Medicare Life to Adopt VP/MS, a Global Insurance Product Configuration Suite from CSC
News Release -- February 14, 2012
FALLS CHURCH, Va., Feb. 14 – CSC (NYSE: CSC) today announced Medicare Life Insurance Co., Ltd (Medicare Life), a Tokyo-based life insurance company, has adopted CSC’s VP/MS for the design and development of its new insurance products.
VP/MS is a flexible product configuration and management solution for the global insurance market that enables the definition of product rules and calculations. VP/MS facilitates best practice insurance product management, including the reuse of product components. The software also enables the business user to configure product rules and calculations and facilitates rapid time to market for insurance products by improving the efficiency of the product development process.
“We have been working to develop new insurance products in response to our customers’ needs in light of the changing Japanese insurance market in addition to providing fast, courteous and specific services,” said Mr. Shinya Okumura, a general manager of the System Planning Department in Medicare Life. “I am confident that the adoption of CSC’s VP/MS should tremendously improve our product development processes and will further support our continuous efforts to become an even more reliable and accessible insurance company. We are also looking forward to building a long-term relationship with CSC to achieve this shared goal.”
“Most carriers have been under pressure to release new products to the market quickly, employing more effective product development processes in order to achieve growth and competitiveness in this dynamic market,” said Mike Strzepek, vice president and Japan country representative for CSC. “CSC has more than 30 years of experience serving the insurance industry and can help carriers by providing innovative technical solutions. CSC is confident that VP/MS will give Medicare Life a flexible and robust product development environment, ensuring a shorter time to market in support of their growth initiatives.”
About Medicare Life
Medicare Life Insurance Co., Ltd (Medicare Life) is an insurance company newly established through the funding of “Sumitomo Life” and “Mitsui Life.” The company has a wealth of experience in the insurance industry, focusing on timely and specific services to satisfy diversified customer needs. Please visit our website for further details at (www.medicarelife.com).
CSC is a global leader in providing technology-enabled business solutions and services. Headquartered in Falls Church, Va., CSC has approximately 98,000 employees and reported revenue of $16.0 billion for the 12 months ended December 30, 2011. For more information, visit the company’s website at www.csc.com.