CSC Named a Leading Provider in Celent’s North American Insurance Software Deal Trends Report
News Release -- June 13, 2012
CSC Tops Policy Administration and End-to-End Suite Categories for 2012
FALLS CHURCH, Va., June 13 – CSC (NYSE: CSC) today announced it has been named a leading software provider in multiple categories of Celent’s 2012 North American Software Deal Trends report, published in two editions. Celent, a financial services technology research and advisory firm, ranked technology companies based on the number of contracts signed in 2010 and 2011 and data on 1,583 deals with carriers during that period
The Life/Health/Annuity edition of the report identifies CSC as a leader in policy administration with 39 percent of contracts signed. The Property/Casualty edition also identifies CSC as a leader in the end-to-end suite category within the core processing metacategory.
The report includes a “Traction Index” to help insurers assess participating vendors according to their activity in the insurance industry. The index represents a weighted score for each company based on the type and size of deals, as well as client size. Of the 47 companies participating in this year’s study, CSC ranked number 6, up from the prior year’s index.
“We would like to extend our congratulations to CSC for being named a leading vendor,” said Karen Monks, Analyst in Celent’s insurance practice. “We believe that insurers value partners with deep insurance expertise who demonstrate their commitment to the industry. CSC’s success in insurance software sales puts them in that category.”
“CSC’s track record of serving insurers around the world is grounded in nearly 40 years of providing business solutions for policy administration, billing and claims — in addition to managing millions of policies in CSC’s business process outsourcing operations,” said Ray August, president of CSC’s Financial Services Group. “With modern industry-focused software and services, CSC enables insurers to transform operations, introduce world-class products and services, and compete more effectively in today’s market.”
Celent’s Deal Trends reports provide readers with a snapshot of leading software vendors in the insurance industry and insights into functions that carriers are targeting for investment. The reports, written for Celent’s insurance research subscribers, were not sponsored or directed by CSC or any other company. For more information on Celent’s reports, visit www.celent.com.
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.