WealthServ-Insurance provides Hub Financial with new strategic technology platform to support growth and changing industry business models
OCT 24, 2005 – TORONTO, ON – EDS-SOLCORP, a global leader in software for the life insurance and wealth management industries, announced today it has completed agreements to install the WealthServ-Insurance software platform suite at Hub Financial to support sales and administration operations in Canada.
WealthServ-Insurance is the industry�s newest and most comprehensive agency management system. It enables Managing General Agencies (MGAs) and advisors to directly manage insurance and investment business from multiple suppliers using a single administration system. WealthServ automates case management, client data consolidation, carrier connectivity, broker compliance and compensation, providing up-to-date data when and where it is needed.
�The future of the independent financial services distribution industry is based on delivering more accurate and up-to-the-minute information from suppliers,� said Terri DiFlorio, president of Hub Financial. �The WealthServ software platform from EDS-SOLCORP will support our broker network by having insurance and investment data all in one view, from all our suppliers. We expect that our advisors will win more business and retain more clients as a result of this choice.� WealthServ-Insurance allows providers to reduce business cycle times, increase take-up rates, support higher productivity models and lower the processing costs of pending, new and in-force policies.
�Connectivity is one of the core business issues, and with WealthServ from EDS-SOLCORP, we are positioned with the best solution partner to bring that to life in the next 12 to 24 months,� added DiFlorio.
�WealthServ-Insurance is a flexible platform that helps meet the demanding requirements of Hub Financial�s expanding broker and advisor network,� said Alex Sweeny, EDS-SOLCORP vice president. �This business partnership with a leader in the North American independent insurance distribution channel is further proof that EDS-SOLCORP is providing a strategic end-to-end solution the industry is seeking.�
Sweeny added that WealthServ technology provides the ability to directly handle multiple lines of business and the diverse products and services offered by Hub Financial which allows advisors to provide clients with increased quality of advice, improved service response time with no additional effort, data security and dependable accuracy of information.
�This is the type of service that increasingly savvy insurance and wealth advisors are demanding from their distributors and we are pleased to provide the tools to make it possible,� he added.
EDS-SOLCORP, a division of EDS, is a global leader in software solutions and services for the life insurance and wealth management industries. For 25 years, EDS-SOLCORP solutions have helped customers reduce their total cost of administration, accelerate time-to-market for new products, and streamline their infrastructure. EDS-SOLCORP has more than 150 successful implementations in 20 countries and five continents. To learn more about EDS-SOLCORP and its products, please visit www.solcorp.com
About Hub International
Hub Financial is a subsidiary of Hub International Limited, Headquartered in Chicago, IL, Hub International Limited is a leading North American insurance brokerage that provides a broad array of property and casualty, life and health, employee benefits, investment and risk management products and services through offices located in the United States and Canada. Hub Financial is, by volume, the number one insurance MGA in Canada. www.hubinternational.com
EDS provides a broad portfolio of business and technology solutions to help its clients worldwide improve their business performance. EDS’ core portfolio comprises information-technology, applications and business process services, as well as information-technology transformation services. EDS’ A.T. Kearney subsidiary is one of the world’s leading high-value management consultancies. With 2003 revenue of $21.5 billion, EDS is ranked 87th on the Fortune 500. The company’s stock is traded on the New York (NYSE: EDS) and London stock exchanges. Learn more at eds.com