CSC Licenses Insurance Industry Data Model to Pan-American Life
News Release -- July 28, 2011
Model to Serve as Foundation for Producer Data Management
FALLS CHURCH, Va., July 28 – CSC (NYSE: CSC) today announced Pan-American Life Insurance Company of New Orleans, La., has licensed version 3.0 of CSC’s Insurance Industry Data Model, which unifies multiple sources of information into a complete, logical representation of data across an insurance enterprise. Pan-American Life, a leading provider of individual life and group insurance in the United States and Latin America, will use the model to gain a clear picture of producer activity and productivity, and leverage that information for enhanced decision-making.
The model is an offering within CSC’s Insurance Optics suite of business intelligence solutions and is available on a standalone basis or with CSC’s data management and governance consulting services. It was expanded last September to include all necessary attributes for a global insurer, unifying information from all lines of life insurance, annuities, pensions, and property and casualty/general insurance business.
“CSC’s Insurance Industry Data Model will help us establish the foundation for a producer data mart, and the backbone for a corporate program we began in 2010 called ‘Know Your Producer,’” said Karen Chauvin, chief information officer at Pan-American Life. “The data mart will provide a consolidated view of essential producer information – both in the U.S. and throughout Latin America – from a variety of sources across the enterprise. The knowledge we gain and share with our producers will result in greater efficiency and better customer service.”
“Insurers expanding into new markets need a common model to provide enterprise data and support advanced reporting and predictive analytics,” said Michael W. Risley, president of CSC’s Life Insurance and Annuity Division. “The Insurance Industry Data Model brings crucial data to the forefront, enabling carriers to enhance product development, distribution, risk management, business efficiency and financial performance.”
CSC’s Insurance Industry Data Model, the foundation of the company’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/IIDM.
About Pan-American Life Insurance Group
The Pan-American Life Insurance Group is a leading provider of insurance and financial services serving nearly half a million customers throughout the Americas. New Orleans-based Pan-American Life Insurance Company, the Group’s flagship member, has been delivering trusted financial services since 1911, employing more than 800 worldwide, providing top-rated life and health insurance, worksite benefits and financial services in 47 states, the District of Columbia (DC) and Puerto Rico. The Group’s member companies offer individual and/or group life and health insurance throughout Latin America. The Group has branches and affiliates in Costa Rica, Colombia, Ecuador, El Salvador, Guatemala, Honduras, Panama, and the Cayman Islands. For more information, visit the Pan-American Life Web site at www.panamericanlife.com.
About CSC in Financial Services
More than 1,200 major banking, insurance, investment and wealth management, and securities firms rely on CSC's global financial services team to turn their ambitions into realities. With a track record for delivering software, consulting, and IT and business process outsourcing and services at scale, CSC brings a deep understanding of the financial services business and a collaborative culture to one of the industry's most engaged client communities. For more information, visit www.csc.com/financialservices.
CSC is a global leader in providing technology-enabled business solutions and services. Headquartered in Falls Church, Va., CSC has approximately 91,000 employees and reported revenue of $16.0 billion for the 12 months ended April 1, 2011. For more information, visit the company's website at www.csc.com.