CSC Unveils New Disability Income Claims Services
News Release -- May 22, 2012
FALLS CHURCH, Va.--(BUSINESS WIRE)--CSC (NYSE: CSC) today announced the expansion of its business process services offerings to include full life-cycle adjudication and payment management for disability income claims, and the signing of its first client, a leading multinational life insurance company. The new disability income offering provides individual disability income writers with skilled resources to cost-effectively manage all aspects of disability claims, including work-related, occupational only and non-occupational disabilities.
CSC has added experienced disability insurance claims staff to its business process outsourcing (BPO) unit. The addition of this staff complements CSC’s BPO expertise and industry domain knowledge, bringing industry-leading management of medical complexities, disability eligibility certifications and ongoing claims payments.
CSC’s expanded BPO team provides claims adjudication portfolio management services, evaluating new and existing claims for complete information, insurer benefit payments qualification and suitability of continued benefit payments. The team performs functions relating to new claim acknowledgments, requirements and status information, and handles communications regarding claims decisions, denials and benefits exhausted.
“Organizations with high-volume and complex medical-based claims have processing concerns that are not being met with their current technology landscape and are seeking lower cost alternatives than running these processes in-house,” said Kimberly Harris-Ferrante, vice president and distinguished analyst at Gartner. “Insurers will find BPO an attractive alternative due to its ability to assist in reducing claims processing costs and time, as well as potentially improving customer service.”
“Insurers of all sizes can benefit from CSC’s scalable outsourcing services, whether carriers need full policy and claims administration support or a more limited scope of work, such as staff augmentation or function-based contracts to support high-volume transactions,” said Michael W. Risley, president of CSC’s Life Insurance and Annuity Division. “With this new offering, individual disability income writers now have access to deep claims knowledge and process expertise, while eliminating the challenges involved in maintaining an internal claims function.”
CSC is a market leader for insurance business process services, offering standardized and virtual Business Process as a Service, 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. For more information about CSC’s BPO offerings, visit www.csc.com/lifebpo.
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 $15.9 billion for the 12 months ended March 30, 2012. For more information, visit the company’s website at www.csc.com.