CSC Offers Global Conversion Service for Life, Annuity and Pension Carriers

CSC has launched ConversionEdge a packaged global service for the consolidation or transition of life, annuity and pensions policy administration systems. The platform enables rapid conversion in support of acquisitions and organic growth, improved customer services and business process reengineering, the vendor claims.

Through use of CSC's established conversion tools, expertise and methodologies, ConversionEdge provides access to multi-disciplinary teams experienced in all aspects of systems conversion activities, the vendor asserts in a press release announcing ConversionEdge. CSC conversion centers in the United States, South Africa and India use a common repository, including a knowledge portal, proprietary software tools and training plans. The offering includes full-service conversion support from virtually any source system to any life insurance, annuity or pensions policy administration system, CSC claims. The vendor vaunts a record of having completed more than 150 conversions of varying size and complexity, totaling more than 20 million policies transitioned to CSC policy administration platforms since 2000.

"As the life and annuities industry faces decreased demand as well as reduced investment income, some insurers are using the downturn as an opportunity to effect change," says Chad Hersh, insurance principal, Novarica. "Updating and consolidating core systems can position carriers to be prepared for the recovery and for future opportunities, while reducing costs in the medium term and beyond."

Anthony O'Donnell has covered technology in the insurance industry since 2000, when he joined the editorial staff of Insurance & Technology. As an editor and reporter for I&T and the InformationWeek Financial Services of TechWeb he has written on all areas of information ... View Full Bio