Computer Sciences Corporation (NYSE:CSC), a global leader in next-generation IT services and solutions, today announced Ohio Mutual Insurance Group will implement Premium Billing 360° (PB360°), CSC’s billing software for property and casualty carriers, life insurance and annuity companies, and health insurers. Ohio Mutual will use the software, which processes all insurance bill types and lines of business across all distribution channels, to expand its business by bringing new offerings to market, enhancing competitiveness and customer intimacy, and accelerating profitable growth. The Bucyrus, Ohio-based insurer currently offers policies covering homes, autos, farms and commercial properties in seven U.S. states through a network of nearly 400 independent agents.
A real-time system available 24×7 via Internet browser or mobile apps, PB360° interfaces with any policy administration solution regardless of platform or industry. It will allow Ohio Mutual to provide multiple billing and payment options that can be deployed in weeks rather than months. The software offers more than one hundred different configuration points, enabling users to add new plans, retire old ones and make other changes without IT involvement, thereby reducing cost. Other system features boost efficiency, simplify reporting and improve agent-commission accuracy.
“We were seeking a modern, enterprise-wide billing solution that could interface with our existing systems to streamline internal processes and lower operating costs,” said Todd Albert, vice president of Information Systems for Ohio Mutual. “PB360° is a function-rich, configurable and scalable solution that will enable us to roll out new billing plans quickly and cost-effectively for all of our product lines and in all of the states in which we do business.”
“A carrier’s most frequent touch point with customers, billing has become a differentiator for insurers and their agents in all lines of business,” said Phil Ratcliff, vice president and general manager for CSC in Insurance. “Developed in collaboration with the nation’s leading insurance companies, PB360° enables carriers to improve customer satisfaction, lower billing transaction costs and improve operational efficiency while embracing growth opportunities in additional states and markets.” (Original Source)
Shares of Computer Sciences closed yesterday at $31.33, down $37.29 or -54.34%. CSC has a 1-year high of $73.29 and a 1-year low of $29.78. The stock’s 50-day moving average is $56.04 and its 200-day moving average is $55.23.
On the ratings front, Computer Sciences has been the subject of a number of recent research reports. In a report released today, Suntrust Robinson Humphrey analyst Frank Atkins downgraded CSC to Hold. Separately, on November 5, Deutsche Bank’s Bryan Keane maintained a Hold rating on the stock .
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Frank Atkins and Bryan Keane have a total average return of -10.2% and 16.2% respectively. Atkins has a success rate of 50.0% and is ranked #2739 out of 3644 analysts, while Keane has a success rate of 79.7% and is ranked #100.
Computer Sciences Corp provides information technology (IT) and professional services and solutions. The Company’s reportable segments are Global Business Services (GBS), Global Infrastructure Services (GIS), and North American Public Sector (NPS).