IT Solutions And CSC Form Alliance
NU Online News Service, June 8, 3:02 p.m. EDT?Two information technology services firms, Innovative IT Solutions Inc. and Computer Sciences Corp., announced they have formed an alliance to provide systems to insurers. No financial details were released.[@@]
The firms said the combine will offer Innovative IT's SIRCON.db producer licensing and compliance management database and CSC's PerformancePlus distribution and compensation management system.
IT Solutions is based in Okemos, Mich., and CSC in El Segundo, Calif.
SIRCON.db and its Internet-based companion, SIRCON, allow insurance companies and broker-dealers to use an event-driven system to synchronize data between the organizations, and with their business partners and state regulatory agencies, the allied firms said.
The companies said that SIRCON is the only system on the market that can conduct business with state regulatory agencies in real time over the Internet.
SIRCON.db's integration with CSC's PerformancePlus, the companies said, will give insurers an enterprise-wide solution to maintain and process vital compliance, licensing and contract information for all producer firms and individuals.
PerformancePlus, a Web-enabled system designed to integrate with complex environments, including multiple administrative systems and distribution channels, enables companies to improve producer service and retention, reduce total distribution management costs, and align producer behavior with corporate goals, an announcement of the alliance said.
Michael W. Risley, president of the Life and Health Division of CSC's Financial Services Group said, "Insurance companies need the best tools to keep them in compliance with state regulations for insurance licensing. The combination of PerformancePlus and SIRCON.db helps companies assure compliance, while substantially reducing the time and cost associated with licensing and appointment processing."
Bob Granger, Innovative IT's vice president of sales, said his company is "excited about our new relationship with CSC. Integrating SIRCON.db's strong license and appointment capabilities with PerformancePlus' advanced distribution and compensation management capabilities will create unique business efficiencies for our common clients."
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