Built on Microsoft’s .NET� platform, these latest developments in illustrate inc’s suite of web-based products assist insurers in meeting the industry’s sales and in-force illustration requirements
Toronto, Canada, February 2, 2004 — illustrate inc, a leading developer of policy illustration solutions to the life insurance industry today announced the availability of web-based in-force universal life and new business policy illustration solutions.
illustrate inc’s web-based in-force and new business illustrations have the power to provide head office staff and distributors with uncomplicated access, anytime and anywhere, to the most comprehensive and current policy and client data. Users can access their insurance company’s administration system and project or re-project policy values for the customer. They also have the advantage of running reports and handling transactions instantly and can submit fully compliant illustrations electronically along with the application. Illustrations can be saved and retrieved on-line. Reports are created in pdf format and can be emailed to a customer or to the head office. Both the in-force and new business solutions are bilingual (English and French) and allow full integration with other web software, permitting a field representative to present the customer with a full view of their options and projections as well as all supporting materials and forms in one visit.
To meet the needs of our customers for compliance to the industry’s illustration guidelines as well as their needs for cost-effective and versatile solutions, we are developing an entire suite of web-based applications. For illustrate inc clients, web-based applications are significantly reducing application maintenance and support costs and eliminating distribution and version control expenses,said Zahir Dhalla, President of illustrate inc. Customers can now efficiently maintain and support a single version of each of their in-force and new business illustration applications on their central servers. Without further intervention, updates, rate changes, product changes, etc., reach all users at once. Both solutions are easy to use, easy to learn, and easy to customize. To the user, they are virtually identical to the desktop versions to which many have already become accustomed, reducing any learning curve.
The web-based in-force and new business illustration solutions are available immediately. For product demonstrations, please visit www.illustrateinc.com/demos.html. The next development phase in the suite of web-based solutions includes new business Universal Life support and full integration with electronic forms for all web-based illustration products. Delivery dates are scheduled for Q2, 2004.
About illustrate inc
Founded in 1989, illustrate inc is a leading software and service provider for the Canadian life insurance industry. illustrate inc’s mission is to assist Canadian life insurance companies meet their sales and service needs through the design and delivery of modular policy illustration solutions using advanced technology. The modular design of its Ultimate Engines for new business and inforce illustrations coupled with powerful development tools allow for the efficient delivery of easily customizable solutions. illustrate inc is a privately held company headquartered in Toronto. The illustrate inc team includes actuarial staff, systems design and architecture specialists as well as experts in insurance administration system functionality, insurance product design and taxation and compliance issues. The company understands the unique needs of the life insurance industry and specializes in solving complex sales distribution and policy illustration issues. Working in partnership with leading insurers, illustrate inc has established a reputation for delivering innovative policy illustration solutions on time and within budget. For more information, visit the company’s web site at www.illustrateinc.com.