Csc Bpo
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Life and Annuity Outsourcing Services
Business Process Outsourcing
A Swift, Practical Solution Retain valuable customers. Shed operating costs. Focus on your core business.
BPO CORE COMPETENCIES Acquisition and Conversion Support New Business Processing Underwriting Services Policyholder Services Call Center Support Billing and Collections Claims Processing and Adjudication Appointments and Licensing Compensation and Commission Fund Management and Trading Accounting and Finance Operations Management and SLA Reporting Mail and Publishing Operations Imaging and Workflow Support
Progressive carriers are seeking creative yet practical ways to fulfill these classic missions without sacrificing customer service and quality standards. That’s why carriers rely on CSC’s business process outsourcing (BPO) services to transform their traditional business models and achieve measurable results. CSC’s BPO services encompass all of the activities needed to launch, convert, implement and administer virtually any type of life and annuity product. Our extensive processing expertise coupled with a diversified suite of proven applications enable us to deliver a tailored solution while leveraging CSC’s vast scale and global operation centers.
Supported Products Term Whole Life Interest Sensitive Whole Life Universal Life Variable Life Fixed Annuities Variable Annuities Pre-Need/Final Expense Disability Income Accident and Health
CSC’s BPO clients are free to focus on the essential aspects of their business while harvesting the customer and asset value of their outsourced blocks. These companies are realizing greater financial flexibility by turning their static operations into dynamic ones.
BPO Deployment Models
A Disciplined Approach
Decades of experience have shown us that no two outsourcing engagements are the same. At CSC, we tailor our approach to accommodate the business objectives, timelines and budgetary needs of our clients. Whether you are launching a new product, revitalizing closed block portfolios or growing through acquisition, CSC’s BPO models ensure a smooth transition and ongoing world-class operations. ♦ Our Lift and Move model allows carriers to quickly shed legacy overhead and processing costs without the need to perform an upfront conversion. This model is best suited for large blocks that are already running on one of CSC’s platforms. ♦ Our Convert and Process model is ideal for carriers seeking to integrate newly acquired or existing books that are being processed on costly proprietary or vendor legacy systems. CSC converts the policies to one of our leading enterprise platforms using stringent due diligence and conversion methods. ♦ Our Launch and Process model enables carriers to rapidly launch new products, capitalize on additional distribution channels or segment specific markets such as affinity groups.
CSC’s dedicated, multi-disciplined conversion team has Managed completed more than 100 Infrastructure conversions and transitions over the past five years. Our time-tested methodology simplifies the conversion and implementation process and assures minimal disruption to your existing operations. Automated conversion programs, balancing procedures and stringent auditing techniques are used to deliver predictable and accurate data results. Post production procedures ensure converted policies are processed accurately in the new BPO environment.
Process Automation Business process automation is key to maximizing efficiency and productivity while keeping errors and per-policy costs to a minimum. CSC’s global BPO network is digitally connected using advanced workflow, imaging and integrated voice response technology. Automated Work Distributor (AWD), a sophisticated business process management tool, digitizes forms and correspondence and automates the assignment of tasks, balancing workloads and routing the work to the bestqualified and available employees, regardless of location. U.S. customer service calls can be answered by CSC representatives in Illinois, Texas or South Carolina while back-office
Why Outsource with CSC? • Customized approach backed by industry best practices • Growth without additional infrastructure or capital expenditures • Faster speed to market with new offerings • Lower, more predictable operational costs • Access to deep business and technical expertise • Controlled and balanced infusion of global resources
Our Accomplishments CSC earns clients’ trust everyday by meeting and exceeding service level requirements, delivering projects on time and on budget, offering creative and innovative solutions to challenging problems and leveraging our experience to achieve measurable business results. Here are a few examples of our successes.
Case Study #1: Converting Closed Blocks into Strategic Assets This carrier saw an opportunity to transform closed blocks into strategic assets through a new business model. Since 1995, the carrier has acquired more than 40 blocks of life business totaling 2.4 million policies. The carrier did not want to commit the full-time resources needed to execute and maintain the supporting infrastructure and ongoing policy administration of the acquired blocks. Recognizing that it also did not have the internal experience to transition these blocks from disparate legacy systems into one consolidated platform, the carrier sought the expertise of CSC to assist throughout the
administration tasks such as changes in address, policy loans or surrenders can be routed to CSC resources in South Africa or India. Business-based metrics and service level standards ensure accountability and continuous improvement over time. CSC has developed an innovative tool, STARS, to define, manage and communicate service level results against each client’s defined service agreements. STARS is fully integrated into CSC’s BPO workflows, allowing personnel to consistently monitor and report on service level status and initiate escalation and improvement procedures as necessary. Advanced features support the modeling of service level changes prior to implementation, allowing CSC to optimize business processes without sacrificing quality.
Experience Counts Gaining experience can be time-consuming and expensive for you. But CSC’s BPO services have been time-tested for more than 30 years. CSC’s highly experienced professionals know what works and what doesn’t. They’ve been inside hundreds of insurance companies like yours. They understand how to integrate people, processes and
acquisition cycle—from initial due diligence through transition to an outsourcing platform and ongoing policy administration support.
Case Study #2: The Right Balance of Speed, Service and Economics When a top-20 U.S. life insurer executed a reinsurance agreement on a block of universal life policies, the company needed to migrate the administration from the ceding company within six to eight months. The company didn’t want to rely on the ceding company for administration any longer than necessary. “We wanted to be confident that the transition would go smoothly,” says a representative of the company’s operations department. “We had commitments in
technology to deliver results that provide real business value to your company. Many of our employees previously held positions in insurance companies and have specialized skills in a variety of products, from traditional life to variable life to variable annuities. Others have been recruited from securities firms, brokerage firms and banks, as well as life and annuity industry organizations. In addition to having deep business process knowledge, our professionals also have experience with a wide range of life and annuity systems. They know how to convert policies to CSC’s systems smoothly and efficiently. Our BPO centers support a comprehensive suite of CSC mainframe and midrange solutions that are unmatched in the life insurance industry. Our clients can choose the best solution based on their BPO model, product needs and budgets. For more information about our Life and Annuity Outsourcing Services, call CSC at 800.345.7672 or send an e-mail to [email protected] and refer to Brochure No. 596.
the reinsurance agreement with the ceding company on the quality of support we’d provide. So we needed to be confident that our service levels would be met.” The firm brought CSC on board, and six months later the operation went live. CSC handled most of the rollout and setup activities, including process documentation, working with the ceding company’s IT staff to understand software modifications, developing detailed transition plans and providing ongoing administration of the policies. CSC gave this insurer the rush delivery it needed to acquire new blocks of business without placing a strain on internal resources. Experienced professionals ensured that service levels were maintained.
Computer Sciences Corporation Financial Services Group Suite #100 200 W. Cesar Chavez Austin, Texas 78701 +1.512.345.5700 +1.800.345.7672
Worldwide CSC Headquarters The Americas 2100 East Grand Avenue El Segundo, California 90245 United States +1.310.615.0311 Europe, Middle East, Africa The Royal Pavilion Wellesley Road Aldershot Hampshire GU11 1PZ United Kingdom +44(0)1252.534000 Australia/New Zealand 26 Talavera Road Macquarie Park, NSW 2113 Australia +61(0)2.9034.3000 Asia/Pacific 139 Cecil Street #08-00 Cecil House Singapore 069539 Republic of Singapore +65.6221.9095
About CSC Computer Sciences Corporation, one of the world’s leading consulting and IT services firms, helps clients in industry and government achieve strategic and operational results through the use of technology. The company’s success is based on its culture of working collaboratively with clients to develop innovative technology strategies and solutions that address specific business challenges. Having guided clients through every major wave of change in information technology since 1959, CSC combines the newest technologies with its capabilities in consulting, systems design and integration, IT and business process outsourcing, applications software, and Web and application hosting to meet the individual needs of global corporations and organizations. About CSC in Financial Services CSC distinguishes itself through its time-tested ability to plan, build and operate highly reliable, efficient and secure business and IT solutions for leading financial services firms around the world. To complement its capabilities in consulting, systems integration and outsourcing, CSC brings financial services industry knowledge and experience, a comprehensive portfolio of financial services application software and an extensive network of industry and technology partners. More than 10,000 CSC employees are dedicated to serving financial services clients, including more than 1,500 major banks, insurers, healthcare organizations, and investment management and securities firms. www.csc.com Copyright © 2004 Computer Sciences Corporation. All rights reserved. Printed in USA 596041k
Business Process Outsourcing
A Swift, Practical Solution Retain valuable customers. Shed operating costs. Focus on your core business.
BPO CORE COMPETENCIES Acquisition and Conversion Support New Business Processing Underwriting Services Policyholder Services Call Center Support Billing and Collections Claims Processing and Adjudication Appointments and Licensing Compensation and Commission Fund Management and Trading Accounting and Finance Operations Management and SLA Reporting Mail and Publishing Operations Imaging and Workflow Support
Progressive carriers are seeking creative yet practical ways to fulfill these classic missions without sacrificing customer service and quality standards. That’s why carriers rely on CSC’s business process outsourcing (BPO) services to transform their traditional business models and achieve measurable results. CSC’s BPO services encompass all of the activities needed to launch, convert, implement and administer virtually any type of life and annuity product. Our extensive processing expertise coupled with a diversified suite of proven applications enable us to deliver a tailored solution while leveraging CSC’s vast scale and global operation centers.
Supported Products Term Whole Life Interest Sensitive Whole Life Universal Life Variable Life Fixed Annuities Variable Annuities Pre-Need/Final Expense Disability Income Accident and Health
CSC’s BPO clients are free to focus on the essential aspects of their business while harvesting the customer and asset value of their outsourced blocks. These companies are realizing greater financial flexibility by turning their static operations into dynamic ones.
BPO Deployment Models
A Disciplined Approach
Decades of experience have shown us that no two outsourcing engagements are the same. At CSC, we tailor our approach to accommodate the business objectives, timelines and budgetary needs of our clients. Whether you are launching a new product, revitalizing closed block portfolios or growing through acquisition, CSC’s BPO models ensure a smooth transition and ongoing world-class operations. ♦ Our Lift and Move model allows carriers to quickly shed legacy overhead and processing costs without the need to perform an upfront conversion. This model is best suited for large blocks that are already running on one of CSC’s platforms. ♦ Our Convert and Process model is ideal for carriers seeking to integrate newly acquired or existing books that are being processed on costly proprietary or vendor legacy systems. CSC converts the policies to one of our leading enterprise platforms using stringent due diligence and conversion methods. ♦ Our Launch and Process model enables carriers to rapidly launch new products, capitalize on additional distribution channels or segment specific markets such as affinity groups.
CSC’s dedicated, multi-disciplined conversion team has Managed completed more than 100 Infrastructure conversions and transitions over the past five years. Our time-tested methodology simplifies the conversion and implementation process and assures minimal disruption to your existing operations. Automated conversion programs, balancing procedures and stringent auditing techniques are used to deliver predictable and accurate data results. Post production procedures ensure converted policies are processed accurately in the new BPO environment.
Process Automation Business process automation is key to maximizing efficiency and productivity while keeping errors and per-policy costs to a minimum. CSC’s global BPO network is digitally connected using advanced workflow, imaging and integrated voice response technology. Automated Work Distributor (AWD), a sophisticated business process management tool, digitizes forms and correspondence and automates the assignment of tasks, balancing workloads and routing the work to the bestqualified and available employees, regardless of location. U.S. customer service calls can be answered by CSC representatives in Illinois, Texas or South Carolina while back-office
Why Outsource with CSC? • Customized approach backed by industry best practices • Growth without additional infrastructure or capital expenditures • Faster speed to market with new offerings • Lower, more predictable operational costs • Access to deep business and technical expertise • Controlled and balanced infusion of global resources
Our Accomplishments CSC earns clients’ trust everyday by meeting and exceeding service level requirements, delivering projects on time and on budget, offering creative and innovative solutions to challenging problems and leveraging our experience to achieve measurable business results. Here are a few examples of our successes.
Case Study #1: Converting Closed Blocks into Strategic Assets This carrier saw an opportunity to transform closed blocks into strategic assets through a new business model. Since 1995, the carrier has acquired more than 40 blocks of life business totaling 2.4 million policies. The carrier did not want to commit the full-time resources needed to execute and maintain the supporting infrastructure and ongoing policy administration of the acquired blocks. Recognizing that it also did not have the internal experience to transition these blocks from disparate legacy systems into one consolidated platform, the carrier sought the expertise of CSC to assist throughout the
administration tasks such as changes in address, policy loans or surrenders can be routed to CSC resources in South Africa or India. Business-based metrics and service level standards ensure accountability and continuous improvement over time. CSC has developed an innovative tool, STARS, to define, manage and communicate service level results against each client’s defined service agreements. STARS is fully integrated into CSC’s BPO workflows, allowing personnel to consistently monitor and report on service level status and initiate escalation and improvement procedures as necessary. Advanced features support the modeling of service level changes prior to implementation, allowing CSC to optimize business processes without sacrificing quality.
Experience Counts Gaining experience can be time-consuming and expensive for you. But CSC’s BPO services have been time-tested for more than 30 years. CSC’s highly experienced professionals know what works and what doesn’t. They’ve been inside hundreds of insurance companies like yours. They understand how to integrate people, processes and
acquisition cycle—from initial due diligence through transition to an outsourcing platform and ongoing policy administration support.
Case Study #2: The Right Balance of Speed, Service and Economics When a top-20 U.S. life insurer executed a reinsurance agreement on a block of universal life policies, the company needed to migrate the administration from the ceding company within six to eight months. The company didn’t want to rely on the ceding company for administration any longer than necessary. “We wanted to be confident that the transition would go smoothly,” says a representative of the company’s operations department. “We had commitments in
technology to deliver results that provide real business value to your company. Many of our employees previously held positions in insurance companies and have specialized skills in a variety of products, from traditional life to variable life to variable annuities. Others have been recruited from securities firms, brokerage firms and banks, as well as life and annuity industry organizations. In addition to having deep business process knowledge, our professionals also have experience with a wide range of life and annuity systems. They know how to convert policies to CSC’s systems smoothly and efficiently. Our BPO centers support a comprehensive suite of CSC mainframe and midrange solutions that are unmatched in the life insurance industry. Our clients can choose the best solution based on their BPO model, product needs and budgets. For more information about our Life and Annuity Outsourcing Services, call CSC at 800.345.7672 or send an e-mail to [email protected] and refer to Brochure No. 596.
the reinsurance agreement with the ceding company on the quality of support we’d provide. So we needed to be confident that our service levels would be met.” The firm brought CSC on board, and six months later the operation went live. CSC handled most of the rollout and setup activities, including process documentation, working with the ceding company’s IT staff to understand software modifications, developing detailed transition plans and providing ongoing administration of the policies. CSC gave this insurer the rush delivery it needed to acquire new blocks of business without placing a strain on internal resources. Experienced professionals ensured that service levels were maintained.
Computer Sciences Corporation Financial Services Group Suite #100 200 W. Cesar Chavez Austin, Texas 78701 +1.512.345.5700 +1.800.345.7672
Worldwide CSC Headquarters The Americas 2100 East Grand Avenue El Segundo, California 90245 United States +1.310.615.0311 Europe, Middle East, Africa The Royal Pavilion Wellesley Road Aldershot Hampshire GU11 1PZ United Kingdom +44(0)1252.534000 Australia/New Zealand 26 Talavera Road Macquarie Park, NSW 2113 Australia +61(0)2.9034.3000 Asia/Pacific 139 Cecil Street #08-00 Cecil House Singapore 069539 Republic of Singapore +65.6221.9095
About CSC Computer Sciences Corporation, one of the world’s leading consulting and IT services firms, helps clients in industry and government achieve strategic and operational results through the use of technology. The company’s success is based on its culture of working collaboratively with clients to develop innovative technology strategies and solutions that address specific business challenges. Having guided clients through every major wave of change in information technology since 1959, CSC combines the newest technologies with its capabilities in consulting, systems design and integration, IT and business process outsourcing, applications software, and Web and application hosting to meet the individual needs of global corporations and organizations. About CSC in Financial Services CSC distinguishes itself through its time-tested ability to plan, build and operate highly reliable, efficient and secure business and IT solutions for leading financial services firms around the world. To complement its capabilities in consulting, systems integration and outsourcing, CSC brings financial services industry knowledge and experience, a comprehensive portfolio of financial services application software and an extensive network of industry and technology partners. More than 10,000 CSC employees are dedicated to serving financial services clients, including more than 1,500 major banks, insurers, healthcare organizations, and investment management and securities firms. www.csc.com Copyright © 2004 Computer Sciences Corporation. All rights reserved. Printed in USA 596041k
