New release aimed at improving regulatory compliance and connectivity
TORONTO, Dec. 18 /CNW/ -- EDS today announced the release of INGENIUM
v7.1, an update to its Web services-enabled policy administration system, now
with a full complement of regulatory compliance tools for non-traditional life
insurance products and better than ever connectivity to the field through
ACORD TXLife transactions.
INGENIUM is a robust and flexible solution, providing full-function
processing for an extensive range of life and investment offerings. Through
its PathFinder browser interface, INGENIUM enables dynamic business activity
monitoring, providing real opportunities for business process improvement and
rapid return on investment. INGENIUM integrates seamlessly with standard
third-party solutions including customer service Web portals and other mid-
and front-office tools.
"In this release, we were very focused on enhancing INGENIUM's compliance
and connectivity functions," stated Roger Paehr, product manager, Policy
Administration Systems, EDS SOLCORP. "This is just part of our multi-year plan
Some of the new and enhanced capabilities offered by INGENIUM v7.1
-- Tax history for all jurisdictions, providing greater financial
integrity and better insight into the impact that policy activities
(changes, payments, withdrawals, etc.) have on a policy's tax position
-- Cash Value Accumulation Test (CVAT) processing, in addition to the
already supported death benefit corridor concept, provides insurers
with a choice as to which method to use for Universal Life contracts
-- Review of distributions in the two years prior to a policy achieving
MEC status in order to treat them as MEC distributions, thereby
decreasing the manual workload associated with this process
-- CITS (Canadian Insurance Transaction Standardization) compliance for
both In-force and Pending feeds, allowing for greater connectivity
through industry agreed usage of ACORD TXLife transactions.
-- Increased rate structure flexibility allowing greater variation in
These enhancements to an already feature-rich solution mean that as
organizations grow, expanding their products, client base and geographies,
INGENIUM will continue to be a part of that growth for the long-term,
providing cross-platform versions to suit a variety of computing environments,
including .NET and UNIX.
"We continue to explore new options for improving INGENIUM's flexibility
and functionality to ensure our clients have the best tools possible for
effectively managing and growing their businesses," Paehr added. "INGENIUM is
recognized for its superior scalability, and we're committed to securing its
position as a powerhouse in the policy administration system market."
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. Visit us at edssolcorp.com.
EDS (NYSE: EDS) is a leading global technology services company
delivering business solutions to its clients. EDS founded the information
technology outsourcing industry 45 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 eds.com.
Cindy Coleman - EDS
For further information:
For further information: Cindy Coleman of EDS, +1-636-931-5385,
firstname.lastname@example.org, Web Site: http://www.eds.com