CSC WINS 11 INSURANCE INDUSTRY AWARDS DURING ACORD LOMA CONFERENCE
News Release -- June 23, 2009
Insurers Choose Company as a Top Technology Provider
FALLS CHURCH, Va., June 23 – CSC (NYSE: CSC) today announced it received 11 awards last month at the ACORD LOMA Insurance Systems Forum, hosted by ACORD, a nonprofit insurance standards organization, and LOMA, a worldwide leader in learning and professional development within the insurance and financial services industry. Nine of the awards were determined by insurance carriers who named the top technology providers in various categories. CSC also was recognized for developing an industry standard that enables consistent communications between disparate systems.
“With one of the industry’s broadest portfolios of insurance software and consulting services, CSC is committed to developing solutions that address mission-critical client needs,” said Jim Cook, president of CSC’s Business Solutions and Services Sector. “These industry acknowledgments validate CSC’s consistent delivery of high-quality products and services, our role advancing industry standards and our ability to help insurance companies achieve business results.”
ACORD presented awards recognizing achievements in ACORD data standards implementations. CSC received the AUGIE Real-Time and Download Implementations, Multiple Trading Partners Award for helping carriers achieve better communications with their agents through the implementation of CSC’s Agency Link software.
In addition, CSC was recognized with an ACORD Early Adopter Award for Transactions for its development of a standard messaging protocol that allows two-way communications between billing systems and policy administration systems on different platforms. These messages are now part of an ACORD industry standard, which other carriers and vendors can leverage to tie policy and billing data together when they reside on separate platforms.
“CSC continues to promote data interoperability within the entire insurance value chain by contributing new content to the ACORD standards,” said Lloyd Chumbley, vice president, ACORD. “Their industry leadership is appreciated, and we congratulate them on their ACORD awards.”
Vanguards in Insurance Practices Awards
Three of the industry awards were determined by the results of the third annual Vanguards in Insurance Practices survey conducted by Insurance Networking News and research firm Celent. The survey, which seeks the opinions of insurance carriers in the United States and Canada, ranked the top insurance technology providers across several categories. Factors impacting the choice of preferred vendors include vendor responsiveness, vendor stability, perfect functionality/service fit, modern technology, long-term partnership potential and aggressive pricing.
CSC was named the top provider in Information Technology (IT) Services and received second place awards for its Point Solutions and Integrated Systems solutions. In addition, CSC and its client, FBL Financial Group Inc., shared second-place Best Practice Case Study honors for working together to integrate disparate systems and developing an industry standard for messaging that can be leveraged by others.
Insurer’s Choice Technology Ranking 2009
Lastly, CSC was selected as the second-place Overall Technology Provider for Property & Casualty (P&C) in the Insurer’s Choice 2009 technology rankings. The company also ranked highly in four categories, demonstrating how it helps respondents “Keep Business Operating,” “Support Distribution Channels,” “Develop or Enhance Products” and “Provide Quality Customer Care” for P&C insurers. Insurer’s Choice is an annual survey of the insurance industry co-sponsored by Tech Decisions and Financial Insights, an IDC company. This year’s results reflect responses from more than 700 insurance professionals.
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 $16.74 billion for the 12 months ended April 3, 2009. For more information, visit the company’s Web site at www.csc.com.