UK - Software house Computer Sciences Corporation has strenuously denied rumours that it is planning to pull out of the pensions and insurance sectors.
The widespread rumour – which CSC believes was started by a competitor – has prompted several analysts to seek clarity over the firm’s long-term business intentions.
At the end of last year the software provider was also quizzed by two prominent employee benefit consultants.
But CSC director of life and pensions solutions Patrick Molineux told PP the rumour was “slanderous rubbish” and said the company would consider legal action against any perpetrators.
He added: “We were incensed to learn the allegations came from a competitor and will be taking it through the courts if we get testimonies. We have no intention of scaling back after signing 25 contracts last year. Let’s hope this does not signal the insurance software market turning ugly.”
Last week CSC launched version four of GraphTalk AIA – a software solution administering individual life and pensions products including unit-linked savings, employee benefits and health.
CSC head of Europe, the Middle East and Africa group Eric Boileve said:
“Our continuing investment in GraphTalk AIA demonstrates our commitment to the industry. It also signifies its importance in making a real bottom-line difference to the life, pensions and health industry during the toughest time in its history.”
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