Computer Sciences Corporation (NYSE: CSC) today announced that it has signed a 10-year, $20 million business process outsourcing (BPO) contract with Wilton Re to support the privately owned life reinsurance groupâs growth strategy of acquiring large blocks of insurance policies.
Under the agreement, CSC will transition approximately 80,000 policies acquired by Wilton Re to CSCâs insurance BPO operations and provide full back-office administration services, including policy and claims administration, customer service, billing and premium processing, in support of the companyâs policyholders. CSC will also provide the scalable foundation for future Wilton Re acquisitions.
âCSCâs transition experience and operational expertise allow us to be agile and aggressive with our acquisition strategy,â said Enrico Treglia, Wilton Re Services Inc. senior vice president and chief operating officer. âCSCâs BPO services will also provide a predictable cost structure and greater capacity to support future large-scale deals.â
âDuring the past 10 years, weâve helped our clients successfully complete more than 85 large-scale life insurance BPO transitions and transformations,â said Jim Cook, president of CSCâs Financial Services Sector. âOur combination of industry experience, innovative solutions, proven processes and ability to deliver operational results positions Wilton Re for growth.â
CSC, which has offered insurance BPO services for more than 20 years, provides full insurance operational support and processing for more than 5.3 million policies representing more than $3 billion in life and annuity premiums and $2.5 billion in property and casualty premiums. CSCâs BPO services support more than 100 financial services organizations worldwide from multiple BPO centers on four continents, providing a broad array of technical capabilities and managing outsourced processes at mutually agreed and measured service levels.