Computer Sciences Corporation (CSC) recently came up with a new product targeted at insurance companies. The new insurance business process from CSC helps speed up the payments of death benefits and is useful to locate beneficiaries for death claims.
This solution from CSC identifies the potential claims by searching the Social Security Death Master File (DMF) and other such databases. The validation process also includes the insured’s identity and policy coverage, executes the settlement of claims and searches for beneficiaries and claim payment recommendations and also helps in generating all search details.
This insurance business process offers tools required at the professional level, enhancing the quality of service in a cost-effective manner. Moreover, CSC’s team of claim examiners has the ability to execute the entire cycle of search and settlement of claims, or any portion thereof, depending on the insurer’s needs, and evaluated on the basis of the transaction.
Although CSC is taking necessary steps to come up with innovative solutions to improve its business volume and enhance its customer base, finding the right customers for the solution becomes difficult, as the insurance sector is in the doldrums.
While restructuring, cost-saving and new contract wins are some of the ways in which the company is trying to increase its business volume, the delay in new order renewals from the government vertical and deterioration in European economic activity are some of the factors that concern us.
Intense competition in the IT and cloud-computing space from both small and big players such as Accenture plc. (ACN) and Hewlett-Packard Company (HPQ), CSC’s large European exposure, strained federal budgets and delayed approval of government contracts are other factors weighing on the stock in the short term.
Currently, CSC holds a Zacks #5 Rank (implying a short-term Strong-Sell rating).
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