Calculation and Business Rules Engine to Speed Product Development and Lower Systems Costs
EL SEGUNDO, Calif., March 25, 2004 — Computer Sciences Corporation (NYSE: CSC) today announced that four leading insurers have licensed its calculation and business rules modeling system, Visual Product/Modeling System (VP/MS). Jefferson Pilot Financial, Manulife USA, Ohio National Financial Services and an insurance company that ranks among the top five stock life and health insurers in the U.S. have selected CSC’s software to speed the design and development of new insurance products.
VP/MS simplifies the creation and transfer of calculations, business rules and product definitions that users need to share across multiple systems and platforms, including the Internet. All four insurers, which also use CSC’s VANTAGE-ONE policy administration system, will use VP/MS to augment VANTAGE-ONE’s capabilities as they introduce new products to market.
“The integration of VP/MS and VANTAGE-ONE will give Jefferson Pilot greater flexibility and speed in product development,” said Marvin Maynard, senior vice president and chief technology officer at Jefferson Pilot. “That directly translates into lower systems development and maintenance costs and faster time to market.”
“Insurers continue to look to CSC for ways to transform their businesses while extending the life of their current systems,” said Michael W. Risley, president of the Life and Health Division of CSC’s Financial Services Group. “VP/MS, which has become the leading insurance calculation and business rules tool in the U.S., meets that challenge.”
Founded in 1959, Computer Sciences Corporation is a leading global information technology (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 90,000 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 $13.8 billion for the 12 months ended Jan. 2, 2004. For more information, visit the company’s Web site at www.csc.com.