Swiss Re has extended its business process outsourcing (BPO) contract with CSC for 10 years.
Under the agreement, CSC will continue to provide administration for Swiss Re’s direct life insurance business through July 2020.
Building on a relationship that began in 1995, CSC supports Swiss Re’s Admin Re business unit in the US. Through its Admin Re programs, Swiss Re provides capital and risk solutions to primary life insurance carriers by acquiring blocks of life insurance business, enabling these primary insurers to release capital and gain access to future profit streams from in-force portfolios.
To strengthen the combined offering, CSC and Swiss Re have jointly outlined new strategies to drive even greater efficiencies in administration, improved customer service and enhanced system alignment across the business.
As part of this initiative, the team will be incorporating new features of CSC’s CyberLife, Customer Service Accelerator and Claims Management Accelerator software to provide additional e-delivery and self-service capabilities and enhancements to claims processing.
Donna Kinnaird, president of Swiss Re Life & Health America, said: “Having worked with CSC for 15 years, we know the team understands our unique strategic goals. Our renewed agreement positions Swiss Re to continue pursuing Admin Re acquisition opportunities and to benefit from CSC’s insurance processing expertise and system capabilities.”