Okemos, Mich., June 7, 2004 — Innovative IT Solutions, Inc.® (Innovative IT) today announced the formation of an alliance with Computer Sciences Corporation (CSC) that will provide insurers with the combined flexibility of Innovative IT’s SIRCON.db™ producer licensing and compliance management database and CSC’s PerformancePlus® distribution and compensation management system.
SIRCON.db™ and its Internet-based companion, SIRCON®, allow insurance companies and broker-dealers to use an event-driven system to synchronize data between the organizations, and with their business partners and state regulatory agencies. It is the only system on the market that can conduct business with state regulatory agencies in real time over the Internet.
SIRCON.db’s integration with CSC’s PerformancePlus will give insurers an enterprise-wide solution to maintain and process vital compliance, licensing and contract information for all producer firms and individuals. PerformancePlus, a Web-enabled system designed to integrate with complex environments, including multiple administrative systems and distribution channels, enables companies to improve producer service and retention, reduce total distribution management costs, and align producer behavior with corporate goals.
“Insurance companies need the best tools to keep them in compliance with state regulations for insurance licensing,” said Michael W. Risley, president of the Life and Health Division of CSC’s Financial Services Group. “The combination of PerformancePlus and SIRCON.db helps companies assure compliance, while substantially reducing the time and cost associated with licensing and appointment processing.”
“Innovative IT is excited about our new relationship with CSC. Integrating SIRCON.db’s strong license and appointment capabilities with PerformancePlus’ advanced distribution and compensation management capabilities will create unique business efficiencies for our common clients,” said Bob Granger, Innovative IT’s vice president of Sales.
About CSCFounded in 1959, Computer Sciences Corporation is a leading global information technology 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.
About Innovative IT Solutions, Inc.® Innovative IT Solutions, Inc.® (Innovative IT) delivers comprehensive online services and products for licensing, regulatory compliance automation and producer management within the insurance industry. Innovative IT's suite of solutions provide essential industry services by connecting insurance carriers, broker-dealers, and state regulatory agencies. Many of the nation’s best-known insurance companies depend on Innovative IT including: The Hartford, Geico, Nationwide Life, Conseco, Farmers Group, AIG, Travelers, John Hancock and Aetna. For more information, visit www.innivativeit.com.
