CSC Licenses Insurance Industry Data Model to Hastings Mutual
News Release -- April 05, 2011
Model to Underpin Regional Insurer’s Enterprisewide Data
FALLS CHURCH, Va., April 5 – CSC (NYSE: CSC) today announced that Hastings Mutual Insurance Company, Hastings, Mich., has licensed version 3.0 of CSC’s Insurance Industry Data Model, which unifies multiple sources of data into a complete logical representation of data across an insurance enterprise. Hastings will use the model to gain detailed insights into its business operations for enhanced decision-making.
The model is a licensable offering within CSC’s Insurance Optics suite of business intelligence solutions that can be complemented with CSC’s master data management and data governance consulting services. It was expanded last September to include all the necessary data attributes for the global insurer, covering and unifying information from all lines of life insurance, annuities, pensions and property and casualty/general insurance business. Hastings is the first property and casualty insurer to license the model.
“We were looking for an industry model to help us gain a consolidated view of essential information from disparate systems,” said Paul Ayoub, vice president and chief information officer, Hastings. “CSC’s Insurance Industry Data Model will be considered as the framework foundation for our expanded business intelligence solution to support critical functions such as distribution management, financial analysis and predictive modeling.”
“In an increasingly competitive environment, insurers need a way to organize data to support advanced reporting and predictive analytics,” said Jeffery Schwalk, president of CSC’s Property and Casualty Insurance Division. “The Insurance Industry Data Model is based on CSC’s deep insurance expertise and up-to-date industry best practices to organize and unify data in a usable form by both business and IT communities to enhance product development, distribution, risk management, business efficiency and financial performance.”
The Insurance Industry Data Model, the foundation of CSC’s Insurance Optics family of business intelligence solutions, has 400 tables spanning more than 35 subject areas that include 7,000 distinct data attributes that can be bundled for licensing. For more information, visit www.csc.com/insuranceoptics.
About Hastings Mutual Insurance Company
Hastings Mutual is an award-winning, A. M. Best: A+ rated, regional property and casualty insurance company. Hastings Mutual operates in six Midwestern states. The company, based in Hastings, Michigan, has been writing commercial, farm and personal lines business through independent agents since 1885. For more information and an enhanced history of the company, visit their Web site at: www.hastingsmutual.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 (2011). Headquartered in Falls Church, Va., CSC has approximately 93,000 employees and reported revenue of $16.2 billion for the 12 months ended Dec. 31, 2010. For more information, visit the company’s website at www.csc.com.