John Hancock Financial Services, a unit of Manulife Financial Corp., has signed a six-year extension to its information technology outsourcing (ITO) agreement with CSC. Under the agreement, valued at $25 million and awarded during the first quarter of fiscal year 2012, CSC will continue to provide applications and infrastructure services for the carrier's U.S. Wealth Management Division, in support of the administration of more than 1 million fixed and variable annuity policies.
A significant change in the newly negotiated agreement is that CSC will manage the transition from the current mainframe environment, to a new z Linux platform, CSC says. The z Linux platform will lower costs through enhanced operational and energy efficiency; improve service with a simplified and integrated environment; and augment risk management with strengthened resiliency and security features.
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