Camilion Solutions Announces Latest Release of Product Development Software for Insurance.ProductAuthority(TM) Features New IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) Support, Product Compare Capabilities and Rule Building Enhancements To Accelerate Product Development TORONTO -- Camilion Solutions, a leading provider of product development and next-generation policy administration systems to the insurance industry, today announced its latest release of ProductAuthority(TM) with features that will enable insurers to further accelerate the development of products. This new release provides: complete support for IBM's Insurance Application Architecture (IAA IAA abbr. indoleacetic acid Noun 1. IAA - a plant hormone promoting elongation of stems and roots indoleacetic acid auxin - a plant hormone that promotes root formation and bud growth 2. ) model, which provides product definition templates based on insurance best practices; Product Compare capabilities that enable users to compare the specifications for any two products in ProductAuthority's central repository; and enhancements to the solution's rule building functionality to allow an insurer's product analysts to more easily create product rules and test their impact on consuming systems, like underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. and claims, before a product is launched. "Leading insurers, especially in the Life and Annuities markets, are under tremendous pressure to deliver innovative products that respond to the demands of their sales channels and customers," said Ross Orrett, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Camilion Solutions, Inc. "This new functionality in ProductAuthority will enable our customers to accomplish this faster and more efficiently than ever, especially those who utilize IBM's IAA model." Through its support of IAA, ProductAuthority now enables:
- Product analysts to fully model products using IAA, without
dependence on IT resources, including the creation and
management of Request, Rule and Calculation specifications to
significantly improve time to market.
- Automatic creation of business friendly product specification
documents from IAA product models.
- An IAA Product Test Facility to validate product Request,
Rule and Calculation specifications to improve the quality of
products and monitor the impact of the product on other
systems before deployment.
- Product agility through the reuse of individual product
components when creating new products.
- Publish products based on the IAA generic agreement enabling
customers who adhere to the IAA specification to simplify
product integration with underwriting and policy
administration systems that support the IAA specification.
Recently, ProductAuthority was integrated into IBM's Insurance Solution Lab (P&C) in Dallas, Texas “Dallas” redirects here. For other uses, see Dallas (disambiguation). The City of Dallas (pronounced [ˈdæl.əs] or [ˈdæl. , as the product configuration solution that powers their product lifecycle Product lifecycle or product life cycle is the course of a product's sales and profits over time. The five stages of each product lifecycle are product development, introduction, growth, maturity and decline. management solution. Through its product managers' Workbench, ProductAuthority now also allows users to compare the specifications for any two products. This "side-by-side" comparison is provided in Adobe PDF (Portable Document Format) The de facto standard for document publishing from Adobe. On the Web, there are countless brochures, data sheets, white papers and technical manuals in the PDF format. format and highlights differences between the products. Product developers can quickly and easily ensure that all product differences have been identified correctly, especially important if components from an existing product are being used to create a new one. As well, when insurers grow through mergers and acquisitions they often end up with similar products in their portfolio, so Product Compare will help expedite decisions around which products to keep or retire. About ProductAuthority Built to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. a Services-Oriented Architecture (SOA (1) (Start Of Authority) The first record in a DNS zone file. See DNS records. (2) (Service Oriented Architecture) The modularization of business functions for greater flexibility and reusability. ), ProductAuthority fundamentally changes the way insurers develop and implement products by completely separating product from process. A "pure" enterprise product configurator, ProductAuthority creates agility by externalizing all product data and rules from multiple, hard-coded operational systems into a central repository, where qualified business users can build and modify their own products. These reusable product definitions include all important product information - eligibility, packaging, underwriting rules and forms management - not just pricing or calculations. The integration of product definitions with important product-aware legacy applications, like Policy Administration Systems, is simplified by using Web Services (1) Loosely, any online service delivered over the Web. Such usage appears in articles from non-technical sources, but not in IT-oriented publications, because definition #2 below describes the correct use of the term. . ProductAuthority also incorporates a product manager's Workbench to automate product development processes and test products prior to integration with consuming systems; a Product Catalog that gives all product stakeholders Stakeholders All parties that have an interest, financial or otherwise, in a firm-stockholders, creditors, bondholders, employees, customers, management, the community, and the government. access to product features, rules and status; and the ability to generate full product specifications directly from the repository. About Camilion Solutions, Inc. With customers who are the world's largest insurers, Camilion Solutions, Inc. is a leading provider of enterprise product development solutions and policy administration systems for insurance. Camilion uses its deep knowledge of the insurance industry to develop software solutions that enable insurers to launch new or modified products more quickly and efficiently than competitors, automate underwriting, enable straight-through processing straight-through processing The direct exchange of cash and securities. Straight-through processing is a major objective for cross-border transactions that are generally much more costly to settle compared to domestic transactions. for online sales, and deploy an agile, modern technology platform to better support current and future growth. Camilion is a privately owned corporation founded in 2000 with offices in Toronto and New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion