CSC Signs Licensing Agreement with Symetra Life Insurance Company
News Release -- June 29, 2010
Symetra Licenses CSC’s PerformancePlus, AWD to Improve External, Internal Processes
FALLS CHURCH, Va., June 29 – CSC (NYSE: CSC) today announced it has entered into a multi-year agreement with Symetra Life Insurance Company to license two software products to improve the management of distributor payment and performance tracking and to streamline processes in its annuities business.
Symetra will deploy CSC’s PerformancePlus, a compensation management system, to measure and manage the performance of its national network of distributors. Symetra will also implement AWD, which will eliminate manual tracking systems and paper-based workflows in annuities processing. AWD is a business process management system from DST Technologies, Inc., that CSC offers to the insurance industry. These applications will be integrated with the CSC policy administration systems (CyberLife and VANTAGE-ONE) in use by Symetra.
“As we expand our distributor relationships and product lines, we need technology that drives operational efficiencies and provides additional capacity for growth,” said Troy Olson-Blair, Symetra chief information officer. “This comprehensive agreement allows us to channel our resources toward platform integration and growth in functionality.”
“Financial services industry leaders such as Symetra choose CSC technology to benefit the bottom line by improving their external and internal processes,” said Michael W. Risley, president of the Life and Annuity division of CSC’s Financial Services Group. “Through proven, integrated products like PerformancePlus and AWD, CSC helps our clients better manage increasing workloads to boost overall performance.”
Symetra Life Insurance Company is a subsidiary of Symetra Financial Corporation, a diversified financial services company based in Bellevue, Wash. In business since 1957, Symetra provides employee benefits, annuities and life insurance through a national network of benefit consultants, financial institutions and independent agents and advisors. For more information, visit www.symetra.com.
CSC is a global leader in providing technology-enabled solutions and services through three primary lines of business. These include Business Solutions and Services, the Managed Services Sector and the North American Public Sector. CSC’s advanced capabilities include system design and integration, information technology and business process outsourcing, applications software development, Web and application hosting, mission support and management consulting. The company has been recognized as a leader in the industry, including being named by FORTUNE Magazine as one of the World’s Most Admired Companies for Information Technology Services (2010). Headquartered in Falls Church, Va., CSC has approximately 94,000 employees and reported revenue of $16.1 billion for the 12 months ended April 2, 2010. For more information, visit the company’s website at www.dxc.technology.