Jackie Van Erp
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News Release-- June 02, 2004
CSC Licenses Visual Product Modeling System to American United Life Insurance Company
Software to Speed New Insurance Product Development
EL SEGUNDO, Calif., June 2--Computer Sciences Corporation (CSC) today announced that American United Life Insurance Company (AUL) has licensed CSC's Visual Product Modeling System (VP/MS) to simplify development of new life insurance products. More than 20 organizations in the United States and Canada have selected VP/MS, making it the leading North American financial services industry business rule and calculation modeling tool.
VP/MS is a complete product development tool that significantly reduces development time for insurance and other financial services products. It is platform-independent and can be deployed over the Internet, allowing product designers, actuaries and marketing personnel to collaborate using different administration systems and locations to develop actuarial formulas, complex table-based rules, and sales and policy value illustrations. By integrating the tool with life and annuity administration systems, VP/MS can also reduce the testing and verification effort required for new products.
AUL, which CSC has supported since 1979, will use VP/MS to design and introduce new whole-life products, speed time to market and quickly create sales illustrations for its life insurance products by sharing product calculations and code with its marketing systems.
"We expect VP/MS to transform not only how we design new products, but the products themselves," said Emet Talley, AUL vice president of information technology. "It will also give our actuaries more flexibility in designing life offerings, allowing us to add the bells and whistles that answer market needs."
"We are pleased that AUL has chosen CSC again to help improve how it achieves its results," said Michael W. Risley, president of the Life and Health Division of CSC's Financial Services Group.
About AUL
American United Life Insurance Company (AUL) is a diversified company offering products to fund 401(k) and other retirement plans; individual life, group and credit insurance; and annuities. Headquartered in Indianapolis, IN, AUL is licensed and authorized to conduct life insurance business in 49 states and the District of Columbia. AUL can trace its history back to 1877. AUL is the founding member of OneAmerica Financial Partners, Inc. As of Dec. 31, 2003, AUL had $10.7 billion in assets. For more information, visit the company's Web site at www.aul.com.
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 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.