Computer Sciences Corporation (NYSE: CSC) has signed a five-year, $80 million information technology (IT) outsourcing agreement with Tryg, the largest insurance company in Denmark. CSC will provide mainframe, midrange, desktop, web hosting, print and distributed computing infrastructure services, as well as Tryg’s help-desk and network infrastructure functions. Additionally, CSC will implement a mainframe disaster recovery solution for Tryg. “Through this agreement with CSC, we will implement improvements in quality, accessibility, stability and speed in our IT systems,” says Tryg Managing Director Peter Falkenham. “At the same time, we will reduce the operational costs, which will influence our expense ratio favorably. This will help us run an even more profitable business to the benefit of our customers.”
Tryg’s current IT supplier, Nordea-IT, is the IT organization of Tryg’s former owner, Nordea. Seven IT staff from Tryg and 70 from Nordea-IT are expected to join CSC on December 1, 2003.
Tryg’s and Nordea’s existing business partnership, under which Tryg markets Nordea’s pension products and Nordea markets insurance services on behalf of Tryg, will continue unchanged.
“Tryg’s selection of CSC underscores our strength within IT outsourcing and technology management in the financial services sector,” concludes George Bell, president of CSC’s European operations. “Application of our world-class IT expertise and experience will result in significant ongoing service and quality improvements for Tryg. We look forward to building upon our relationship with Tryg and the Tryg Vesta Group in the future.”
Tryg employs 2,300 and markets insurances through its own distribution channels as well as via Nordea’s branches – like Tryg markets Nordea’s pension products. Tryg is part of Scandinavia’s second largest insurance group, the Tryg Vesta Group.