The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

News Sources

Take control of your investments with the latest investing news and analysis

Press release from Business Wire

CSC Extends Managed Services Contract with Safety Insurance Group

<p class='bwalignc'> <i>Java Version of CSC's Exceed Billing Software to Lower Total Cost of Ownership</i> </p>

Wednesday, May 23, 2012

CSC Extends Managed Services Contract with Safety Insurance Group08:30 EDT Wednesday, May 23, 2012 FALLS CHURCH, Va. (Business Wire) -- CSC (NYSE: CSC) today announced Safety Insurance Group, a Boston-based property and casualty insurer, has extended its managed services agreement with CSC to 2021. Under the new agreement, signed during the fourth quarter of CSC's fiscal year 2012, CSC will continue to provide applications and infrastructure services to run the carrier's operations. In addition, CSC will upgrade Safety's existing Exceed Billing system to the latest Java version and will work with the insurer to move all lines of business onto the new Java platform, which will deliver the same high-volume, high-function capabilities at a significantly lower total cost of ownership. Exceed Billing is CSC's scalable, real-time billing software for all bill types and lines of business. A client since 1997, Safety will retain its secure, stable and flexible systems environment through additional CSC-hosted software: Agency Link, a real-time Web portal for agents, and Insurance Optics Business Analytics, a reporting and data analysis tool that leverages SAP® BusinessObjects™ technology. CSC will also continue to provide infrastructure services for policy administration, allowing Safety to uphold high standards for policy processing and focus on strategies for growth. “With CSC as our primary IT services provider, Safety has doubled the size of our homeowner business, customized billing processes and streamlined claims management, while reallocating resources to focus on product development, testing, pricing and business development,” said James D. Berry, CPCU, vice president of Insurance Operations at Safety. “As a customer-centric business, Safety appreciates the scale, scope, reliability and experience CSC provides, as well as the configurability of its applications.” “CSC's objective is to help companies like Safety create self-service models, offering added value to its agents and policyholders,” said Jeffery Schwalk, president of CSC's Property and Casualty Insurance Division. “Insurers of all sizes benefit from our outsourcing expertise, as well as our dual focus on technology advancements and industry best practices, which enable variable cost structures, accelerate speed to market and support growth.” For more information on CSC's property and casualty insurance services, visit About Safety Insurance Group Safety Insurance Group, Inc. is the parent of Safety Insurance Company, Safety Indemnity Insurance Company, and Safety Property and Casualty Insurance Company, which are Boston, MA, based writers of property and casualty insurance. Safety is a leading writer of personal automobile, homeowners and commercial insurance in Massachusetts and New Hampshire. For more information, visit About CSC in Financial Services More than 1,200 major banking, insurance, investment and wealth management, and securities firms rely on CSC's global financial services team to turn their ambitions into realities. With a track record for delivering software, consulting, and IT and business process outsourcing and services at scale, CSC brings a deep understanding of the financial services business and a collaborative culture to one of the industry's most engaged client communities. For more information, visit About CSC CSC is a global leader in providing technology-enabled business solutions and services. Headquartered in Falls Church, Va., CSC has approximately 98,000 employees and reported revenue of $15.9 billion for the 12 months ended March 30, 2012. For more information, visit the company's website at SAP and all SAP logos are trademarks or registered trademarks of SAP AG in Germany and in several other countries. Business Objects, BusinessObjects and the Business Objects logo are trademarks or registered trademarks of Business Objects in the United States and/or other countries. Business Objects is an SAP company. All other product and service names mentioned are the trademarks of their respective companies. Click here to subscribe to Mobile Alerts for CSC. CSCMarian KelleyDirector, Media and Analyst RelationsFinancial Services Group512-275-5722mkelley3@csc.comorChris GrandisMedia Relations