EL SEGUNDO, Calif., Dec. 21 – Computer Sciences Corporation (NYSE: CSC), a leading global information technology (IT) services company, announced today that the reinsurance division of Farmers Mutual Hail Insurance Company of Iowa (FMH) has successfully replaced its legacy reinsurance system with CSC’s SICS/nt.
More than 45 percent of the world’s reinsurance industry uses SICS/nt, CSC's international insurance and reinsurance solution. SICS/nt supports complex reinsurance strategies and is available for property and casualty, life and primary insurance for complex property risks. The solution’s product suite manages administration functions including underwriting, cession, claims handling, treaty administration, accounting and retention management on one global platform.
“We needed to replace our existing system, which we had been using since 1997, because support for that system was going to cease,” said Candy Crooks, FMH treaty underwriter. “We chose SICS/nt after researching several different systems. We were impressed with SICS/nt’s Windows-based functionality, its information storage capacity and its rich reporting tools, which are increasingly vital today.”
“This implementation project had some very tight deadlines and we are delighted that the SICS/nt delivery was on target,” said Steve Clark, head of CSC’s Reinsurance division. “This is a testament to CSC’s ability to leverage our global strengths and best practices to deliver business and operational results to international insurers and reinsurers worldwide.”
About Farmers Mutual HailFarmers Mutual Hail Insurance Company of Iowa (FMH) was founded by W.A. Rutledge in 1893. FMH was originally formed to write crop hail insurance and became America’s largest crop hail insurance provider. They currently write crop hail in 15 Midwest states. In 1948, FMH formed their reinsurance operation. They assume reinsurance worldwide. They expanded their crop writings in 1998 with the addition of the Multi-Peril Crop Insurance operation. FMH holds an A rating from A. M. Best.
About CSC in Financial ServicesCSC distinguishes itself through its time-tested ability to plan, build and operate highly reliable, efficient and secure business and IT solutions for leading financial services firms around the world. To complement its capabilities in consulting, systems integration and outsourcing, CSC brings financial services industry knowledge and experience, a comprehensive portfolio of financial services application software, and an extensive network of industry and technology partners. CSC’s financial clients include more than 1,200 major banks, insurers, and investment management and securities firms.
About CSCFounded in 1959, Computer Sciences Corporation is a leading global IT services company. CSC's mission is to provide customers in industry and government with solutions crafted to meet their specific challenges and enable them to profit from the advanced use of technology.
With approximately 91,000 employees, CSC provides innovative solutions for customers around the world by applying leading technologies and CSC's own advanced capabilities. These include systems design and integration; IT and business process outsourcing; applications software development; Web and application hosting; and management consulting. Headquartered in El Segundo, Calif., CSC reported revenue of $15.3 billion for the 12 months ended Oct. 1, 2004. For more information, visit the company's Web site at
www.csc.com.