Leading Insurers Work with CSC to Simplify, Modernize IT Environments

Many leading life insurance and annuity companies are transforming their IT environments with the help of CSC. At the 2008 ACORD/LOMA Systems Forum, four CSC clients presented sessions on their recent consolidation, modernization, SOA and software implementation projects. Their presentations are available below for your review.

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Upgrading Incentive Compensation Systems
Presenters: Tom Scales, AEGON Financial Partners; Glynis Coutee, AEGON, AFP Integrated Services

Life insurers face multiple technical and business issues regarding agent appointments, monitoring and compensation. The keys to success in this marketplace are managing distribution channels — life carriers' single-largest controllable expense, according to Gartner — to enhance top-line revenue, and driving down costs to increase bottom-line profitability. Learn how AEGON implemented its service-oriented architecture (SOA) strategy with its incentive compensation management system using Web services.

Transforming Over Time: Reference Architecture as a Roadmap
Presenters: Frank Barresi, MassMutual; Aimee Roberts, MassMutual

Learn how MassMutual's strategy of investing in standardization will provide increased flexibility and significant business advantage, including the ability to get products to market faster and to provide simplified service. Insurers seeking to evolve their policy administration environments can create their own reference architecture and build out their environment with best-of-breed components. Alternatively, they can adopt an existing reference architecture as a roadmap to transition their systems gradually. Read about MassMutual's solution, the new, cutting-edge technologies reviewed, and how they align with strategic partners.

Embracing Upgrades Yields Increased Flexibility and Reduced Operating Costs
Presenter: John LaGrasse, The Phoenix Companies Inc.

According to Forrester, approximately 75 percent of a company's IT operating budget goes to maintaining legacy systems. Particularly in the life insurance industry, administration systems remain in production for many years. But there's a new trend: life insurers are beginning to realize the value of keeping their software up to date. Phoenix, for one, has opted to keep strategic systems current. Read this market leader's story about the payoff of its new business philosophy.

Policy Administration Consolidation: Mission Accomplished
Presenter: Meredith Mitchell, American National Insurance Company

In 2000, American National Insurance Company decided to embark on a multi-year, multi-million-dollar consolidation of its legacy life insurance policy administration systems. Just over six years later, 2.5 million policies were up and running on a new enterprise system. Read about American National Insurance Company's successful initiative, the strategies employed from beginning to end and the many lessons learned from the experience.