CSC Named a Leading Vendor in Celent’s Insurance Software Deal Trends Study
News Release -- July 28, 2010
FALLS CHURCH, Va., July 28 – CSC (NYSE: CSC) today announced it has been named a leading technology provider in multiple categories of Celent’s 2010 Insurance Software Deal Trends study, published in two editions. Celent, a financial services technology research and advisory firm, identified CSC as a leader in Property and Casualty (P&C) core claims in the P&C edition and as one of the leading vendors in the Infrastructure & Financial, Distribution and Policy Administration subcategories in both the Life/Health/Annuity and Property/Casualty editions. This recognition reflects CSC’s deal volume in each of these subcategories.
Celent’s 2010 Insurance Software Deal Trends study ranks insurance software companies based on number of contracts signed in 2008 and 2009 and collected data on more than 2,000 deals with insurers. In the same reports, CSC was named as a “Traction Index” leader, ranking in the top five, out of 40 industry vendors. The Traction Index is more a measure of activity than it is of revenue or expertise.
“The data reported in the sixth edition of our Deal Trends report suggests that deal flow has increased, despite conditions in the general economy, as insurers seek solutions to help them grow, improve services and lower costs,” said Karen Monks, Insurance analyst, Celent. “We also found that, in recent times of financial constraint, insurers chose to stay with the vendors they know and trust.”
“Delivery excellence in support of client projects is a top priority at CSC,” said Ray August, president of CSC’s Financial Services Group. “For more than 30 years, CSC’s mission-critical software, comprehensive services and global IT infrastructure have helped insurers reduce costs, improve productivity and achieve their business objectives.”
The Deal Trends reports provide readers with a snapshot of leading software vendors in the insurance vertical and insights into functions that carriers are targeting for investment. 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 Celent’s reports, visit www.celent.com.
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. The company has been recognized as a leader in the industry, including being named by FORTUNE Magazine as one of the World’s Most Admired Companies for Information Technology Services (2010). Headquartered in Falls Church, Va., CSC has approximately 94,000 employees and reported revenue of $16.1 billion for the 12 months ended April 2, 2010. For more information, visit the company’s website at www.csc.com.