Celent Recognizes CSC’s Leadership in Property and Casualty Insurance Software
Three New Celent Reports Identify CSC as a Leading Software Vendor
EL SEGUNDO, Calif.- Computer Sciences Corporation (NYSE: CSC) today announced that financial services research and advisory firm Celent LLC has recognized CSC as a leading vendor in the property and casualty (P&C) insurance software industry.
Celent’s report, “Insurance Software Deal Trends 2005-2006, Property/Casualty Edition,” named CSC as a leading vendor in four categories: full policy administration, focused claims, comprehensive claims and agent portals. CSC was also recognized as a “Traction Index” leader, which Celent determined by a weighted score that measures the volume and type of agreements software companies made during 2005 and 2006. Celent has surveyed vendors to report the number of software license agreements with insurance carriers since 2001. For the past three years, CSC has signed the most P&C agreements of all the vendors identified as full policy administration system leaders.
In addition, the Celent report entitled “Policy Administration Systems 2007: Personal Lines Vendors” and its companion report, “Policy Administration Systems 2007: Commercial Lines Vendors,” both singled out CSC’s POINT IN policy administration software for leadership in functionality, size of client base and depth of client services. CSC’s Exceed policy administration software for large personal lines carriers was acknowledged as a leader in depth of client services and functionality.
“CSC is a large and experienced organization with deep insurance knowledge that offers practical and proven technology options for P&C carriers,” said Chad Hersh, senior analyst in Celent’s Insurance practice. “CSC’s POINT IN is a quick-to-implement, relatively inexpensive, richly functional system supporting nearly every P&C line of business — commercial and personal — whether installed in-house or outsourced. CSC’s Exceed policy administration system is a massively scalable, comprehensive offering that may be the only administration system currently on the market that can fulfill the requirements of very large personal lines carriers.”
“We appreciate the validation of firms such as Celent,” said Ray August, president of the Property and Casualty division of CSC’s Financial Services Sector. “We are committed to working with our client communities to provide complete, end-to-end software that enhances their business results.”
In its fourth annual Insurance Software Deal Trends report, Celent examined 1,405 deals that occurred in 2005 and 2006 between insurance carriers and 92 software vendors. Of this total, 55 percent of the agreements involved P&C insurers. The Policy Administration Systems 2007 reports for personal and commercial lines include full profiles for the roughly 30 systems that fully met Celent’s inclusion criteria plus limited profiles of about 15 additional systems. For more information, visit www.celent.com.
This news content was configured by WebWire editorial staff. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.