CSC Insurance Software Clients Land Celent Model Insurer Designation for Fourth Consecutive Year
News Release -- March 09, 2010
Phoenix Wins 2010 Recognition
FALLS CHURCH, Va., March 9 -- CSC (NYSE: CSC) announced today that its insurance client, The Phoenix Companies of Hartford, Conn., was selected by Celent, a financial services technology research and advisory firm, as a “Model Insurer” for its effective use of technology. This report marks the fourth consecutive year that Celent has showcased insurers using CSC software to support industry best practices.
The report, Celent Model Insurer 2010: Case Studies of Effective Technology Use in Insurance, recognized Phoenix for consolidating multiple systems into a single front-end for increased efficiency and customer service improvement. Using CSC’s Customer Service Accelerator, Phoenix successfully aggregated data from multiple systems into one Web-enabled interface that presents a single view of the customer. Customer Service Accelerator draws data from seven systems from multiple vendors, including four policy administration systems, a customer repository, Automated Work Distributor (AWD) for workflow and CSC’s PerformancePlus for producer management.
The software enables customer service representatives (CSRs) to access customer information including portfolio, contact history, policy data, producer information and workflow data within one interface to improve response times and efficiencies. As a result of the implementation, CSR call times have decreased by 15 percent. Audits of customer calls reveal greater data integrity, and the company has reduced CSR training time on Variable Life account processing by 60 percent.
“In today’s economic environment, the winning insurers are the ones who leverage all available resources to the maximum to meet market challenges,” said Mike Fitzgerald, a senior analyst in Celent’s insurance practice. “Phoenix was selected as a Model Insurer because of the firm’s best practices in infrastructure optimization, use of industry standards, improved use of channels and higher staff productivity.”
“We congratulate Phoenix for joining our other clients who have received recognition as Model Insurers for their innovative use of technology,” said Michael W. Risley, president of CSC’s Life Insurance and Annuity Division. “We take pride in our ability to help clients transform their businesses – bringing products to new markets faster, increasing productivity, reducing costs and improving customer service.”
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 system 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 $16.0 billion for the 12 months ended Jan. 1, 2010. For more information, visit the company’s Web site at www.csc.com.