CSC Financial Services has received the XCelent Service 2011 and XCelent Customer base 2011 awards for life insurance policy administration from Celent.
Celent, a research and consulting firm awarded CSC, a software, consulting and IT business the award based on the performance of its CyberLife system. CyberLife, a web enabled system that supports a spectrum of life and annuity products and features offers administration and functionality from fostering new business through the claim processing. CyberLife also includes product definition, new business underwriting, billing and collection as well as distribution management.
The awards were given after an assessment was made in the form of a report by Celent on the efficiency of CyberLife. “Selecting a new policy administration system if a difficult and time-consuming process, and one that a carrier will hopefully only need to endure once a decade at most. Celent recommends that life insurers define rank and priorities around four major decision elements: functionality, technology, experience and momentum. There is value and safety in working with a vendor that offers functionality...” said Craig Weber, Celent Chief Executive Officer.