China Pacific Insurance Corporation Selects Sherwood International for Pilot Business Process Automation Project.Business Editors/Technology Writers
ARMONK, N.Y.--(BUSINESS WIRE)--Dec. 17, 2002
First Contract From Sherwood's Partnership with China Hewlett-Packard
Sherwood International, the global insurance solutions specialist, and China Hewlett-Packard (HP) today announced the first contract arising from their partnership agreement to provide insurance technology to the Chinese market. Under the terms of the agreement Sherwood and HP will work with the Life division of the China Pacific Insurance Corporation (CPIC CPIC Canadian Police Information Centre
CPIC China Pacific Insurance (Group) Co. Ltd.
CPIC Capital Planning & Investment Control
CPIC Combined Press Information Center
CPIC Coalition Press Information Center ), CPIC Life, to pilot Sherwood's flagship Amarta(TM) LIFE product aimed at replacing its current core business administration system.
Commencing as a pilot in November 2002, Sherwood's flagship Amarta software will form the basis of a plan for a full system modernization in 2003. Amarta provides a core set of world class business processes that are commonly used by insurance companies around the globe because of flexibility and reusability that go beyond traditional pre-packaged software See software package. products.
With multilingual and multi-currency functionality, the software enables insurance companies to develop automated, highly scaleable business processes. Its unique business modeling driven approach ensures that the system can continually adapt to business change at a controlled ongoing cost.
Steven Bessellieu, North American North American
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Hong Tao, Chairman of CPIC Life said: "Introducing Amarta Life into CPIC Life for helping build a core life business processing system in the company is one of the big steps in implementing our strategic plan. We believe that the cooperation between CPIC Life and Sherwood will deliver as we expect."
In June 2002, Sherwood International and China HP signed a memorandum of understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. to provide software and services to meet the expanding needs of the Chinese insurance market. "Sherwood and HP have had a long partnership, but this pilot takes this relationship to a new level. HP Consulting and Integration is taking a significant services role in the pilot as part of its focus on the insurance Industry," states Richard Holling, HP Services Insurance Practice Manager.
About Sherwood International
Founded in 1970, Sherwood International is a leading provider of software solutions and services to the global financial services The examples and perspective in this article or section may not represent a worldwide view of the subject.
Please [ improve this article] or discuss the issue on the talk page. industry and UK government.
Through major offices in London, 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 , Toronto, Glasgow and Bangalore, Sherwood International serves over 120 clients in the Life & Annuities, P&C and Reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. sectors including international blue-chip companies Blue-chip company
Used in the context of general equities. Large and creditworthy company. Company renowned for the quality and wide acceptance of its products or services, and for its ability to make money and pay dividends. Gilt-edged security. in the wholesale and retail insurance industry.
Sherwood international (Symbol: SHC SHC Sears Holdings Corporation (Hoffman Estates, ILt)
SHC Self-Help Clearinghouse (Valley Cottage, NY)
SHC Spring Hill College (Mobile, AL, USA)
SHC Solar Heating and Cooling ) is quoted on the London Stock Exchange London Stock Exchange
London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. . Visit Sherwood International's Web site at www.sherwoodinternational.com for additional information.
About China Pacific Life Insurance Co., Ltd.
Founded in 2001 in Shanghai, China Pacific Life Insurance Co., Ltd (CPIC Life) is a nationwide shareholder owned commercial life insurance company offering customers with a variety of life products. Its predecessor is the life division of the China Pacific Insurance Company (Group), Ltd.
CPIC is headquartered in Shanghai providing quality services to customers through its branches and distribution units across the country, as well as its subsidiaries and representative offices in Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. , London and New York. CPIC Life has developed over 100 products including life, annuity, health and accident life insurance. CPIC Life is also striving to improve its emergency assistance system and its 95500 call centre service.
Please visit CPIC's Web site at www.cpic.com.cn for more information.