Computer Sciences Corporation (NYSE:CSC) today announced the availability of new releases of its life insurance, annuity, property and casualty (P&C) insurance, and reinsurance software components that implement the company's enterprise integration architecture, CSC e4. By using the CSC e4 framework, clients can exploit both the potential of new technologies and the embedded value in their legacy systems.
CSC e4 uses open standards such as ACORD's standard for the insurance, reinsurance and related financial services industries. The architectural framework helps financial services companies renovate core systems, reducing the need for full-scale systems replacement projects, and exploit new software components that target specific functions. CSC e4-compliant systems can be easily configured and rapidly integrated with other applications, both inside and outside the insurer's enterprise.
"Having recently overhauled its software portfolio through the development of a new common integration architecture, CSC e4, CSC goes to market with a strong proposition for insurance," technology analyst firm Datamonitor said in its report "European Insurance Technology Opportunities." "The key features of the solution are its openness and component-based structure which, coupled with CSC's services capabilities, will appeal to insurers looking to progressively overhaul their architecture."
The latest releases of CSC's core insurance administration systems now support CSC e4, including CyberLife STP, FUTUREfirst and VANTAGE-ONE Mid-Tier products for life insurance and annuity providers; Exceed, POINT IN and RISKMASTER for P&C insurers; and SICS/nt for reinsurers.
For life and annuity carriers, CSC has also introduced customer service software, csAccelerator. This new software is part of the CSC "Accelerator" product line. CSC's Accelerator products integrate the CSC e4 business process capabilities of DST Technologies' Automated Work Distributor (AWD) and CSC's Visual Product Modeling System (VP/MS). CSC has also introduced new releases of PerformancePlus and XML Gateway, which now use the ACORD XML data exchange standards to drive successful CSC e4 integration.
For P&C insurers, CSC has introduced new CSC e4-compliant releases of CSC's administrative systems and claims and legal components that work together, including CSC's Colossus for bodily injury evaluation; @First for fraud evaluation; Patriot Protector, which enables compliance with the U.S. Treasury Office of Foreign Assets Control's sanctions; and LitigationAdvisor's Legal eBill, Legal Bill Analyzer and Legal Matter Management components.
"CSC continues to invest in research and development to enhance the business value of the industry's most trusted software product brands," said Jim Cook, president of CSC's Financial Services Group. "The CSC e4 architecture and our software products help insurers modernize their business processes while protecting existing investments in people and technology. This makes business process change practical."