CSC has announced that a U.S. life insurance company ranked in the top 20 by A.M. Best, according to assets and net premiums written, has licensed CSC’s nbAccelerator to manage its new insurance business. This license marks the fourth nbAccelerator contract signed by CSC over the past nine months.

nbAccelerator is a complete new business risk assessment and process management system that enables straight-through processing to speed underwriting and issuing new life insurance and annuity contracts.

“In a competitive and uncertain life insurance market, anything that can mitigate the time and cost of issuing a policy but maintain the appropriate level of risk will provide an advantage for insurers,” said Karen Monks, analyst with Celent’s Insurance Group. “Insurers are looking at new business and automated underwriting systems to help address growth, fulfill service and distribution mandates, and reduce the cost per policy issued.”

“Quick response times are critical to closing new life insurance sales, and profitable new business is essential to achieving carriers’ growth objectives,” said Michael W. Risley, president of CSC’s Life Insurance and Annuity Division. “nbAccelerator positions life insurance and annuity companies to close new business faster by automating repetitive steps and integrating work management, sales and service activities. Intelligent e-App ensures the right information is captured at the point of sale by guiding producers through the data-gathering process.”