News Article -- December 22, 2008

CSC Wins Industry Award with Zurich Financial Services

ZURICH'S UK LIFE BUSINESS NOW GETTING AN AVERAGE OF 60,000 NEW ELECTRONIC QUOTATION REQUESTS A DAY THROUGH EXTRANET SOLUTION

At the prestigious 2008 annual ceremony of The National Outsourcing Association Awards for Best Practice in Outsourcing (*see below for further information on the awards) CSC and Zurich Financial Services have been awarded Financial Services Project of the Year for their work together on the development and implementation of an Extranet solution for Zurich’s UK Life business.

 As one of the world’s largest insurance-based financial services providers, Zurich Financial Services understood the need to adapt to changing dynamics in the insurance marketplace.  In early 2006, the company reviewed its propositions and developed its products for electronic access, with a view to building an e-business channel strategy from the ground up.

Realising that electronic transactions were key to generating new business quotation opportunities, Zurich's e-business channel strategy was to focus on the development of an Extranet and improve its presence on IFA portals. 

 Zurich already had a long-term relationship with CSC, through a seven-year applications outsourcing contract that began in 2004.  CSC began the process by transitioning in-flight development and support from BEA, and simultaneously developing the web presence for Mutual Funds products. The projects were managed from the UK, with delivery of Mutual Funds led by a team from CSC’s competency centre in Spain, Expert Underwriting by a team from the UK and India, and Plan Enquiry by a team in the UK and Germany.

The resulting Extranet solution – known as e-Chassis – has policy enquiry facilities and a link to Self Invested Pension Plans (SIPP), where clients can buy and sell equities and mutual funds. With some 90 per cent of life insurance quotations now transacted electronically, Zurich UK Life now gets an average of 60,000 new electronic quotation requests a day.  CSC demonstrated best practice by putting a global support team of 120 skilled specialists on the project, from the start.

 The most innovative step in this project was the creation of the joint development process (JDP). Doing so established a partnership, avoiding the pitfalls of many supplier relationships by giving CSC a stake in the success of the end result.  The project achieved its goals beyond all expectation, as evidenced by the fact that the Zurich Global Life Executive Committee has chosen the e-Chassis Extranet solution as the global platform of choice for all e-business applications.

The National Outsourcing Associations’ Awards for Best Practice in Outsourcing

 The National Outsourcing Associations’ Awards for Best Practice in Outsourcing are in their fifth year and recognise and reward innovation and achievement by suppliers, users and integrated teams within  the outsourcing industry. The winners represent the length and breadth of the outsourcing industry, from banking to telecoms, small companies to large, individuals and major corporates. This year’s awards ceremony took place on 23^rd October 2008. at the Park Plaza Riverbank in central London, The National Outsourcing Association Awards are unique in that they are completely independent, and as such they are highly respected and coveted within the industry.