Falls Church, Va.-based CSC said its life insurance business processing outsourcing (BPO) service ranks highest in the industry on the LOMA performance benchmark for service turnaround times.

LOMA, an international association for the insurance and financial services industry, performed the study through its 2008 Life Insurance Service Turnaround Times Survey. This is the fourth year that CSC’s service levels have surpassed the industry averages to lead the field.

To conduct the CSC benchmark and analyze the company’s service level performance rankings, LOMA mapped CSC’s BPO service categories to the metrics of 39 leading life insurers. In the policyowner service functions section, CSC’s performance exceeded industry averages in all but two of the 18 categories studied, according to the company.

For example, the average time it takes CSC to research policyowner correspondence and resolve any problems is three days, compared to the industry average of 6.3 days. To process beneficiary changes, CSC takes an average of one day, while the others average 4.8 days. In addition, to process and mail a claim in a contestable situation, the CSC turnaround is four days after all research is completed. The industry average is 18.9, the company said.