This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

CSC Introduces New Policy Administration Component For North American Property & Casualty Insurers

CSC (NYSE: CSC) today introduced a new policy management software component, Policy Accelerator, for top- and mid-tier North American insurers seeking a best-of-breed approach to modernizing their property and casualty (P&C) insurance processing. Derived from CSC’s widely used POINT IN system, Policy Accelerator delivers significantly enhanced functionality supporting all North American jurisdictions and all lines of business, including personal, commercial, workers’ compensation, niche and specialty lines. Architected to support growth and customer retention, it simplifies software maintenance and enhancements, improves efficiency and new product speed to market, and lowers total cost of ownership.

Four insurers have selected Policy Accelerator as their replacement component of choice and are in various stages of implementation. Among them is a leading P&C and specialty lines carrier that is consolidating multiple systems and enhancing its product portfolio. In addition, three current POINT IN clients are in the process of migrating to Policy Accelerator, while a number of others are in roadmap discussions with CSC. The new component, incorporating significant CSC investments, will feature user configurability through Product Accelerator, CSC’s global, multiline insurance product configurator and product life cycle management system.

“Business changes are forcing North American P&C insurers to adopt new processes, offer new functionality and process transactions at a faster pace that is not supported in current-day systems,” said Jeff Haner, principal analyst at Gartner, in his report: MarketScope for North American Property and Casualty Insurance Policy Management Modules. “As they face these industry trends and internal pressures, many North American P&C insurers have reached a tipping point, where policy administration system replacement is crucial to survival and competitive positioning.”

Policy Accelerator facilitates modernization initiatives as a replacement and consolidation component. It easily integrates with insurers’ existing systems or can be implemented together with other CSC billing, claims and agent portal software. Coded entirely in Java with a service-oriented architecture based on insurance industry standards, Policy Accelerator is fully configurable without the need for source code modification and can scale to handle large transaction volumes and administration of large-risk and high-premium policies. It can be deployed on-premises or with CSC hosting and providing business process services.

“CSC recognizes that speed and efficiency are critical to the P&C industry, and we are committed to delivering modern solutions to improve business agility,” said Jeffery Schwalk, president of CSC’s Property and Casualty Insurance Division. “By collaborating with our extensive client community, CSC has developed many new functions using next-generation technology, which have now been incorporated into Policy Accelerator.”

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,042.99 -92.73 -0.51%
S&P 500 2,095.27 -5.77 -0.27%
NASDAQ 4,979.6310 -3.1780 -0.06%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs