Francoise Dibben
CSC's Financial Services Group, EMEA
Tel: +44 (0)1252 536492
Mob: +44 (0)7801 319051
> Email
CSC Signs Contract with RSA to Extend Colossus License and Support on a Hosted Basis for Five Years
News Release -- March 16, 2011
ALDERSHOT, UK, 16 March 2011 – CSC (NYSE: CSC) today announced that RSA Insurance, the U.K.’s second largest commercial lines and fourth largest personal lines insurer*, has extended its contract for the licence, maintenance and support of CSC’s Colossus personal injury claims solution for an additional five years. RSA uses the hosted version of the solution to boost the cost effectiveness of its claims services.
RSA has used Colossus to help evaluate personal injury claims since 1998. The new version of Colossus includes several enhanced features that provide value to clients: an improved browser-based graphical user interface, business intelligence dashboards, real-time management reports, tools to assess damages in relation to occupational diseases, and an electronic interface to allow automatic straight-through processing of medico-legal reports.
“The latest version of Colossus will enable us to further improve the speed and accuracy of our claims processing,” said Ian Currie, director of Technical Claims, RSA Insurance. “The new occupational diseases function allows us to extend those benefits to process a wider range of claims than before. These improvements, coupled with the comprehensive management information provided by the new system, will help us to exercise greater control over personal injury claims handling while ensuring that our settlements are fair and consistent. The transition of 400 registered users to the new hosted version was completed within six weeks from the contract being signed and we look forward to a continued high quality and speed of service from CSC.”
“The move to the hosted version of Colossus will enable RSA to lower the total cost of ownership,” comments Steve Mitchener, president of CSC’s Financial Services Group in Europe, the Middle East and Africa. “We fully support RSA’s efforts to introduce greater innovation and efficiency in the handling of personal injury claims and look forward to continuing our long-term relationship with one of the U.K.’s leading insurers.”
Used by some of the largest insurers in the U.K. and Ireland, including four of the U.K.’s top seven and nearly 25 percent of the top 100 U.S. insurers, Colossus is a long established system with a proven track record for helping claims handlers accurately and fairly evaluate personal injury claims and for insurers to proactively manage this important area of claims spend.
*Source: FSA Returns
About RSA
With a 300 year heritage, RSA is one of the world’s leading multinational quoted insurance groups, with the ability to write business in over 130 countries and with major operations in the UK, Scandinavia, Canada, Ireland, the Middle East and Latin America.
RSA is the UK’s second largest commercial insurer and fourth largest personal insurer, specialising in general insurance. Our direct insurance arm – MORE TH>N – is one of the UK’s top three personal motor and household insurance companies and we also cover many thousands of businesses, from small enterprises through to large multinational companies.
About CSC in Financial Services
CSC distinguishes itself through its time-tested ability to plan, build and operate highly reliable, efficient and secure business and IT solutions for leading financial services firms around the world.
To complement its capabilities in consulting, systems integration and outsourcing, CSC brings financial services industry knowledge and experience, a comprehensive portfolio of financial services application software and an extensive network of industry and technology partners. CSC’s financial clients include more than 1,200 major banks, insurers and investment management and securities firms.
About CSC
CSC is a global leader in providing technology-enabled solutions and services through three primary lines of business. These include Business Solutions and Services, the Managed Services Sector and the North American Public Sector. CSC’s advanced capabilities include system design and integration, information technology and business process outsourcing, applications software development, Web and application hosting, mission support and management consulting. The company has been recognized as a leader in the industry, including being named by FORTUNE Magazine as one of the World’s Most Admired Companies for Information Technology Services (2011). Headquartered in Falls Church, Va., CSC has approximately 93,000 employees and reported revenue of $16.2 billion for the 12 months ended December 31, 2010. For more information, visit www.csc.com.
