Core Reinsurance Solution at a Global Enterprise
Client:Top Global Reinsurer
- Standardize processes for increased efficiency and seamlessly integrate new business from acquisitions
- CSC's SICS core reinsurance solution
- Common processes and efficiency across the company
- Operational flexibility to support significant growth and achieve an enhanced leadership position
This leading reinsurance enterprise has gained great business benefits from its long-term relationship with CSC. We have helped manage its burgeoning business on a firm technology platform for more than a decade, supporting its outstanding market reputation.Now we are collaborating to deliver the company's ambitious plans for future success – leveraging CSC knowledge of the international insurance world, and deploying CSC innovation to exploit new business as it emerges.
Proven and Secure
This reinsurer has built its global enterprise through careful acquisitions, while managing its operations with cool efficiency.CSC provides the SICS core reinsurance solution as the single tool for its reinsurance professionals worldwide. SICS drives common processes and efficiency across the company – from marketing, underwriting and claims to actuarial activity and technical accounting. User satisfaction is consistently high.
CSC’s SICS solution was chosen for two reasons. First, SICS is the world’s leading software for insurance and reinsurance, so it is strongly endorsed by the industry. Secondly, the reinsurer was impressed by CSC’s reputation for integration expertise, which was vital for the company because of its acquisitions strategy. Implementing common systems in acquired companies is very challenging. It requires hundreds of thousands of data files to be converted and migrated from legacy applications. Multiple processes have to be refined and architecture issues resolved.CSC has deployed its skilled teams of technical and business analysts all over the world to support this client for more than 10 years, using its proven implementation methodologies and experience. Each implementation has been completed smoothly for the subsidiary businesses involved. SICS has been integrated non-disruptively with each business system. We have proved our flexibility, too. SICS can manage direct insurance in the same way as indirect business – unlike other insurance administration systems. So an acquired company with a direct insurance book can simply ‘plug in’ to SICS, avoiding costs of licensing, supporting and maintaining a separate system.
The reinsurer’s business continues to directly benefit from CSC’s support in delivering significant efficiency savings and improving the way it assesses its market opportunities. In addition, the relationship is adding more value as it starts to use a much wider range of CSC expertise:
- CSC’s Web service capabilities are increasingly important in meeting the reinsurer’s changing requirements for electronic data interchange in some key markets.
- Innovative solutions are being provided in comprehensive desktop support, document management, data warehousing and reporting.
- CSC’s nearshore and offshore capabilities in manual and automated testing look increasingly attractive to supplement in-house technology support.
- Honing the enterprise’s information strategy is fundamental: providing active management of business intelligence – a vital weapon for modeling and analysing risk, and driving future competitive edge.