Aviva Life Insurance Launches Innovative Products, Supports Core Systems with CSC's Outsourcing Services

Aviva Life, the U.S. subsidiary of the world's sixth-largest insurance group, saw demand growing for indexed annuities and wanted to rapidly introduce a new product to serve that market. Launched in May 2005, the Aviva Progressive Index Annuity was the company's first indexed annuity and most successful product launch in the history of its agency sales channel, generating $60 million in sales in the first six months.

Building on a 15-Year Relationship

CSC provides product development and applications management support for Aviva's core administration systems, VANTAGE-ONE and LIFE/70. CSC's VANTAGE-ONE is the industry's leading system for processing annuities, used by 15 of the top 20 U.S. life insurers.

CSC's support for Aviva has evolved over more than 15 years to meet the company's changing business needs. CSC provided full business process outsourcing services from 1990 to 2001. After Aviva licensed CSC's systems in house, CSC continued to serve as an important component of Aviva's development team. When Aviva renewed its contract with CSC in late 2005, CSC's support team was roughly split between CSC's operations in the U.S. and Noida, India.

By outsourcing the day-to-day maintenance and some development activities to India, Aviva benefits from offshore employees trained on CSC's life insurance systems and supervised by a team of senior-level programmers for nearly 70 percent off the hourly rate of their U.S.-based counterparts.

Introduction of New Systems

In addition to applications management services, CSC helps integrate and troubleshoot feeds between CSC's administration systems and various downstream systems for accounting, billing, actuarial evaluation, administrative reporting and Aviva's Web site for agent use only.

The company has also licensed a variety of software products through CSC. DST's Automated Work Distributor - the same work management system used by CSC's BPO operations - helps streamline the company's back-office processes; JETS, an automated data trader; and PATRIOT Protector, a CSC-hosted service that helps financial services firms meet OFAC anti-terrorism and money laundering requirements.

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