CSC’s VANTAGE-ONE Software Extended for Rapid Insurance Product Introduction and Low-Cost Policy AdministrationEL SEGUNDO, Calif., May 12 – Computer Sciences Corporation (NYSE: CSC) today announced new software that will enable insurers to speed introduction of life insurance and annuity products and administer policies at lower cost.
Used by 15 of the top 20 life insurers in the United States, CSC’s VANTAGE-ONE is a comprehensive administration system supporting group and individual, qualified and non-qualified, fixed and variable life and annuity products.
To speed new insurance products to market, CSC has integrated VANTAGE-ONE with its Visual Product Modeling System (VP/MS). VP/MS is an external rules engine that makes it easier and faster to define and modify business rules and calculations. To reduce the expense of maintaining and running policy administration systems, CSC now provides clients with the option of using VANTAGE-ONE in a mid-tier environment for product development and testing or for production operation. Both of these technology options are available today.
In addition, CSC is developing an extension of VANTAGE-ONE that will help companies develop and administer innovative retirement insurance and annuity products and features that enable policyholders to access their accumulated funds while continuing to invest.
To make these new features possible, CSC has applied its enterprise integration architecture, CSC e4. CSC e4 uses open standards such as BPEL and XML, and ACORD's standard for the insurance, reinsurance and related financial services industries. CSC e4-compliant systems can be easily configured and rapidly integrated with other applications, both inside and outside the insurer’s enterprise.
“By continuing to invest in CSC e4-compliant software, we can help clients realize both the potential of new technologies and the embedded value in their legacy systems,” said Michael W. Risley, president of the Life and Annuities Division of CSC’s Financial Services Group. “Today’s announcement shows how our experience and practical innovation continue to increase the value delivered by the insurance industry’s most widely used and most comprehensive software products.”
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 79,000 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 $13.9 billion from continuing operations for the 12 months ended Dec. 31, 2004. For more information, visit the company’s Web site at
www.csc.com.
