Chordiant Announces Innovative Self-Service Solution for Insurance

Chordiant Software, Inc. (Nasdaq:CHRD), the leading provider of Customer Experience (Cx™) software and services, today announced a significant new capability for insurance providers. Chordiant Insurance Self-Service utilizes the key capabilities of the Chordiant Service Oriented Architecture (SOA) platform and suite of products, and enables policy shopping, quoting, and selection for insurance consumers, thus enhancing the "customer experience” provided by insurance providers. Insurance carriers today are faced with an increasing pace of change in their customer base, as younger consumers consistently expect to deal with their insurance providers directly through the Web. Consumer surveys, such as the Harris Poll survey done by Chordiant in January 2008, have pinpointed the fact that the generation of consumers who have grown up with the Web prefer to exert more control over their personal policy comparison and procurement process. The major insurance companies, who have focused a large percentage of their historical IT budgets on the agent channel, are now caught in this rapidly increasing demographic shift. As Karen Pauli, Practice Director of TowerGroup points out in her recent report: Technology Directions in US P&C Insurance Claims Operations: Transforming a People Business: "Consumers want self-service capabilities like those that they have with their banks, credit card companies, and investment organizations. The demand for 24/7/365 service will continue to grow as the Generation X and younger individuals become a greater proportion of the marketplace. Carriers will have to utilize technology to meet consumers' expectations and demands for frictionless service such as they get from other industries. Carriers that fail to recognize this new imperative will fall behind in the competitive race for differentiation.” The new Chordiant offering, demonstrated this week at the 2008 ACORD LOMA Insurance Systems Forum in Las Vegas, Nevada, leverages Chordiant’s sixth-generation SOA-based platform, Chordiant’s Enterprise Case Management, and Chordiant’s patented, award-winning Decision Management suite. Together, these Chordiant capabilities enable a truly optimized self-service solution for automobile policy providers. The Chordiant multi-channel solution includes intelligent request routing and optimized product bundling. Within the demonstration, a life policy consumer opens an auto quote on the Web and receives a decision-based bundled quotation based on an offer "optimized” in real-time for the needs of that unique individual. The consumer then requests assistance and is automatically routed by the Chordiant decision engine matching their request and demographics with the most effective representative qualified to help that consumer. The agent is presented additional options prompted by the system, including a travel insurance bundle with incremental discounts, and receives automated underwriting approval from the same decisioning engine. Once accepted by the consumer, the completed bundle is then automatically routed to fulfillment. In the solution context, within self-service, Chordiant "takes over” the customer process and automatically optimizes the shopping, quoting, and bundled offering for the customer. The system provides a multi-channel view, the integration with back-end systems, the bundling, the underwriting, the intelligent call routing, all the while "learning” more about that consumer, with an eye toward optimizing the next service or policy sale opportunity. At the 2008 ACORD LOMA Insurance Systems Forum, Chordiant will be demonstrating the solution at booth # 665. The new Chordiant insurance solution will also be featured within the IBM booth # 514, today, Wednesday, May 14th. About Chordiant Software, Inc. Chordiant helps leading global brands with high-volume customer service needs deliver the best possible customer experience. Unlike traditional business applications, Chordiant Customer Experience (Cx) front-office solutions blend multi-channel interaction management with predictive desktop decisioning, enabling companies to capture and effectively anticipate and respond to customer behavior in all channels, in real-time. For global leaders in insurance/healthcare, telecommunications and financial services, this deeper understanding cultivates a lasting, one-to-one relationship that aligns the most appropriate value proposition to each consumer. With Chordiant Cx solutions, customer loyalty, operational productivity and profitability reach new levels of return. For more information, visit Chordiant at www.chordiant.com. Safe Harbor Statement This news release includes "forward-looking statements" that are subject to risks, uncertainties and other factors that could cause actual results or outcomes to differ materially from those contemplated by the forward-looking statements. Forward-looking statements in this release are generally identified by words, such as "believes," "anticipates," "plans," "expects," "will," "would," "guidance," "projects" and similar expressions which are intended to identify forward-looking statements. There are a number of important factors that could cause the results of Chordiant to differ materially from those indicated by these forward-looking statements. Other risks relating to Chordiant's products are detailed under "Risk Factors" in Chordiant's Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2008. These filings are available on a Web site maintained by the Securities and Exchange Commission at http://www.sec.gov. Chordiant does not undertake an obligation to update forward-looking or other statements in this release. Chordiant and the Chordiant logo are registered trademarks of Chordiant Software, Inc. The Customer Experience Company and Cx are trademarks of Chordiant Software, Inc. All other trademarks and registered trademarks are the properties of their respective owners.