CSC Signs Business Process Outsourcing Services Contract with Global Insurer
CSC Software and Services to Support Client’s Structured Settlements Business
EL SEGUNDO, Calif.– Computer Sciences Corporation (NYSE: CSC) today announced that a leading global provider of healthcare and other insurance products has selected CSC’s business process outsourcing (BPO) services to support its structured settlements business. The insurer will replace its manual processes and a non-strategic system with CSC’s platforms and services, enabling the company to focus more on its core healthcare products.
Under the five-year agreement, CSC will administer and disburse payments for the client’s structured settlement products, which provide a series of periodic annuity payments. CSC’s life insurance and annuity BPO services team will provide full back-office services and technical support, including end-to-end contract administration, a customer call center, financial reporting and payment processing. CSC will use its Wealth Management Accelerator software, which provides a single comprehensive administration system for both asset accumulation and disbursement.
“Combining our extensive BPO operations with innovative systems like Wealth Management Accelerator gives our clients cost-effective solutions that deliver viable operational results,” said Michael W. Risley, president of the Life and Annuity division of CSC’s Financial Services Sector. “Whether for full investment product policy administration or specialized functions like payout processing or closed blocks of business, we can scale our BPO services to our clients’ needs.”
CSC provides full policy and claims administration, including structured settlements, for nearly four million policies. Services encompass every type of life insurance and annuity product and leverage CSC’s established, global resources.
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