CSC’S Life Insurance Incentive Compensation Management Systems Reach 1.5 Million-Distributor Milestone
Lincoln Financial Group Converts Insurance Producers to CSC’s PerformancePlus Software
EL SEGUNDO, Calif.- Computer Sciences Corporation (NYSE: CSC) today announced that CSC’s incentive compensation management (ICM) software now processes life insurance commissions for more than 1.5 million U.S. distributors, agents and producers. CSC reached this milestone with the conversion of Lincoln Financial Group’s systems to CSC’s PerformancePlus software.
Lincoln Financial Group, one of the nation’s top 10 life and annuity providers, has converted a block of agents and producers to CSC’s PerformancePlus in conjunction with the launch of a new product portfolio. PerformancePlus, which stores and manages detailed information on distributors and their relationships, computes compensation based on a wide range of commission formulas. Its reporting capabilities allow managers to measure distributor performance and profitability, and identify and customize compensation plans to fit changing business conditions.
“At Lincoln Financial Group we take an enterprise-wide approach to serving our producers, regardless of the business areas they represent,” said Charles C. Cornelio, chief information officer and senior vice president of Shared Services for Lincoln Financial Group. “PerformancePlus gives us the flexibility to meet our distribution partners’ needs, and enhances our ability to deliver accurate and timely payments.”
“Enhancing the relationship with distributors, agents and producers is crucial to leading life and annuity carriers like Lincoln,” said Michael W. Risley, president of the Life and Annuity division of CSC’s Financial Services Sector. “PerformancePlus’ widespread use is evidence of its business value to this market.”
More U.S. life insurers use CSC’s enterprise-wide ICM systems, PerformancePlus and its predecessor, Distribution Support System, than any other ICM software. This includes nearly half of the top 25 U.S. payers of total commissions on direct insurance premiums and annuity consideration as ranked by A.M. Best. Designed specifically for life insurance and annuity providers, the systems help insurers align compensation programs with market objectives, open new distribution channels and consolidate systems.
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