CSC Brings Transformative Business Process Services to Insurers in Asia
News Release -- October 13, 2011
CSC to Open Additional Processing Centers in Hong Kong and Malaysia as Part of Its Global Expansion Initiative
FALLS CHURCH, Va., Oct. 13 – CSC (NYSE: CSC) today announced it is expanding its global network of business process service centers for insurance, annuities and pensions to extend business process outsourcing (BPO) services to new geographic regions. New operations supporting multiple languages will be established in Hong Kong and Kuala Lumpur, Malaysia.
CSC currently provides business process services to more than 100 financial services firms from centers in the United States, South Africa, India and Vietnam, processing more than 10 million policies, contracts and loans. With the expansion into Asia, CSC will deliver speed to market and process agility to multinational and domestic insurers in the region, as part of its overall initiative to offer full insurance administration lifecycle support services in new and emerging markets.
Josy Fung has joined the company to head business process services operations for CSC’s Financial Services Group in Asia. She is responsible for establishing the new Asia centers and overseeing service delivery. Prior to CSC, Fung served in various executive positions at Manulife Financial, Hong Kong, managing business process operations in the region.
“CSC has supported insurance clients in Asia for the past 35 years as a leading supplier of software,” said Doug Benfield, president of CSC’s Financial Services Group in Asia. “Combining our local Asian market experience with a unique multi-country end-to-end BPO service model that uses Asia’s leading insurance software and global best-practice processes will drive reduced operational costs and risk for our clients.”
“Opening additional centers is an important step in our initiative to expand our network of global processing capabilities and a logical extension of our comprehensive software and services portfolio,” said Ray August, president of CSC’s Financial Services Group. “This move propels our leadership position in business process services into new markets in support of insurance multinationals seeking to transform their operations.”
CSC is a market leader for insurance business process services, offering standardized and virtual Business Process as a Service (BPaaS), traditional customized and dedicated BPO, and scalable staff augmentation. With these options, CSC’s domestic, regional and global clients have the flexibility to move seamlessly from model to model as their business needs change over time. Clients gain streamlined processes, services and systems; accelerated market entry; cost savings; and improved customer satisfaction.
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.