TORONTO, Dec. 2, 2003 — SOLCORP, a leading provider of software solutions to the life insurance and financial industries and a subsidiary of EDS (NYSE: EDS), announced today that The Great-West Life Assurance Company has entered into a license agreement to extend the INGENIUM license originally acquired by its subsidiary, The Canada Life Assurance Company. The agreement extends the current INGENIUM license to cover Great-West and its subsidiaries, Canada Life and London Life Insurance Company. Together with the extended software licensing, Great-West also signed a Gold Software Support Program agreement with SOLCORP.
Following its acquisition of Canada Life earlier this year, Great-West recognized that INGENIUM could be used as the host policy administration platform and would allow them to accelerate a strategic new product launch.
“We selected SOLCORP on the basis of their proven success in implementation at Canada Life and their strong credibility in the industry,” said Greg Kaiser, Senior Vice-President, Individual Life Insurance, Great-West, London Life and Canada Life. “INGENIUM provides the flexibility we need to rapidly introduce new products to market and dramatically accelerate core back-office business processes.”
“We’re excited to be taking our longstanding relationship with Canada Life to a new level and we are pleased to have Great-West Life and London Life join our global client roster,” said Blair Goulet, Senior Vice President of Sales and Marketing, SOLCORP. “This extended agreement reflects our commitment to facilitate Great-West’s technology business alignment. We are also committed to partnering with Great-West to support their ability to define and introduce new products to the market more rapidly.”
SOLCORP, a wholly owned subsidiary of EDS, is an acknowledged leader in providing software solutions and consulting services worldwide for the life insurance and bancassurance industries. Many of the largest life insurance and financial groups have benefited from SOLCORP’s advanced systems, such as SOLCORP / INGENIUM, and SOLCORP / ProductXpress, which have been developed in close cooperation with the customers themselves. Customers range across the United States, Canada, the United Kingdom and Europe, South America and Asia Pacific. For more information, visit the company’s Internet site at http://www.solcorp.com.
EDS, the world’s most experienced outsourcing services company, delivers superior returns to clients through its cost-effective, high-value services model. EDS’ core portfolio comprises information-technology and business process outsourcing services, as well as information-technology transformation services. EDS’ two complementary, subsidiary businesses are A.T. Kearney, one of the world’s leading high-value management consultancies, and UGS PLM Solutions, a leader in product data management, collaboration and product design software. With 2002 revenue of $21.5 billion, EDS is ranked 80th on the Fortune 500. The company’s stock is traded on the New York and London stock exchanges. Learn more at www.eds.com.