CSC (News - Alert) provides the full spectrum of business enabled technology for the financial services industry as they can follow a four-stage approach to migrating to cloud computing with CSC’s Trusted Cloud Services. The transition allows them to compete more efficiently in the global marketplace and create more agile operations with CSC’s industry-leading solutions, according to company officials.
Recently, the company expanded its business process services offerings to include full life-cycle adjudication and payment management for disability income claims. The company has already signed a leading multinational life insurance company as its first client.
Examining new and existing claims for comprehensive information, insurer benefit payments qualification and suitability of continued benefit payments, the company’s enhanced BPO team provides claims adjudication portfolio management services. Handling communications about claims decisions, denials and benefits exhausted, the team focuses on functions that are related to new claim acknowledgments, requirements and status information.
“Insurers of all sizes can benefit from CSC's scalable outsourcing services, whether carriers need full policy and claims administration support or a more limited scope of work, such as staff augmentation or function-based contracts to support high-volume transactions," said Michael W. Risley, president of CSC's Life Insurance and Annuity Division. "With this new offering, individual disability income writers now have access to deep claims knowledge and process expertise, while eliminating the challenges involved in maintaining an internal claims function.”
In other company news, recently CSC announced that it was one of six prime contractors awarded a Traffic Management Infrastructure Systems program contract by the U.S. Department of Transportation's John A. Volpe National Transportation Systems Center. This indefinite delivery, indefinite quantity (IDIQ) contract, awarded during CSC's fiscal 2012 third quarter, has a five-year performance period and a Not-to-Exceed value of $450 million for all six prime contracts.
Edited by Carrie Schmelkin