EL SEGUNDO, Calif., June 27 /PRNewswire/ -- Computer Sciences Corporation today announced a seven-year contract extension with Swiss Re, the world's leading reinsurer. Under the extension, which runs through March 2014, CSC will continue to provide business process outsourcing (BPO) services to support workers' compensation for Swiss Re's Commercial Insurance.
CSC will continue to provide end-to-end processing services to support Swiss Re's underwriting, rating, policy issuance and administration, cash processing and reporting to independent bureaus and industry databases. CSC administers the company's workers' compensation business on Swiss Re's CyberComp platform, which CSC built based on its POINT policy administration and Agency Link software. CyberComp, which Swiss Re uses in 24 states, enables agents and employers to underwrite workers' compensation coverage and handle claims. Agents can enter data, obtain quotes and issue policies online, all in a matter of minutes.
"CSC's BPO services have allowed Swiss Re to focus on delivering exceptional service and world-class risk transfer capabilities to our clients," said Jeff Argotsinger, CyberComp leader for Swiss Re's Commercial Insurance. "As we expand, CSC's BPO staff and scalable systems will ensure that our clients find us easy to work with."
"By continuously incorporating process innovation within our scalable BPO operations, which run on our POINT IN software, we are able to provide high quality, cost effective administration of policies and products," said Ray August, president of the Property and Casualty (P&C) Insurance Division of CSC's Financial Services Group. "CSC's customized insurance BPO services help our clients improve their operational results, freeing them to focus on launching new insurance products, managing underwriting risk and seeking new business opportunities."
CSC has been providing outsourcing services to Swiss Re since 1995, including supporting 2.6 million insurance policies representing more than $1.7 billion in insurance premiums for Swiss Re Life & Health in the United States and the United Kingdom. CSC's BPO services provide full insurance operations support and processing for more than 5.3 million policies representing more than $2.5 billion in P&C and $3 billion in life and annuity annual premiums.
About Swiss Re
Swiss Re is the world's leading and most diversified global reinsurer. The company operates through offices in more than 25 countries. Founded in Zurich, Switzerland, in 1863, Swiss Re offers financial services products that enable risk-taking essential to enterprise and progress. The company's traditional reinsurance products and related services for property and casualty, as well as the life and health business are complemented by insurance-based corporate finance solutions and supplementary services for comprehensive risk management. Swiss Re is rated "AA-" by Standard & Poor's, "Aa2" by Moody's and "A+" by A.M. Best.
Swiss Re's Commercial Insurance protects insureds with specialized needs in niche markets in the United States and Canada. Products include property and casualty insurance, professional liability insurance, excess medical expense and risk management services. Swiss Re's Commercial Insurance has served the primary insurance community since 1908 and is committed to providing service, creative solutions and security for its clients. Swiss Re's Commercial Insurance subsidiaries serve clients in property and casualty insurance, professional liability insurance and commercial risk management services.
About CSC
Computer Sciences Corporation is a leading global information technology (IT) services company. CSC's mission is to provide customers in industry and government with solutions crafted to meet their specific challenges and enable them to profit from the advanced use of technology.
With approximately 79,000 employees, CSC provides innovative solutions for customers around the world by applying leading technologies and CSC's own advanced capabilities. These include systems design and integration; IT and business process outsourcing; applications software development; Web and application hosting; and management consulting. Headquartered in El Segundo, Calif., CSC reported revenue of $14.9 billion for the 12 months ended March 30, 2007. For more information, visit the company's Web site at http://www.csc.com/.
