Company to Support and Market Magnum, LUS and e-Nable Offerings
EL SEGUNDO, Calif., Feb. 27, 2003 — Computer Sciences Corporation announced today that it has signed separate agreements with Swiss Re Life & Health America Inc. and e-Nable Corporation that will add advanced automatic underwriting systems and services to CSC’s nbAccelerator life insurance new business offering.
CSC has assumed development, maintenance and North American sales responsibility for Swiss Re’s two major underwriting support systems, Magnum and LUS, and will also incorporate their capabilities into nbAccelerator. Swiss Re will continue to provide an up-to-date risk assessment and underwriting knowledge base for its systems.
“CSC’s technology and expertise in new business processing will allow us to focus on Swiss Re’s core competencies — reinsurance, risk assessment and underwriting — instead of the development and support of systems for use by third parties,” said Chris Stroup, chief executive officer of Swiss Re Life & Health America Inc. “Separately, the Magnum and LUS systems are based on the most advanced underwriting techniques available. Soon they will combine into one comprehensive and powerful solution, CSC’s nbAccelerator.”
CSC has also agreed to provide technology, infrastructure and support to e-Nable Corporation. CSC’s nbAccelerator will be the technology framework for e-Nable’s life insurance services, which include real-time, one-stop access to
data sources for the underwriting process.
“Accomplishing e-Nable’s business mission requires a level of technological sophistication that was beyond our capabilities,” said Teresa L. Pahl, e-Nable’s president and chief executive officer. “By teaming with CSC, e-Nable has the product development and infrastructure expertise of a global
“nbAccelerator is one of CSC’s newest and most promising offerings,” said Michael Risley, president of the Life and Health division of CSC’s Financial Services Group. “With improved underwriting capabilities from Swiss Re and real-time services provided by e-Nable, CSC will substantially reduce life
insurance industry underwriting costs and service times.”
About Swiss Re
Swiss Re is one of the world’s leading reinsurers with over 70 offices in more than 30 countries. For 2001, Swiss Re reported a net loss of CHF 165 million, largely due to the 11 September event. Gross premiums in 2001 were CHF 28.5 billion. At the end of June 2002, Swiss Re’s shareholders’ equity amounted to CHF 18.3 billion and the total balance sheet stood at CHF 168 billion. Swiss Re is rated “AA+” by Standard & Poor’s, “Aa1” by Moody’s and “A++” by A.M. Best.
About e-Nable Corporation
Founded by MIB Group, Inc. in 1999, e-Nable Corporation provides real-time, comprehensive technology solutions that streamline the collection and assessment of data used to underwrite applications for life insurance. e-Nable’s technology is fully compliant with the ACORD XML for Life Insurance standards. For more information visit e-Nable’s Web site at www.e-nable.com.
Founded in 1959, Computer Sciences Corporation is one of the world’s leading information technology (IT) services companies. 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 nearly 64,000 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 $11.3 billion for the 12 months ended Dec. 27,
2002. For more information, visit the company’s Web site at www.csc.com.