CSC (NYSE: CSC) has finalized a deal with Ohio National Financial Services of Cincinnati, Ohio on a 10-year contract to license and support two comprehensive insurance software offerings.
Ohio National will use CSC’s Wealth Management Accelerator for life insurance policy, annuity administration and potentially for administration of other lines of business such as disability income. Ohio National will use CSC’s Insurance Optics Business Analytics to access and analyze commission and policy information.
With Wealth Management Accelerator, insurers like Ohio National can rapidly introduce “innovative” wealth management features in a single contract and then administer the policies with one system.
“Ohio National has experienced great success maintaining their A+ rating throughout the financial crisis, ” said Michael W. Risley, president of CSC’s Life Insurance and Annuity Division. “CSC provides modern, highly integrated solutions to help this growing company and others meet current and emerging business needs in administering an increasingly diverse product line and in managing business intelligence across the enterprise.”
