CSC Financial Services Group
CSC in EMEA
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Director, Investor Relations
CSC Positioned as a “Leader” in Industry Analyst Report for European Life Insurance Policy Administration
News Release -- August 30, 2012
FALLS CHURCH, Va., Aug. 30 – CSC (NYSE: CSC) today announced that its GraphTalk A.I.A software is positioned in the “Leaders” quadrant of the 2012 Gartner Magic Quadrant for European Life Insurance Policy Administration Systems. The report, published on 9 August 2012, reviewed 15 software providers that deliver 16 solutions and evaluated their completeness of vision for future market direction, innovation, customer needs and competitive forces, as well as ability to execute processes, systems, methods and procedures efficiently.
According to the report, “Cost considerations, pressure for a faster time to market of new products, skills shortages, mitigation of system risks and growing compliance concerns are among the main drivers for legacy system replacement. The upcoming Solvency II regulation, for instance, will drive system consolidation and legacy modernisation among European life insurers and pensions providers.” The report also indicates, “Selecting a packaged policy administration system that is mature enough to meet the functional, technical and geographical requirements of European life insurers and pension providers not only is an IT decision, but also will be decisive for the future competitive position of organisations.”
“We believe our position in the ‘Leaders’ quadrant by Gartner is a confirmation of our strong insurance industry expertise and commitment to help European insurers establish their vision for long-term growth,” said Steve Mitchener, president of CSC’s Financial Services Group for Europe, Middle East and Africa. “GraphTalk A.I.A clients benefit from our continued investment in executing against our product strategy, as well as our ability to meet the complex requirements of both local and multinational industry players.”
To view the full report, follow this link.
With more than 100 implementations of GraphTalk A.I.A in nearly 30 countries worldwide, GraphTalk A.I.A is one of CSC’s leading global insurance software solutions for multi-line, multilingual, multi-currency administration. It is an advanced, flexible, end-to-end solution for insurers worldwide, offering unmatched administration support for group and individual life and health, annuities, pensions and general insurance products. It is ideally suited to multinational insurance companies that need to rationalise their business across multiple lines and geographies, as well as insurers wanting to consolidate multiple legacy systems and provide integrated support for multiple lines of business and distribution channels. For more information, visit www.csc.com/graphtalkaia.
ABOUT GARTNER’S MAGIC QUADRANT
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
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 96,000 employees and reported revenue of $15.8 billion for the 12 months ended June 29, 2012. For more information, visit the company’s website at www.csc.com.