CSC (NYSE: CSC) today announced that Americo of Kansas City, Mo., has signed a 15-year contract for CSC's business process outsourcing (BPO) services.
Under the contract, CSC will manage a closed block of approximately 100,000 individual life and annuity insurance policies that Americo gained through the acquisition of Financial Industries Corporation (FIC).
CSC will perform full back-office services, including end-to-end contract administration, a customer call center, financial reporting and payment processing. The new contract expands a 16-year relationship between the two companies during which CSC has provided application management and production support services for existing blocks of business.
"For insurers like Americo that grow through acquisitions, the ability to outsource business processes adds the synergy they need to quickly assume control of acquired policies with minimal risk," said Michael W. Risley, president of CSC's Life & Annuity Insurance Division. "During the past 10 years, CSC has helped clients successfully complete more than 85 large-scale life insurance BPO transitions and transformations."