Camilion Solutions Introduces Product Lifecycle Management for Financial Services

Latest Product Innovator release supports cradle-to-grave product management

ORLANDO, FLORIDA, May 23, 2005 — Camilion Solutions, a leading provider of product lifecycle management solutions for the financial services industry, today announced the general availability of Product Innovator v4.4. Product Innovator is a full product lifecycle management (PLM) solution with features and functionality specifically for the insurance industry.

“Insurers are telling us that increased profit and market share through product innovation, efficient product development processes and speed-to-market are their top priorities,” said Lori Nave, VP Marketing, Camilion Solutions. “PLM is a proven strategic approach which, when applied to insurance products, can accelerate product development, improve productivity and create sustainable competitive advantage.”

The new enhancements to Product Innovator allow all stakeholders in the product development process to work collaboratively within a common environment. The solution facilitates the reengineering of the product development process, enabling organizations to implement a standardized approach to the configuration and definition of new products. Product Innovator’s new features include:

  • Standard methodology to configure products, product features and product rules which automatically generates a product catalog. All product data is accessible in one place regardless of system which administers the product

  • Additional template product definitions based on ACORD Life PolicyProduct
    Reference Model including definitions for LifeProduct, AnnuityProduct, and InvestProduct

  • Enhanced APIs make it easier for existing insurance systems to consume product definitions, rules, etc.

  • Enhanced Rule testing capabilities lets users test and validate product rules during the development and prototyping stages, improving quality

  • Customizable template processes for online collaboration between IT and Product Management to support the definition of new or revised products

  • Improved collaboration directly from within Product Innovator improves efficiency

Also announced today was Camilion PLM Accelerator(TM), a rapid implementation program that ensures a quick, successful implementation of the PLM framework. PLM Accelerator encompasses the methodology, tools and expert services required for delivery of the Enterprise Product Architecture, product definition, and a ROI model.

“Insurers struggle to make their products stand out from the pack,” said Nave. “Using Product Innovator, they can create differentiation in the market with innovative products delivered to market ahead of the competition.”

About Camilion Solutions, Inc.

Camilion Solutions, Inc. is the leading provider of product lifecycle management solutions for the financial services industry. Camilion’s solutions enable companies to quickly and efficiently launch new products into target market segments and manage the increasing complexity and proliferation of product features across multiple channels, without having to replace existing legacy systems. Founded in 2000, Camilion Solutions, Inc. is a privately owned, venture capital funded corporation headquartered in Toronto, Canada. For more information about Camilion and its products and services visit us at www.camilion.com.

Camilion is a trademark of Camilion Solutions Systems, Inc. and may be registered in certain jurisdictions. All other product and company names mentioned are the property of their respective owners and are mentioned for identification purposes only.