CSC PRESENTS INAUGURAL INNOVATION AWARDS TO LIFE AND ANNUITY CARRIERS AT 2009 USERS’ FORUM
News Release -- July 16, 2009
FALLS CHURCH, Va., July 16 -- CSC (NYSE: CSC) today announced that six life insurance and annuity companies are the first to receive CSC awards for innovation and leadership in the areas of technology and quality enhancement. The company's client community nominated and selected the Innovation Award winners, who were honored during CSC's Life and Annuity Users' Forum in June.
More than 250 life and annuity industry business and technology professionals attended the annual conference held this year in Marco Island, Fla. The 2009 award winners include: AXA Equitable Life Insurance Company, New York, N.Y.; Conseco Inc., Carmel, Ind.; MTL Insurance Company, Oak Brook, Ill.; Ohio National Financial Services, Cincinnati, Ohio; Phoenix Life Insurance Company, Hartford, Conn.; and Midland National Life Insurance Company and North American Company for Life and Health Insurance, members of the Sammons Financial Group, Sioux Falls, S.D.
AXA Equitable received the Innovation in Global Sourcing Award, which singles out a carrier for achieving superior results using CSC's business process outsourcing (BPO) or information technology outsourcing (ITO) resources. The company expanded the scope of its offshore engagement with CSC, which was initially to provide maintenance production support for both CSC and legacy applications, to include enhancements, maintenance, production support, release management, quality assurance and business analysis for in-house AXA applications. As a result, teams now resolve 25 percent more maintenance tickets annually, cycle times have been reduced, and the carrier has launched 18 new life insurance products and seven new annuities.
The Innovation in Policy Administration Award was presented to three carriers that reduced expenses or improved productivity, revenues or customer service through a successful implementation, conversion or upgrade of CSC's policy administration systems. The winners were selected for their innovative use of three different platforms. MTL Insurance was chosen for its collaboration in the development of and early adoption of NextGen, leveraging new technologies with LIFE-COMM. Ohio National was recognized for its cost-effective implementation of VANTAGE-ONE for its term insurance business. Midland National and North American, of the Sammons Financial Group, were honored for their conversion of four policy administration systems onto CyberLife with a common front-end, Customer Service Accelerator. This effort was part of Midland National's and North American's corporate strategic initiative to consolidate and streamline business operations and the systems supporting those operations while laying the foundation for future growth.
Conseco received the Innovation in Producer Management Award for its deployment of PerformancePlus as its strategic incentive compensation system for independent agents. As a result of the implementation, which consolidated platforms, the carrier was able to process commissions faster and cut IT support in half.
Phoenix Life won the Exceptional Customer Service Award for its use of Customer Service Accelerator as its front-end application for seven systems. This implementation resulted in improved customer-facing interactions that have produced greater consistency, raised productivity, accelerated access to pertinent information and reduced errors. Customer service representatives have lowered the typical time spent handling customer calls by 15 percent.
"It is with great pleasure that we recognize the first recipients of CSC's Innovation Awards, and we look forward to instituting these awards as a CSC tradition," said Michael W. Risley, president of the Life and Annuity Division within CSC's Financial Services Group. "By improving their mission-critical operations by leveraging CSC software and outsourcing services, these award winners have established carrier best practices and demonstrated that innovation remains a strength of the life insurance and annuity industry."
For more information about the 2009 awards and winners, visit
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.