CSC Receives XCelent Awards from Leading Analyst Firm
News Release -- December 21, 2011
Celent Reports Recognize CSC’s POINT IN as a Leader in North American Insurance Policy Administration
FALLS CHURCH, Va., Dec. 21 – CSC (NYSE: CSC) today announced it received the XCelent Service 2011 and XCelent Customer Base 2011 awards for personal and commercial lines of property and casualty insurance business from Celent, a research and consulting firm. The awards are based on the firm’s assessment of CSC’s POINT IN, a comprehensive insurance administration system, as compared to other offerings profiled in two Celent reports titled, “Policy Administration System Vendors: North American Personal P/C Insurance 2011” and “Policy Administration System Vendors: North American Commercial P/C Insurance 2011.”
The reports use Celent’s proprietary framework called the ABCD Vendor View to profile and benchmark 25 personal lines and 33 commercial lines of policy administration systems across four dimensions. CSC’s POINT IN suite led the “Customer Base” and “Depth of Service” categories for both personal and commercial lines following an analysis of the number of POINT IN clients, the number of lines of business processed on POINT IN and the size of CSC’s team supporting the application, as well as POINT IN users’ qualitative ratings of the implementation experience and CSC’s professional services.
“Celent believes a good modern policy administration system will provide many types of advanced functionality — beyond the basic rate, quote, bind issue and policy service functionality,” said Donald Light, senior analyst at Celent and co-author of the reports. “CSC offers an attractive and capable system that allows insurers to meet both business needs and technology standards.”
“We are honored that Celent has highlighted many of our strengths, including our depth of service and the size of our customer base, as important reasons for CSC’s leadership in the insurance policy administration market,” said Jeffery Schwalk, president of CSC’s Property and Casualty Insurance Division. “POINT IN is designed for carriers of all sizes, regardless of platform or database, that need to modernize their processing environments to support growth. The system is production proven by one of the largest client communities in North America.”
POINT IN supports end-to-end processing for all lines of insurance coverage, including commercial, personal, workers’ compensation and/or specialty lines with components for policy administration, billing and collections, claims and reinsurance. The offering is supported and maintained through CSC’s Continuous Delivery Release process, which delivers frequent software upgrades that can be easily and quickly implemented, allowing carriers to realize faster business and technical value than other solutions. CSC’s platform-independent strategy allows clients to choose the hardware and database options most appropriate for their businesses.
The latest release of POINT IN, available in the Java EE framework, features enhanced configuration tools that allow carriers to easily create their own rules or choose from the hundreds pre-built into the system for improved productivity and accelerated speed to market. With the general availability of this version of POINT IN, carriers can opt to run the system on the Microsoft Windows platform with a SQL Server database, in addition to IBM and Oracle/Sun Microsystems platforms. For more information, visit www.csc.com/pointin.
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 97,000 employees and reported revenue of $16.2 billion for the 12 months ended September 30, 2011. For more information, visit the company’s website at www.csc.com.