New Offering Revolutionizes Policy Administration
Las Vegas, NV – EDS SOLCORP today announced the launch of RADIENCE: Administration, a new multi-product architecture and platform built from the ground up to address the policy administration needs of life insurance and annuity providers.
RADIENCE: Administration supports a unified product framework that eliminates traditional product silos, enabling users to easily combine features from life, annuity, health and disability lines into a single policy.
�The industry has been calling for a new breed of policy administration systems that are truly agile and flexible enough to support the rapid product innovation required to be competitive,� said Michael Mansfield, leader of EDS SOLCORP. �With our 25 year track record of delivering innovative solutions to the life and annuity industry, we knew we were in the best position to help our customers make the technological leap forward.�
An �end-to-end� enterprise life insurance operations platform, RADIENCE: Administration makes it possible for insurers to:
Build one policy that seamlessly supports features from any line of business;
Deliver accumulation and payout features in a single contract;
Deliver flexible “Straight Through Processing”;
Use model-based configuration functionality instead of coding for rapid new functionality deployment.
Furthermore, RADIENCE�s model-driven component-based architecture and standards allow for interoperation with existing and evolving IT ecosystems and supports legacy transformation with wrap and/or replace strategies. The solution supports open standards such as J2EE, Java, SQL, XML, Web Services and ACORD, and includes pre-built Life Insurance-specific SOA Web Services.
�The RADIENCE line of products represents a significant commitment by EDS SOLCORP to providing leading edge solutions to the marketplace,� said Mansfield. �Through our comprehensive suite of Life Insurance-specific products and services, we continue to raise the bar for the development and delivery of technology solutions for the industry.�
About EDS SOLCORP
EDS SOLCORP, a global business unit within EDS, is a 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 (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. Learn more at http://www.eds.com.