CSC Adds New Product Configurability Component

CSC introduces a new policy management software component, Policy Accelerator, for top- and mid-tier North American insurers seeking a best-of-breed approach to modernizing their p&c insurance processing.

Derived from CSC's Point In system, Policy Accelerator supports all North American jurisdictions and all lines of business, including personal, commercial, workers' compensation, niche, and specialty lines. Architected to support growth and customer retention, it simplifies software maintenance and enhancements, improves efficiency and new product speed to market, and lowers total cost of ownership.

“Business changes are forcing North American p&c insurers to adopt new processes, offer new functionality, and process transactions at a faster pace that is not supported in current-day systems,” says Jeff Haner, principal analyst at Gartner, in his report: MarketScope for North American Property and Casualty Insurance Policy Management Modules. “As they face these industry trends and internal pressures, many North American P&C insurers have reached a tipping point, where policy administration system replacement is crucial to survival and competitive positioning.”

Policy Accelerator facilitates modernization initiatives as a replacement and consolidation component. It integrates with insurers' existing systems or can be implemented together with other CSC billing, claims, and agent portal software. Coded entirely in Java with a service-oriented architecture based on insurance industry standards, Policy Accelerator is fully configurable without the need for source code modification and can scale to handle large transaction volumes and administration of large-risk and high-premium policies. It can be deployed on-premises or with CSC hosting and providing business process services.  

“CSC recognizes that speed and efficiency are critical to the P&C industry, and we are committed to delivering modern solutions to improve business agility,” says Jeffery Schwalk, president of CSC's Property and Casualty Insurance Division. “By collaborating with our extensive client community, CSC has developed many new functions using next-generation technology, which have now been incorporated into Policy Accelerator.”

The software is platform- and database-agnostic backed by global transformation capabilities that can help move clients through a phased modernization, which includes shaping, transforming and managing their application portfolios. For more information, visit www.csc.com/policyaccelerator.