StoneRiver's National Flood Services unit buys CSC's Flood BPOPosted On: May. 15, 2013 12:00 AM CST
Oakland, Calif.-based insurance software provider StoneRiver Inc. said its National Flood Services Inc. subsidiary has acquired the flood insurance business process outsourcing unit of Falls Church, Va.-based software and services firm Computer Sciences Corp.
Financial terms of the transaction were not disclosed.
While NFS will assume control of the insurance processing and management platform developed by the CSC unit, known as Flood BPO, NFS said it will continue to support both platforms and existing customers will remain on their existing platforms.
Based in Kalispell, Mont., with Florida service centers in St. Petersburg, Coral Springs and Lakeland, National Flood Services helps property/casualty insurers and governmental entities outsource flood insurance-related tasks.
“The acquisition combines the industry-leading technology and customer service capabilities of NFS with Flood BPO's deep experience in government contracting and commercial BPO services,” StoneRiver said Wednesday in a statement.