CSC (NYSE: CSC) today announced it received the XCelent Service 2010 award from Celent, a research and consulting firm. The award, announced in a new Celent report titled, “North American Life Insurance New Business and Underwriting Systems, 2010,” is based on a survey of insurers’ experiences with CSC’s nbAccelerator, a complete new business risk assessment and process management system, as compared to those of other solutions profiled in the report.
The report uses Celent’s proprietary framework called the ABCD Vendor View to profile and benchmark the offerings of 12 providers of life insurance new business processing solutions across four dimensions. Vendors with the highest score in each category are recognized as XCelent award winners. CSC received the top rating in the “Depth in Client Service” category based on client feedback on implementation experiences and how closely actual implementations matched with set expectations. Additionally, Celent used other indicators to measure customer service, including the number of full-time employees assigned to client service initiatives, average industry experience of service staff, and whether application service provider (ASP) or software as a service (SaaS) offerings were available.
“CSC is among a handful of vendors that have made their mark by offering a strong combination of advanced technology, robust features, usability and services to life insurers and annuity providers,” said Karen Monks, Celent analyst. “In general, clients were very happy with their nbAccelerator implementations and found the delivered application to be true to what was promised. Celent considers CSC’s nbAccelerator a worthwhile candidate for an insurer to consider when looking for a new business processing and underwriting system.”
Launched in November, Celent’s XCelent Awards are designed to help financial services firms and technology providers stay abreast of industry trends by evaluating the vendor marketplace and awarding technology best practices according to Celent’s ABCD Vendor View.
“We are honored to receive the XCelent Service Award in life insurance new business and underwriting based on our clients’ experiences with nbAccelerator,” said Michael W. Risley, president of CSC’s Life Insurance and Annuity Division. “By enabling straight-through processing of life and annuity contracts, nbAccelerator reduces underwriting complexity and empowers insurers to provide faster service to agents and policyholders. nbAccelerator is backed by CSC’s 40-plus years of insurance industry experience.”
nbAccelerator combines underwriting automation, document management and production-proven work management on a single platform. The software enables straight-through processing to speed handling and to eliminate the need for duplicate entry, resulting in greater accuracy, lower administrative costs and shortened time to issue. For more information on CSC’s nbAccelerator, visit www.csc.com/nbAccelerator.
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 (2010). Headquartered in Falls Church, Va., CSC has approximately 94,000 employees and reported revenue of $16.1 billion for the 12 months ended October 1, 2010. For more information, visit the company’s website at www.csc.com.