Safety Insurance Selects CSC's Policy Administration Software and Outsourcing Services
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Agreement Includes CSC's Exceed Software and Managed Hosting Services
EL SEGUNDO, Calif., Dec. 11 - Computer Sciences Corporation (NYSE: CSC) today announced that Safety Insurance Group Inc. (NASDAQ: SAFT) has licensed CSC's Exceed Claims, Billing and Client insurance software. Safety also has signed a 10-year agreement with CSC for applications support and managed hosting services. Safety plans to process policies for lines of insurance business other than auto on Exceed components to provide more flexible and scalable billing and claims services to its customers. Terms of the agreement were not disclosed.
A CSC client since 1997, Boston-based Safety Insurance has used CSC's Series II software and services to develop Web services for its independent agents and a straight-through processing platform for its personal and commercial auto business. Under the new 10-year agreement, CSC will host Safety's system at CSC's data center in Blythewood, S.C. (where Series II is also hosted), manage the insurance company's information technology (IT) infrastructure and security, and provide applications maintenance.
"Policy processing is the basis of everything we do," said Jim Berry, Safety vice president of Insurance Operations. "CSC takes an active role in our day-to-day world, and with their software and services supporting our robust processing platform, we have been able to grow in our challenging market."
"Building long-term relationships with our clients has helped us develop insurance solutions that evolve with the industry's needs," said Ray August, president of the Property & Casualty (P&C) Insurance division of CSC's Financial Services Group. "CSC's experience in delivering positive business results for Safety Insurance proves our approach works."
CSC's Exceed, a comprehensive set of software components for the P&C casualty insurance industry, extends, enhances and evolves administration legacy systems for large insurers, as well as supports system replacement. The system's architecture, which is built around a thin-client presentation, is based on industry-standard ACORD XML.
With Exceed Billing, customer service representatives, agents and insurance customers enter, review and edit billing information in real time through a standard Internet browser. Exceed Claims supports each step of the claims process, including notice of loss, policy and coverage verification, and financial processing and workload management. Exceed Client, which enables insurers to compile comprehensive customer profiles, also includes functions for marketing opportunities such as cross-selling.
About Safety Insurance
Safety Insurance Group, Inc. is the parent of Safety Insurance Company and Safety Indemnity Insurance Company, which are Boston, Mass., -based writers of property and casualty insurance. Safety is the second largest writer of personal automobile insurance in Massachusetts.
About CSC
Computer Sciences Corporation is a leading global 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 78,000 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 $14.6 billion for the 12 months ended Sept. 29, 2006. For more information, visit the company's Web site at www.csc.com.
