Francoise Dibben
Manager, Marketing Communications
Financial Services Sector, EMEA
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Marian Kelley
Director, Media and Analyst Relations
Financial Services Group
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News Release-- September 28, 2009
CSC SIGNS CONTRACT EXTENSION WITH AXA INSURANCE TO RENEW COLOSSUS LICENSE
ALDERSHOT, UK, Sept. 28, 2009 - CSC (NYSE: CSC) announced today that AXA Insurance, a major UK insurer, has extended its license of CSC's Colossus personal injury claims assessment solution for an additional three years.
Used by eight of the largest insurers in the UK and Ireland, including four of the top seven UK insurers, and 13 of the top 20 US insurers, Colossus is a leading system for helping claims handlers evaluate personal injury claims fairly and consistently. During the past nine months, CSC and AXA have integrated Colossus into AXA's in-house claims system to provide optimum data integrity as well as simplified and quicker processing. In addition, the latest version of Colossus has improved features to accelerate the assessment process.
"AXA is committed to dealing ethically and quickly with all legitimate claims for compensation made against our customers," said David Williams, managing director of Claims for AXA Insurance. "Our work with CSC to integrate Colossus further into our claims process enhances our ability to meet this objective, enabling us to assess compensation fairly and efficiently."
"The AXA Group and CSC have worked together for more than a decade, designing and implementing business solutions for AXA Group operations throughout Europe, Asia Pacific and the United States," said Steve Mitchener, president of CSC's Financial Services Group in Europe, the Middle East and Africa. "This contract renewal is testament to the strength of our relationship and the significant business benefits AXA Insurance has received from our Colossus solution."
About ACLI
AXA Insurance is one of the largest general insurers in the UK and underwrites a broad range of products for individuals and businesses. Products are distributed primarily through brokers and corporate partners, with a growing presence in the direct market through its website www.axa.co.uk and Swiftcover, the 100% online insurance provider. AXA Insurance is part of the AXA UK group of operating companies.
AXA UK is a part of the AXA Group. AXA Group is a worldwide leader in Financial Protection. AXA's operations are diverse geographically, with major operations in Europe, North America and the Asia/Pacific area. For full year 2008, IFRS revenues amounted to Euro 91.2 billion and IFRS adjusted earnings to Euro 3.7 billion. AXA had Euro 981 billion in assets under management as of December 31, 2008.
The AXA ordinary share is listed on compartment A of Euronext Paris under the ticker symbol CS (ISIN FR0000120628 - Bloomberg: CS FP - Reuters: AXAF.PA). The American Depository Share is also listed on the NYSE under the ticker symbol AXA. Our previous company performance is not a guide to how we may perform in the future.
About CSC
CSC is a global leader in providing technology-enabled solutions and services through three primary lines of business. These include Business Solutions and Services, the Managed Services Sector and the North American Public Sector. CSC's advanced capabilities include systems design and integration, information technology and business process outsourcing, applications software development, Web and application hosting, mission support and management consulting. Headquartered in Falls Church, Va., CSC has approximately 92,000 employees and reported revenue of $16.2 billion for the 12 months ended July 3, 2009. For more information, visit the company's Web site at www.csc.com.
