CSC walks off with North American outsourcing crown

Based on contracts held, US technology services company Computer
Science Corporation (CSC) emerged as the leader in the North
American life, pensions and annuities business process outsourcing
(BPO) market in a survey by research firm Celent.

CSC was also named as the leading BPO provider for policy
administration in the North American general insurance market.

Celent’s research was based on data collected on 278 BPO
contracts representing an estimated $1.4 billion in annual revenue
in a market generating annual revenue of about $1.9 billion. Celent
also cited CSC as a leader in terms of estimated BPO revenue and
full-time insurance BPO employees. CSC’s BPO services include
policy administration, general systems, call centre, billing,
underwriting, support functions and distribution.

Mike Fitzgerald, an analyst in Celent’s insurance practice,
said: “Recent economic events have once more brought cost
containment to the top of the insurer agenda. With potential cost
savings of up to 50 percent through BPO, as cited by respondents to
our survey, we expect more insurers to outsource more processes,
growing to reach an estimated $4.1 billion [revenue] in 2013 from
$1.9 billion today.”

CSC, which has over 20 years’ experience in the insurance BPO
market, provides operational support and processing for over 6.5
million policies representing some $3 billion in life and annuity
premiums and $3.25 billion in non-life premiums. CSC also has 35
banking BPO clients representing $2.7 billion in premiums, 1.3
million loans and 4.5 million policies and contracts.