Source: Computer Sciences Corporation
Computer Sciences Corporation (NYSE: CSC) today announced that it has signed an applications outsourcing contract with ING Life Insurance Company Ltd., Japan (ING Life Japan). The contract is valued at $11.8 million over five years.
Under the terms of the agreement, CSC will provide a range of development and maintenance services to support 25 of ING Life Japan's business system applications, including CSC's LIFE/J system, an administration solution that supports the processing of life and pension products through the entire life cycle of an insurance policy.
"This contract with ING Life Japan marks CSC's commitment to the application outsourcing business in the insurance sector across Asia," said Mike Brinsford, president of CSC's operations in Asia. "The depth and breadth of our experience in application support, combined with our global best practices, ideally position CSC to help ING Life Japan achieve significant business results."
"This contract with CSC will allow us to leverage CSC's core competencies and experience in applications management to deliver effective insurance services to our customers in Japan. Having the ability and flexibility to respond to customer and market demand is important for us to gain competitive advantage in the insurance industry," said Evert Nooter, chief information officer of ING Life Insurance.
CSC provides applications management services to more than five million life insurance, annuity and pension contracts representing $3.5 billion in premiums, and more than three million property and casualty (general) insurance policies representing $4 billion in premiums. This includes full life cycle support for application portfolios, maintenance, enhancements, development, upgrades, production support and user support.