NTUC Income Partners CSC to Drive Its Transformation

News Release -- July 02, 2010

Singapore – July 2, 2010 CSC (NYSE:CSC), today, announced that NTUC Income will deploy CSC’s FUTUREFirst/Asia (FFA) solution to support the company’s fast-growing insurance and healthcare business. This deployment will drive key business benefits for NTUC Income which is Singapore’s leading composite insurance provider offering life, health, general insurance and investment-linked products to two million policyholders in Singapore. CSC’s FFA automates the entire process necessary to operate an insurance business, including underwriting, customer service, distribution, management, billing and collection, and claims. 

NTUC Income Chief Executive Tan Suee Chieh said: “As part of our commitment to be the biggest and the best insurer in Singapore, we started transforming NTUC Income three years ago in key areas such as our systems, processes and practices. CSC’s FutureFirst Asia has a proven track record in driving IT efficiencies that contribute to business success, so it will support our transformation by making Income a more professionalized and competitive financial institution.”

Mr Tan added: "We welcome CSC as a business partner of NTUC Income and look forward to a long-term business relationship with them.”

“CSC and NTUC Income share similar values,” said Doug Benfield, Vice President, Financial Services Group, CSC Asia.  “At CSC, pride, passion and ingenuity underpin everything we do, and every day we try to make a difference to our customer’s lives.  In the same way, NTUC Income makes a difference to the lives of its customers by providing them with affordable solutions that offer peace of mind. This deployment will enable NTUC Income to quickly and affordably launch innovative products and improve both retail and corporate customer service.”

NTUC Income is Singapore’s leading health insurance provider, with more than 800,000 individuals insured under its private shield plans. The company recorded 12.6 percent growth (to $3 billion) in 2009, a welcome trend that nevertheless underscored the need for more sophisticated technology to keep its business running smoothly as it expands.

NTUC Income chose FFA after an extensive review due to CSC’s successful track record and reputation for constant innovation, and will begin implementing the software for its Group and Healthcare business.  Benefits of the deployment will include:

Improved Customer Service: FFA will pave the way to a more seamless flow of information on customer records across a single platform, transforming Income’s services and processes from being department-centric to customer-centric approach.  Front-line staff will be able to view customers’ records on a single platform without having to log into different systems. This will let them provide more timely information to customers.

Improved Underwriting and Claims Management: Customer claims and medical records will be centrally linked-up across the organization, so that underwriters and claim assessors can access the latest information in a timely fashion even across different business departments. By breaking down barriers to inter-operability of systems, FFA will enable more thorough assessment in less time and with greater holistic accuracy. The ease of coordination will contribute significantly to improved underwriting or claim decision outcomes.

Lower Costs for Customers: FFA will also reduce the costs for Income’s customers, as ready access to information such as past medical reports will eliminate unnecessary repeat orders for underwriters or claim assessors in different business departments.

Better Support for Distribution Partners: NTUC Income would also be able to provide a more holistic support to its distribution channels through enhanced information linkages with other product lines.

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About NTUC Income

NTUC Income was established in 1970 to provide affordable insurance for workers in Singapore. As a social enterprise, it was made different from the start with a mission to provide value for customers, and not to maximise profits for shareholders.   Since 2007, NTUC Income has been transforming into a modern financial institution to meet the needs of an increasingly sophisticated and affluent generation. NTUC Income, with about 2 million customers, is today a major force in the industry, having attained leadership positions in life, health, annuity and motor insurance.  NTUC Income's insurance plans benefit large numbers of Singaporeans from all strata of society, and the company supports the community through financial contributions to charities and other worthy causes.  But even as it achieves commercial leadership, NTUC Income is always mindful of its social purpose to make insurance accessible, affordable and sustainable for all. NTUC Income makes a yearly contribution of close to $3 million towards charity, community and NTUC-related causes.

 

About CSC

CSC is a global leader in providing technology-enabled solutions and services through three primary lines of business. These include Business Solutions & 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 (2010). Headquartered in Falls Church, VA., CSC has approximately 94,000 employees and reported revenue of $16.1 billion for the 12 months ended April 2, 2010. For more information, visit the company’s Web site at www.csc.com.