Insurance and Banking Application Offerings to Share Common Architecture
ACORD Conference, ORLANDO, Fla., May 21, 2001 – Computer
Sciences Corporation (NYSE: CSC), provider of the world’s largest inventory of financial
services application software, today announced that it is implementing a new, common
architectural strategy for its insurance and banking applications. In the coming months,
these product offerings will be enhanced for use in an e-enabled, service-oriented
architecture, allowing rapid adoption of emerging technologies.
The new architecture will allow banking and insurance
clients to leverage their investments in CSC’s enterprise applications, including those
assumed through CSC’s acquisition of Mynd Corporation.
“Our clients tell us our administrative engines
continue to serve as the foundation for their business operations, but the way they want
to access the data and functionality is changing,” said Ray August, executive vice
president of Property & Casualty Solutions for CSC’s Financial Services Group.
“In an environment of industry consolidation and convergence, financial services
firms need to unify many heterogeneous systems. Companies are still very dependent upon
highly complex processing contained in mission-critical applications of varying ages,
origins and technical characteristics. By transitioning to an integrated, service-oriented
architecture, many of those differences become irrelevant. Our customers will have the
freedom to determine when and how they leverage the business value of their CSC applications.”
To implement this new strategy, the business functions of
CSC’s financial services software will be redefined using ACORD-based XML data structures.
They will employ open standards, HTTP-based protocols, and leading eAI middleware to
manage the communication between all major parties involved in financial services
transactions, both inside and outside the enterprise. As a result, companies will be able
to achieve enterprisewide business process management. Consumers, distributors and other
users will have access to key business functions across all channels and devices.
CSC’s software applications are well-positioned to operate
in a decentralized, distributed environment using ACORD XML interfaces. The company’s
Web-based insurance platforms, ViLink and iSolutions, have been recognized for early
adoption of ACORD’s XML standards. The two applications won the ACORD 2000 Early Adopter
Award and are expected to receive the 2001 ACORD XML Implementation Champions Award at
ACORD’s annual conference in Orlando this week. In addition, much of the core
functionality of CSC’s line of business applications is already accessible through open
Java- and COM-based interfaces.
“System conversions and elimination are not always
practical in life insurance,” said Paul DeFuria, executive vice president of Life and
Annuity Solutions for CSC’s Financial Services Group. “For most life insurers, the
number of enterprise administration systems in production continues to grow, due to
industry consolidation and the evolution of insurance products over the years. With an
e-enabled, service-oriented architecture, CSC will be able to implement new common
functions across multiple enterprise systems faster and with less complexity. For example,
we can help our clients integrate customer-facing operations such as Web support and call
centers with all systems in a much more stable and durable way.”
CSC’s common architectural model will be extended across
its product portfolio including the company’s flagship administrative engines for life
insurance and annuities, VANTAGE ONE, CyberLife, FutureFirst and PolicyLink; property and
casualty insurance, S3+, COGEN and POINT; and banking, the Hogan Suite. In addition, CSC
clients across lines of business will be able to access
other time-saving applications such as AWD, an enterprise workflow engine; VP/MS, a rapid
product builder and calculation engine; JETS, an automated data trading tool; and
PerformancePlus, a distributor compensation support environment.
“Our common architectural blueprint will unify
mission-critical systems across the financial services industry,” said David Blanton,
executive vice president of Banking Solutions for CSC’s Financial Services Group. “At
a time when both banks and insurance companies face pressure to respond to rapidly
changing technologies and consumer demands, our applications will allow companies to
rapidly roll out new business functions by re-using existing, proven and reliable components.”
The processes, tools and techniques CSC employs in its own
product development are also available to adapt non-CSC systems for the new
service-oriented architecture. CSC’s Enterprise Application Integration (eAI) consulting
practice helps clients craft business-specific, end-to-end solutions. CSC has a track
record of successfully delivering complex customer relationship management (CRM),
e-business, and workflow-enabled solutions, using CSC and best-of-breed third-party products.
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. With nearly 68,000 employees in locations
worldwide, CSC had revenues of $10.5 billion for the 12 months ended March 30, 2001. It is
headquartered in El Segundo, California. For more information, visit the company’s Web
site at www.csc.com.
Vice President, Marketing
Financial Services Group
Media Relations Corporate