The U.S.
The NFIP offers property owners in participating communities an insurance alternative to disaster assistance to address the escalating costs of repairing damage to buildings and their contents caused by flood. As the DSA, CSC provides full flood insurance business process services on behalf of FEMA to insurance agents, policyholders, lenders and other stakeholders, using
FloodConnect is a hosted application that uses workflow management to improve operational efficiency, simplify the rollout of new enhancements and streamline business processes. The components of the software, including claims and accounting, are designed to be reusable and are completely integrated. FloodConnect allows for real-time, online access to policy information and reports.
As part of this contract, CSC will also use its Vendor Solutions Suite software to enhance the DSA's ability to track and efficiently manage claim-related activities. Using the software, CSC can assign claim work items to an adjusting company or directly to one of its individual adjusters. The software is designed to track completion of tasks, manage and records associated communications and rate the adjuster on the assignment. Another new addition to the DSA program includes a CSC first-notice-of-loss mobile application, which permits claims to be submitted directly from the field to an insurer via a smartphone.
As the incumbent contractor, CSC has managed the NFIP Direct Servicing Agent contract since 2004. Under the program in 2010, CSC serviced more than $193 million in net premiums written and ended the year with $542 billion in insurance in force.
"We are committed to providing vital services on behalf of the U.S. government in support of public-private programs, such as flood insurance, that are important for the protection and wellbeing of Americans," says Jeffery Schwalk, president of CSC's Property and Casualty Insurance Division. "In order to efficiently and cost-effectively support the flood industry, we use sophisticated, Web-based technology specifically designed for the flood program, including new tools and technology designed to improve claims handling, such as Vendor Solutions Suite and our new mobile app for first notice of loss."
CSC provides a wide array of services to the flood insurance industry, from offering FloodConnect as a hosted application to complete insurance BPO services, including application capture, rating and quoting, policy issuance and management, billing and claims administration. FloodConnect also facilitates supporting services such as records management, quality assurance, training and customer service. As of the close of March 2011, CSC's flood business process outsourcing team now manages more than $1 billion in flood insurance premiums, which represents approximately 30% of the available flood market. CSC's flood clients include eight write-your-own carriers, including three of the top 10 insurance carriers writing flood.
