Cybersettle Secures Patents in Australia & Singapore

July 2, 2003

Cybersettle, Inc., a leading online settlement company, announced that it has been granted patents in Australia and Singapore for its systems and methods used in resolving disputes. It received a similar patent in the U.K. earlier this year.

“The Cybersettle process, which has facilitated approximately half a billion dollars in settlements to date in the U.S. and Canada, is regularly used by insurance carriers, attorneys, third party administrators and government entities to reduce cycle time and significantly lower claims costs. The company is currently in discussions with partners and prospective customers in the U.K. as it looks to develop the international online claims settlement market,” said the company’s announcement.

Charles Brofman, Cybersettle President and CEO stated: “We have thoroughly reviewed both Australian and Singapore markets and we plan on moving swiftly to expand our business to those regions. There is considerable demand for the Cybersettle product abroad as organizations are under heightened pressure to lower claims costs.”

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