CSC Unveils Cloud-based and Software as a Service Options for Billing Across All Insurance Markets
News Release -- September 19, 2011
Deployment Options Significantly Cut Costs and Increase Speed, Agility
FALLS CHURCH, Va., Sept. 19 – CSC (NYSE: CSC) announced new delivery options for its award-winning insurance billing application, Exceed Billing, which enable carriers to cut implementation and operational costs, expand billing channels, increase payment options and consolidate billing across multiple market segments and all lines of business. The Java version is now available as software as a service (SaaS) and accelerates agile implementation in client data centers on a physical or virtualized stack, or on a private cloud. With consumption-based pricing, carriers of all sizes offering property and casualty (P&C), life and/or health insurance can afford the same robust functionality and flexibility in billing as any of the nation’s largest insurers using Exceed Billing in a traditional IT infrastructure.
“Interest in SaaS from all sizes and types of carriers has grown rapidly, and commoditized, labor-intensive tasks such as billing and collections management are ideally suited for this deployment option,” said Chad Hersh, a partner in Novarica’s insurance practice. “SaaS may allow smaller carriers to use a modern system and compete more nimbly than they could previously. A SaaS model also allows those carriers to get up and running relatively quickly, even with core systems. SaaS also gives larger companies an alternative option to help move a new product to market quickly.”
CSC will debut the new cloud and SaaS options for Exceed Billing during its Connect for Property and Casualty users conference, beginning this week in Nashville, Tenn. Offering unlimited payment options and processing for all bill types, carriers can consolidate billing processes across all P&C, life and annuity, and health lines of business, distribution channels and policy systems regardless of platform. Built-in automated processes and integrated workflow help boost productivity. In total, Exceed Billing helps insurers enhance customer and agent satisfaction, improve retention rates and accelerate speed to market.
“CSC has both the insurance industry expertise and proven technical know-how to provide the functionality, scalability and operational support critical to successful cloud and SaaS offerings,” said Jeffery Schwalk, president of CSC’s Property and Casualty Insurance Division. “Exceed Billing software offered in the cloud or as a service is a reliable, cost-effective alternative to an on-premises deployment or managed services offering, enabling powerful customer service delivery through an insurer’s most frequent touch point with customers.”
With CSC-hosted hardware and software support, carriers gain the added benefit of a secure, stable and flexible systems environment that stays current with full access to new enhancements, allowing them to focus on their core business. Built upon an open, service-oriented architecture, Exceed Billing includes self-service capabilities where authorized users configure the software to add new pay plans, expire and replace plans and add new data fields without IT involvement.
In May, CSC received a RAVE Award from Tech Decisions and Novarica for Exceed Billing, which attained the highest overall rating ever for a billing application in Novarica’s ACE Ranking program based on user evaluations of vendor software offerings. In addition, Exceed Billing is the engine that powers Premium Billing 360°, CSC’s billing solution for health insurance organizations and health plans.
For more information, visit www.csc.com/billingin80.
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 93,000 employees and reported revenue of $16.2 billion for the 12 months ended July 1, 2011. For more information, visit the company’s website at www.csc.com.