EL SEGUNDO, Calif., May 18, 2005 — Computer Sciences Corporation (NYSE: CSC) today announced that five leaders in the life insurance industry have joined CSC’s Next-Generation Automated Underwriting Platform Strategic Technology Program (STP). Through the program, CSC will develop a new automated underwriting software component based on Swiss Re’s Life Underwriting System (LUS).
This new version of LUS, which will continue to use the system’s widely accepted underwriting rules knowledge base, will become an optional component of CSC’s nbAccelerator (nbA) risk assessment and process management software for new insurance business. Through the STP, CSC will modernize LUS, enabling seamless integration with standards-based life insurance systems and simplified maintenance.
Initial STP sponsors include: AEGON USA Inc. (NYSE: AEG); American National Insurance Company (Nasdaq: ANAT); Foresters, a Toronto-based financial services organization that operates in the U.S., Canada and the United Kingdom; Sammons Financial Group; and one of the top five publicly held personal lines insurers in the U.S. The program is open to other LUS users.
“As a long-time LUS user, I’m encouraged to see the system on a pathway to modernization,” said Frank LaRusso, senior vice president of Transamerica/AEGON USA Inc. “This program will allow us to continue to realize the benefits of automated underwriting with a product that can easily adapt to our changing needs.”
“This effort breathes new life into LUS, giving insurers a way to protect their existing investment while strengthening their core underwriting processes,” said Michael W. Risley, president of the Life and Annuities division of CSC’s Financial Services Group. “Once again, CSC’s experience in insurance industry systems and processes is helping position companies to achieve market-leading business results.”
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 79,000 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 $13.9 billion from continuing operations for the 12 months ended Dec. 31, 2004. For more information, visit the company’s Web site at www.csc.com.