Computer Sciences Corporation(CSC), a provider of IT services, has said that one of the major US life insurance company has licensed CSC's nbAccelerator solution to manage its insurance business.
According to the CSC, the nbAccelerator is a complete new business risk assessment and process management system that enables straight-through processing to speed up underwriting and in issuing new life insurance and annuity contracts, with enhanced agent productivity.
The insurance carrier also licensed CSC’s Intelligent e-App, an internet-based software that will guide producers through the application data-gathering process and populates all forms, ensuring accuracy and completeness. The application will be electronically submitted, avoiding duplicate entry.
CSC said both the systems will be used with its product development software Product Accelerator, which allows non-technical users to configure both calculations and product definitions.
CSC Life Insurance and Annuity division president Michael Risley said nbAccelerator positions life insurance and annuity companies to close new business faster by automating repetitive steps and integrating work management, sales and service activities.
"Intelligent e-App ensures the right information is captured at the point of sale by guiding producers through the data-gathering process," Risley said.