 "HP Enhances Insurance Policy Administration Systems")
HP has announced enhancements to its life, health and annuity policy administration systems, enabling insurance providers to improve agility, mitigate risk and accelerate delivery of new products. HP has enhanced the RADIENCE Administration and INGENIUM systems to support the critical role agility plays in today’s Instant-On Enterprise.
“Insurance providers are seeking competitive advantage both in mature markets and in new, developing markets,” said Marshal Correia, Director, Enterprise Services, HP India. “HP offers the hardware, software and services needed to create that competitive advantage by fostering innovation and accelerating responsiveness in this 24/7 world.”
The enhanced functionality and design capabilities of the HP RADIENCE Administration system enable insurers to introduce truly unique products to the market while reducing implementation time frames, costs and overall project risks. Client benefits of the new HP RADIENCE Administration solution include:
Rapid response to market and regulatory changes by eliminating costly, time-intensive reprogramming with a model-driven application that simplifies the process for changing and updating system content, appearance and behaviour.
A significant reduction in implementation costs, enabling clients to mix and match features from multiple product lines.
Accelerated implementation based on a service-oriented architecture and a highly flexible, user-friendly interface that maximises end-user productivity to speed time to market.
HP INGENIUM is a high-performance, web-enabled global life, health and annuity policy administration system that enables insurance companies to reduce the risk of systems implementation.
Built on a highly flexible architecture, the enhanced HP INGENIUM enables clients to:
Mitigate the inherent risks of administration system implementations with support for a wide variety of policies, procedures, distribution channels, product mixes, organisational structures and target markets.
Provide 24/7 capabilities with web-based, always-on accessibility to distribution and customer service channels, even during daily batch processing.
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