Industry-leading SOLCORP / INGENIUM 6.1 and Ultimate Engine provide the technology for Co-operators Life Insurance Company pilot project
September 27, 2000 – SOLCORP, a leading provider of software solutions to the life insurance industry, and illustrate inc, leading provider of specialized illustration systems for the life insurance market, announced today that they have formed a marketing alliance. The two companies will co-develop an interface between their systems to be piloted by the Individual Life Systems group of Co-operator’s Life Insurance Company.
Under the agreement, SOLCORP have developed a unique interface to extract policy information from SOLCORP / INGENIUM (INGENIUM), a fully integrated, browser-based insurance processing solution, and pass it on to illustrate’s Ultimate Engine, a generic and easily customizable illustration system. This provides a quick and effective in-force illustration solution.
“We are very pleased to have formed a marketing alliance with a proven industry leader such as illustrate inc,” said Jim Neufeld, Senior Vice President of Business Development at SOLCORP. “With this alliance, SOLCORP is not only delivering to customers a total solution, but strengthening our reputation as a company dedicated to developing innovative, customer-driven solutions that truly impact technology used in the Insurance sector.”
“We are very excited at the prospect of our new relationship with SOLCORP”, said Zahir Dhalla, President, illustrate inc “This alliance enables us to provide a streamlined in-force illustration solution for our clients in order to comply to the industry’s sales and in-force guidelines. It also reduces the development cycle and ensures data integrity. We believe that the applications will be endless and will allow our clients to be pro-active in responding to their customer needs.”
“SOLCORP has been effectively delivering best-of-class back end administration systems to the Individual Life Systems group of Co-operators with the INGENIUM product,” said Michelle Beaubien, manager, Individual Life Systems, Co-operators. “We’re building onto that functionality by incorporating technologies from illustrate and SOLCORP and integrating an in-force illustration engine which will be an integral part of supporting our Universal Life product and meeting industry requirements to provide customers with an illustration of our product whenever requested by the customer.”
About illustrate inc
illustrate inc (formerly CompAct Systems) specializes in illustration software development and consulting services for the Canadian Life Insurance market. The generic design of their Ultimate Engines, which support illustration of new business and in-force projections for Universal Life, Term and Permanent Participating plans, coupled with rapid development tools, allow for quick delivery of easily customizable illustration solutions. For more information, visit the company’s Internet site at http://www.illustrateinccom/.
SOLCORP, a wholly owned subsidiary of EDS, is an acknowledged leader in providing software solutions and consulting services worldwide for the life insurance and bancassurance industries. Many of the largest life insurance and financial groups have benefited from many of SOLCORP’s advanced systems, including SOLCORP / INGENIUM and SOLCORP / APEX. These systems have been developed in close cooperation with the customers themselves. SOLCORP’s customers are a diverse group from across the United States, Canada, the United Kingdom, Europe, South America and Asia Pacific.