Peggy Wilson
Wolters Kluwer
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News Release-- November 17, 2005
CT INSURANCE SERVICES Announces Alliance With Computer Sciences Corporation (CSC)
Combined PINnacle Xchange and PerformancePlus Systems Improve Efficiency for Insurance Producers
NEW YORK – Nov. 17, 2005 – CT INSURANCE SERVICES, a part of Wolters Kluwer Financial Services, today announced an alliance with Computer Sciences Corporation (NYSE: CSC) that will provide insurers with a seamless, enterprise-level, web-based system to manage the administration of insurance producers’ relationships with carriers. Addressing the work flow from contracting all the way to commission payment, this new service is made available through the combination of CT INSURANCE SERVICES’ PINnacle Xchange™ contracting and licensing compliance system and CSC’s PerformancePlus® distribution and compensation management system.
CT INSURANCE SERVICES’ Xchange is a market-leading application that automates contracting, licensing, and appointment compliance beginning with a self-service interface for producers and culminating with compliance filings at all required state regulatory agencies. Xchange creates new levels of efficiency, speeds time to market, and dramatically improves compliance by reducing hand-offs and errors.
The connectivity between Xchange and PerformancePlus will increase efficiency for insurers and help them manage compliance risk by automating the interface between Xchange’s producer compliance database and the PerformancePlus compensation management system. Through this interface, companies will automatically verify a producer’s license and appointment standing prior to commission payment, virtually eliminating one significant category of market conduct risk.
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.
“Helping our customers reduce risk, while increasing efficiency, is our business focus and core competency,” said Debra Freitag, general manager of CT INSURANCE SERVICES. “We are very excited to provide customers with another level of compliance assistance and efficiency through this alliance with CSC.”
“By combining CT Insurance Services’ streamlined licensing and appointment compliance with CSC’s enterprise-wide compensation and incentive management capabilities, our clients can achieve greater business results,” said Michael W. Risley, president of the Life and Annuities division of CSC’s Financial Services Group. “Together, we will provide more efficient distribution management and superior producer services.”
About CSC
Founded 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 more than 78,000 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 $14.5 billion for the 12 months ended Sept. 30, 2005. For more information, visit the company’s web site at www.csc.com.
About CT INSURANCE SERVICES
CT INSURANCE SERVICES, a part of Wolters Kluwer Financial Services, is the leading provider of enterprise-wide systems for insurance licensing and securities registration. By leveraging the most advanced technologies, in combination with more than 100 years of compliance expertise, CTIS solutions bring optimal efficiency and control to the integrated business processes of insurance companies, distributors, and financial services firms. CTIS is a part of Wolters Kluwer Corporate & Financial Services. To learn more, visit the company’s web site at www.ctinsuranceservices.com or call 866.236.4149.
Wolters Kluwer is a leading multinational publisher and information services company. The company’s core markets are spread across the health, corporate services, finance, tax, accounting, law, regulatory and education sectors. Wolters Kluwer has annual revenues (2004) of €3.3 billion, employs approximately 18,400 people worldwide and maintains operations across Europe, North America and Asia Pacific. Wolters Kluwer is headquartered in Amsterdam, the Netherlands. Its depositary receipts of shares are quoted on the Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices.
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