Director, Media Relations
Director, Media and Analyst Relations
CSC Financial Services Group
Vice President, Investor Relations
CSC’s Insurance Billing System Named an Industry Leader for North America
News Release -- April 18, 2012
Celent Report Recognizes CSC’s Exceed Billing as Leader in Functionality, Service
FALLS CHURCH, Va., April 18 – CSC (NYSE: CSC) today announced it received the XCelent Functionality 2012 and XCelent Service 2012 awards from Celent, an industry research and consulting firm, for its Exceed Billing insurance software. Exceed Billing enables consolidated billing across multiple market segments, lines of business, distribution channels and/or policy systems. The awards are based on Celent’s assessment of CSC’s configurable, scalable application, as compared to other offerings profiled in a report titled, “Stand-Alone Billing System Vendors: North American Property and Casualty Market 2012.”
The report uses Celent’s proprietary framework called the ABCD Vendor View to profile and benchmark stand-alone systems in use by property and casualty carriers. Vendors with the highest score in each category are recognized as XCelent award winners. CSC’s Exceed Billing led the “Functionality” and “Depth of Service” categories following an analysis of the functions and features provided in the base offering; the power and ease of use of rules, workflow and product configuration capabilities; supported lines of business and number of deployments; size and experience of CSC’s services and support team; and users’ implementation experiences.
“Approximately 80 percent of our new business starts as a cross-selling opportunity to existing policyholders,” said Greg Clancy, chief information officer of Indiana Farm Bureau. “With Exceed Billing, we have tremendous flexibility and are able to customize billing plans to fit our customers’ needs. We can schedule the same due date for all policies, bundle commercial and personal policies separately or offer multiple billing schedules according to their wishes.”
“These honors stem from CSC’s commitment to technology innovation, enhanced functionality and improved efficiency,” said Jeffery Schwalk, president of CSC’s Property and Casualty Insurance Division. “Exceed Billing provides carriers of all sizes a highly configurable system that automates billing and collections for all types and lines of business — enabling the carrier to focus on brand differentiation and speed to market. Insurers choosing the Software as a Service (SaaS) deployment option can be up and running on Exceed Billing in as little as 80 days.”
Exceed Billing is a real-time, rules-based billing system for property and casualty carriers, life insurance and annuity companies and health insurers. The system’s open, service-oriented architecture includes Web-based configuration capabilities and provides a user-friendly experience for home offices, agents and customers. Exceed Billing can bill for both gross and premium net of commission. Authorized users can easily add new pay plans, expire and replace plans and add new data fields without IT involvement. Exceed Billing is available with multiple deployment options, including SaaS, cloud or on premise. For more information, visit www.csc.com/exceedbilling.
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 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.