Computer Sciences Corporation (NYSE: CSC) today announced that four leading insurers have licensed its calculation and business rules modeling system, Visual Product/Modeling System (VP/MS). Jefferson Pilot Financial, Manulife USA, Ohio National Financial Services and an insurance company that ranks among the top five stock life and health insurers in the U.S. have selected CSC's software to speed the design and development of new insurance products.
VP/MS simplifies the creation and transfer of calculations, business rules and product definitions that users need to share across multiple systems and platforms, including the Internet. All four insurers, which also use CSC's VANTAGE-ONE policy administration system, will use VP/MS to augment VANTAGE-ONE's capabilities as they introduce new products to market.
"The integration of VP/MS and VANTAGE-ONE will give Jefferson Pilot greater flexibility and speed in product development," said Marvin Maynard, senior vice president and chief technology officer at Jefferson Pilot. "That directly translates into lower systems development and maintenance costs and faster time to market."
"Insurers continue to look to CSC for ways to transform their businesses while extending the life of their current systems," said Michael W. Risley, president of the Life and Health Division of CSC's Financial Services Group. "VP/MS, which has become the leading insurance calculation and business rules tool in the U.S., meets that challenge."