CSC CITED AS A LEADING TECHNOLOGY PROVIDER IN CELENT INSURANCE SOFTWARE STUDY
News Release -- July 07, 2009
FALLS CHURCH, Va., July 7 -- CSC (NYSE: CSC) today announced that it has been named a leading technology provider in multiple categories of Celent's 2009 Insurance Software Deal Trends study, published in two editions. Celent, a financial services technology research and advisory firm, reported in the Life/Health Edition that CSC is the leader in Life, Health and Annuity Core Processing with 56 percent of the deals in 2007 and 2008, as well as a leader in Life, Health and Annuity Infrastructure and Accounting. In addition, Celent identified CSC in the Property/Casualty Edition as a leader in Property and Casualty (P&C) Core Processing and P&C Distribution.
Celent's 2009 Insurance Software Deal Trends study ranks technology companies based on number of contracts signed in 2007 and 2008 and collected data on 1,315 deals with carriers.
In the same reports, CSC was named a "Traction Index" leader, placing in the top 10. The Traction Index is a composite measure that considers the type and size of deals, and the size of a vendor's clients.
"We would like to extend our congratulations to CSC for its leadership in multiple categories," said Craig Weber, senior vice president of the Celent insurance practice. "We believe that carriers value partners who know the insurance vertical well, and who demonstrate their commitment to it. It's not surprising that CSC is a leader in these categories, as its product breadth, technology innovation and long history in the vertical are attractive to new and returning clients."
"Celent's continued recognition of CSC's leadership in the insurance industry is a great honor and a testament to our long-standing commitment to helping our clients achieve success," said Jim Cook, president of CSC's Business Solutions and Services Sector. "For more than 30 years, CSC's mission-critical software, comprehensive back-office services and global IT infrastructure have helped insurers reduce costs and improve productivity."
The Deal Trends reports provide readers with a snapshot of leading software vendors. They were written as independent reports for Celent's insurance research subscribers and were not sponsored or directed by CSC or any other company. For more information on the reports, visit http://www.celent.com/124_1769.htm and www.celent.com/124_1763.htm.
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.