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today announced that Sompo Japan Insurance Inc. completed its implementation of SICS, CSC's integrated reinsurance software solution that manages complex reinsurance business of all types - assumed and ceded - for both property and casualty/general insurance and life insurance clients. The new system enables Sompo Japan to streamline its overseas reinsurance operation by enhancing its system support structure, improving business productivity and data quality, and strengthening its operational control framework. These enhancements support the company's goal to better access information and manage risk and, therefore, maximize profits.
With more than 90 implementations worldwide, SICS supports the entire life cycle of reinsurance business with its single database and consolidated application environment. It offers comprehensive support for underwriting, claims handling, accounting, management/financial reporting and policy administration of direct/retrocession business.
"The success of this implementation can be attributed to the advantages of SICS, CSC's high-quality packaged software, as well as to the strong relationship between our companies," said Masato Fujikura, general manager of the Reinsurance Department of Sompo Japan. "We would like to express our appreciation to CSC's project team and look forward to the team's continued support."
"This project is the result of close collaboration between CSC's local employees, our global reinsurance team and Sompo Japan, one of the market leaders in Japan," said Michael Strzepek, general manager of CSC's operations in Japan. "It represents the first SICS implementation in Japan and expands CSC's presence in the region. We will continue to support the business expansion of Sompo Japan through continued effective integration and use of local and global capabilities."
About Sompo Japan
Sompo Japan was founded in 2002, by a merger of 4 companies: Yasuda Fire and Marine Insurance Co., Ltd., which commenced operations in 1888 as Japan's first fire insurance company; Nissan Fire & Marine Insurance Co., Ltd., which was established in 1911 as the First Japanese company specializing in personal accident insurance; Taisei Fire & Marine Insurance Co., Ltd., which was originally founded in Taiwan in 1920, and Dai-ichi Property and Casualty Insurance Co., Ltd., founded in 1996.
With more than 17,000 employees, Sompo Japan has established overseas subsidiaries and direct insurance agencies in Europe, North America, Central and South America, China, Southeast Asia and Oceania, maintaining its sales structure to offer services in all main regions of the globe. Its consolidated net premium income for the fiscal year ended March 31, 2009 was 1380.1 billion yen. For more information, please visithttp://www.sompo-japan.co.jp/.
About CSC
CSC is a global leader in providing technology-enabled solutions and services through three primary lines of business. These include Business Solutions and Services, the Managed Services Sector and the North American Public Sector. CSC's advanced capabilities include systems design and integration, information technology and business process outsourcing, applications software development, Web and application hosting, mission support and management consulting. Headquartered in Falls Church, Va., CSC has approximately 92,000 employees and reported revenue of $16.2 billion for the 12 months ended July 3, 2009. For more information, visit the company's Web site at www.csc.com.