Latest Release of the Leading Policy Administration System Is Now Available on All Platforms, Including .NET
TORONTO, June 14, 2005 — EDS-SOLCORP, a leading provider of software solutions to the life insurance and financial industries, today announced the release of version 6.6 of the SOLCORP / INGENIUM(R) policy administration system. In addition to UNIX and mainframe systems, the new version is also available on the recently announced .NET platform, providing insurers with more choices for their preferred platform.
INGENIUM offers financial organizations the ability to define and administer a broad range of wealth management products, including UL, VUL, deferred and payout annuities, and more traditional individual insurance products. INGENIUM’s business functionality fully supports new business, underwriting, customer service and administration processing throughout the entire lifecycle of a contract — from the acquisition of new applications through to final settlement or claim. Business processing is client-centric, providing uninterrupted real-time access to all customer portfolio information. Customer and distributor inquiries and service requests can be processed immediately with all necessary activities and calculations performed automatically.
In addition to availability on the .NET platform, INGENIUM 6.6 includes new enhancements that were developed in conjunction with feedback from the US INGENIUM user group. Streamlining and improving customer service, the new enhancements include future-dated transactions and death claim interest.
“INGENIUM is well-known to evolve to meet the needs of insurers,” said Lisa Rose, INGENIUM Product Manager, EDS-SOLCORP. “With the new .NET platform and enhancements drawn directly from user group feedback, version 6.6 continues this commitment to our clients.”
EDS-SOLCORP is a global leader in software solutions and services for the life insurance and wealth management industries. EDS-SOLCORP solutions help customers reduce their total cost of administration, accelerate time-to-market for new products, and streamline their infrastructure. SOLCORP / INGENIUM(R) is a high-performance, web services-enabled policy administration system that provides full-function processing for an extensive range of life and investment products. SOLCORP / ProductXpress(TM) is a scalable enterprise platform that allows IT to develop and implement reusable calculations across multiple applications. RADIENCE: Consolidation(TM) enables insurers to access consolidated, customer-centric data and execute common business processes across a variety of policy administration systems. http://www.solcorp.com
EDS (NYSE: EDS) is a leading global technology services company delivering business solutions to its clients. EDS founded the information technology outsourcing industry more than 40 years ago. Today, EDS delivers a broad portfolio of information technology and business process outsourcing services to clients in the manufacturing, financial services, healthcare, communications, energy, transportation, and consumer and retail industries and to governments around the world. With $20.7 billion in 2004 revenue, EDS is ranked 95th on the Fortune 500. Learn more at http://www.eds.com.
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Leveraging EDS’ decades of experience in outsourcing solutions and EDS- SOLCORP’s expertise in the insurance industry, EDS-SOLCORP and EDS work with insurers to determine the right processes, technologies and service levels to meet their business objectives. Whether companies are trying to maximize the profitability of existing books of business, or enter new markets faster with lower costs and less risk, an EDS-SOLCORP solution is a cost-effective means to generate a competitive advantage.