategic global outsourcing firm with deep expertise in:

  • IT business consulting, application implementation, software engineering, maintenance and support services
  • Business process outsourcing (BPO) for insurance, banking and financial services companies; process consulting; transaction processing, finance and accounting back office support; claims and risk management services; inbound and outbound contact centers to support all of these activities; and other processes that require knowledge-based decision making.

The company employs more than 4,400 professionals serving customers on four continents through more than 60 locations worldwide. With offices in the U.S., Europe, India, Singapore and Australia, Cambridge serves Fortune 500 firms, insurance and financial services companies, and public entities around the world. The company’s BPO subsidiary was named one of the top three best performing BPO companies by Global Services media and neoIT in 2006 and 2007, ranked as one of the top three leaders in human capital management, and ranked as the 28th leading outsourcing company in the world in the International Association of Outsourcing Professionals (IAOP)’s “2006 Global Outsourcing 100” list, that appeared in a special advertising section in Fortune magazine. The company is listed on the major stock exchanges of India (BSE, NSE, MSE & ASE) under the ticker “CAMBRIDGE”. For more information, visit: www.cambridgeworldwide.com.

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