Austin, Texas, July 20 -- Computer Sciences Corporation (NYSE: CSC) announced today that Lincoln National Life Insurance Co., Fort Wayne, Ind., will use CSC's JETST Automated Data Trader as its strategic platform to speed service to its trading partners. Lincoln Life is the first insurer to begin exchanging information on CSC's JETS.
This new e-business system is used to rapidly build interfaces from a company's administration systems for sending and receiving data, regardless of format, over industry communication networks. It simplifies processing of applications, deposits, stock position and valuation information, and commissions.
Lincoln Life, the 13th largest life insurer in the U.S., has implemented the second version of the National Securities Clearing Corporation's Insurance Processing Services (IPS), and is using JETS to communicate with broker/dealers through IPS.
"JETS' rapid application development lets us bring up new interfaces much faster," said Michael Hicks, second vice president and director of Annuity Information Services, Lincoln Life. "We chose JETS as a strategic platform for proprietary electronic data interchange, primarily with broker/dealers, but also with other trading partners, such as employers and third-party administrators."
The insurer will eventually migrate its 200 interfaces to the JETS platform. "JETS also offers ease of maintenance," Hicks added. "Our business people and business analysts can maintain the interfaces, which is expected to save us money."
"The JETS System makes it easy for our insurance customers to communicate with their external partners," said Ken Williams, president, Americas Division of CSC's Financial Services Group. "We're committed to helping customers take advantage of new opportunities and quickly build the relationships to expand into new markets."
Lincoln Life, which has major operations in Fort Wayne, Ind., is part of Lincoln Financial Group, the marketing name for Lincoln National Corporation (NYSE: LNC) and its affiliates. LNC holds a prominent position among financial services companies with assets under management of more than $130 billion and annual revenues of $6.0 billion. Through its businesses, LNC provides annuities, life insurance, 401(k) retirement plans, mutual funds, financial planning, life-health reinsurance and institutional investment and management services. For more information, visit Lincoln Life's web site at
www.lfg.com.
CSC's Financial Services Group offers a comprehensive array of business and technology solutions which support the complex requirements of the evolving global financial services industry. Customers include more than 1,000 banks, insurers, investment firms, consumer finance companies and other major financial services organizations around the globe.
Computer Sciences Corporation helps clients in industry and government use information technology (I/T) to achieve strategic and operational objectives. With 50,000 employees in more than 700 offices worldwide, the company tailors solutions from a broad suite of integrated service offerings, including e-business strategies and technologies; management and I/T consulting; systems consulting and integration; and I/T and business process outsourcing.
Since its formation in 1959, CSC has been known for its flexibility in its relationships with clients. Through numerous agreements with hardware and software technology firms, the company is able to identify and manage solutions specifically tailored to each client's needs. CSC had revenues of $7.7 billion for the twelve months ended April 2, 1999. Its headquarters are in El Segundo, California. For more information, visit the company's web site at
www.csc.com.