IBM and Camilion Team Up to Deliver Product Lifecycle Management Solutions to Insurers.Global Business Services Will Resell re·sell tr.v. re·sold , re·sell·ing, re·sells 1. To sell again. 2. To sell (a product or service) to the public or to an end user, especially as an authorized dealer. Camilion's "Pure" Product Configurator TORONTO -- 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) Global Business Services and Camilion Solutions, the leading provider of Product Development Solutions and Policy Administration Systems to the insurance industry, today announced an agreement whereby IBM is now a reseller for Camilion's flagship software solution, ProductAuthority[TM]. IBM, which is the largest provider of IT solutions to the global insurance industry, supporting more than a billion transactions a day, will also resell Camilion services and training. Industry experts predict that customized, niche products in life, health and property are the next phase in insurance. Capitalizing on that trend will require dynamic 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. models designed to quickly take advantage of fluctuating market and customer demands, as well as information systems and data to help identify, predict and manage to those demands. The world's only "pure" insurance product configurator, ProductAuthority provides IBM with the crucial product development component for their enterprise Insurance Product Lifecycle Management (PLM (Product Life cycle Management) A comprehensive information system that coordinates all aspects of a product from initial concept to its eventual retirement. Sometimes called the "digital backbone" of a product, it includes the requirements phase, analysis and design ) solution. IBM will provide the integration expertise, the business knowledge required around data and analytics, and the hardware and software platform to optimize speed to market and performance. This end-to-end PLM solution will enable customer-driven product development and allow business users to better manage product information and make it consistent throughout the enterprise. In addition, insurers will realize significant process improvement and costs related to product development, distribution and customer service would be dramatically reduced. In a February, 2007 report entitled "Product Configurators Set Foundation for PLM in Insurance", author Kimberley Harris-Ferrante, Research Vice President, Gartner, recommends that insurers, "Continue to buy product configurators as the foundation for PLM, and select vendors that are investing in next-generation product development requirements." She further states, "careful evaluation of the technology and its ability to integrate with solutions being used in marketing, sales and policy administration is key for fulfilling next-generation product development needs." "Camilion's partnership with IBM gives both our organizations the unique ability and experience to facilitate a critical business transformation for our mutual 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. of Camilion. "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 will easily integrate with key data and analytics solutions that IBM will provide, as well as next-generation Policy Administration Systems, to enable insurers to meet their future product development requirements." About Camilion Solutions, Inc. With customers who are the world's largest insurers, Camilion Solutions, Inc. (www.productauthority.com) 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 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. , 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 . ProductAuthority[TM] is a trademark of Camilion Solutions, Inc. All other trademarks are the property of their respective owners. |
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