CSC Wins XCelent Award for New Business and Underwriting for Annuities, Life & Health Insurance
News Release -- August 17, 2016
TYSONS, Va., August 17, 2016 – CSC (NYSE: CSC), a global leader in next-generation IT services and solutions, today announced that nbAccelerator,® its new business and automated underwriting system, has been named the winner of an XCelent Customer Base award in Celent’s recently published North American New Business and Underwriting Systems 2016, Life, Annuity, and Health ABCD Vendor View.
The report uses Celent’s proprietary framework, ABCD Vendor View, to profile and benchmark 14 systems in use or being marketed for North American life, health and annuity products. Vendors with the highest score in each category are recognized as XCelent award winners. CSC’s nbAccelerator led the “Customer Base” category following an analysis of a number of insurers in production using the system for e-applications and automated underwriting.
“Due to the ongoing economic conditions that continue to have an adverse impact on life insurance application volumes, insurers have a strong interest in reducing the cost of acquisition, processing and issuing life insurance applications,” said Karen Monks, Celent analyst and co-author of the report. “Automating the new business and underwriting functions are critical components in reaching a level of straight-through processing for new business. CSC’s nbAccelerator has many strong features that are worthy of consideration for large- to medium-size insurers looking for an automated underwriting system.”
A full assessment of CSC and other offerings appears in the report.
CSC’s nbAccelerator helps life insurance and annuity companies close new business faster by automating repetitive steps and integrating work management, marketing, sales and service activities. It streamlines the capture and submission process, automates repetitive tasks and ensures work is distributed appropriately and handled properly. It also speeds risk assessment and automates underwriting decisions.
“We are honored that Celent has recognized the scale of our customer base as one of the important reasons for CSC’s leadership helping clients streamline the application, submission and underwriting process,” said Phil Ratcliff, vice president and general manager, CSC Global Insurance Industry. “We are deeply committed to helping clients leverage the investment in nbAccelerator to accelerate their digital transformation journey.”
The XCelent Awards are designed to help insurance companies and other providers stay abreast of industry trends by evaluating the shifting vendor marketplace and awarding technology best practices.
CSC (NYSE: CSC) leads clients on their digital transformation journeys. The company provides innovative next-generation technology services and solutions that leverage deep industry expertise, global scale, technology independence and an extensive partner community. CSC serves leading commercial and international public sector organizations throughout the world. CSC is a Fortune 500 company and ranked among the best corporate citizens. For more information, visit the company’s website at www.csc.com.