AmeriCredit Renews Business Process Outsourcing Contract With CSC
Leading Auto Finance Company Renews Insurance Tracking Agreement
EL SEGUNDO, Calif., March 15 -- Computer Sciences Corporation today announced that AmeriCredit Corp., a leading independent auto finance company, has renewed its insurance compliance tracking contract with CSC. Through this business process outsourcing (BPO) relationship, AmeriCredit will continue to monitor insurance coverage required for its customers.
CSC's comprehensive insurance tracking services verify that borrowers are insuring their collateral in accordance with lenders' terms and conditions. CSC uses its proprietary software to efficiently and accurately record and match insurance to loans, and its customer service expertise to help strengthen the relationship between lenders and borrowers. The company's broad experience and understanding of insurance tracking enables it to customize insurance tracking services, from design to execution, to fit the characteristics of lenders' portfolios.
A CSC client for six years, AmeriCredit purchases retail installment contracts entered into by auto dealers with consumers who are typically unable to obtain financing from traditional sources.
AmeriCredit's collaboration with CSC has brought a scientific approach to the insurance tracking process. CSC tools include automation to capture important borrower information from phone contacts, determination of the best timing to send letters and a program enabling more contact with borrowers at reduced cost. In addition, a Web site will soon be available that provides loan information to collectors.
"Our ultimate goal in requiring insurance compliance for our customers is to make sure both they and their collateral are protected in the event of an accident," said Cinde Perales, AmeriCredit's executive vice president of Loan Services. "Past experience has shown us that CSC's broad knowledge base benefits AmeriCredit when it comes to providing insurance tracking, information resources for our collectors and reduced cost of lost collateral."
"For more than 25 years, CSC has supported the entire lending supply chain from loan origination to servicing to insurance tracking and collections," said Mike Ura, vice president of BPO Services for CSC's Financial Services Group. "By pooling CSC's experience, technology and customer service expertise with our clients' skills and requirements, we are able to develop creative BPO solutions like insurance compliance tracking that deliver business results."
About AmeriCredit
AmeriCredit Corp. is a leading independent auto finance company. Using its branch network and strategic alliances with auto groups and banks, the Company purchases retail installment contracts entered into by auto dealers with consumers who are typically unable to obtain financing from traditional sources. AmeriCredit has approximately one million customers and $11 billion in managed auto receivables. The Company was founded in 1992 and is headquartered in Fort Worth, Texas. For more information, visit www.americredit.com.
About CSC
Founded in 1959, Computer Sciences Corporation is a leading global information technology (IT) services company. CSC's mission is to provide customers in industry and government with solutions crafted to meet their specific challenges and enable them to profit from the advanced use of technology.
With approximately 79,000 employees supporting continuing operations, CSC provides innovative solutions for customers around the world by applying leading technologies and CSC's own advanced capabilities. These include systems design and integration; IT and business process outsourcing; applications software development; Web and application hosting; and management consulting. Headquartered in El Segundo, Calif., CSC reported revenue of $13.9 billion from continuing operations for the 12 months ended Dec. 31, 2004. For more information, visit the company's Web site at www.csc.com.