EL SEGUNDO, Calif., July 16, 2004 – Computer Sciences Corporation (NYSE: CSC) today announced that CSC’s nbAccelerator (nbA) software has enabled Ohio National Financial Services to reduce the time to process annuity requirements and enter applications for new annuity policies by 30 percent.
nbAccelerator, which CSC introduced in 2003 for life and annuity new business process management and risk assessment, automates application submission, underwriting management, workflow and productivity reporting, and policy issue processing.
“We’re believers in nbA after the significant time savings in this initial implementation,” said Al Bowen, Ohio National senior vice president of Information Systems. “The browser-based interfaces in nbA and use of standards like XML and ACORD should also position Ohio National to take advantage of new distribution channels.”
By eliminating processing steps, reducing handoffs and automating tasks, nbA decreases the cost of issuing life and annuity contracts while increasing productivity. nbA’s automated requirement management capability has eliminated Ohio National’s manual processes, improved its forms handling and simplified replacement processing for its annuity products.
“Ohio National’s experience shows how using nbA’s paperless processing and automated workflows can immediately increase productivity,” said Michael W. Risley, president of the Life and Health Division of CSC’s Financial Services Group. “This is further evidence that CSC’s software products deliver real business value to the insurance industry.”
About Ohio NationalTracing its corporate origins to 1909, Ohio National today markets a variety of insurance and financial products in 47 states (all except Alaska, Hawaii and New York), the District of Columbia and Puerto Rico, with subsidiary operations in Santiago, Chile. More than 700 associates are located in its Cincinnati, Ohio headquarters. Its affiliated companies now have over $18.2 billion of total assets under management. For more information, visit the company’s Web site at
www.ohionatl.com.
About CSCFounded in 1959, Computer Sciences Corporation is a leading global information technology (IT) services company. CSC’s mission is to provide customers in industry and government with solutions crafted to meet their specific challenges and enable them to profit from the advanced use of technology.
With approximately 90,000 employees, CSC provides innovative solutions for customers around the world by applying leading technologies and CSC’s own advanced capabilities. These include systems design and integration; IT and business process outsourcing; applications software development; Web and application hosting; and management consulting. Headquartered in El Segundo, Calif., CSC reported revenue of $14.8 billion for the 12 months ended April 2, 2004. For more information, visit the company’s Web site at
www.csc.com.
