Polaris Launches Cloud-Ready Platform for Insurance Sector

Polaris launches cloud-ready platform for insurance sector; offers more than 70 business services to improve business agility, plus lower run and change costs.

Addressing the insurance industry's need for solutions that are efficient and easy to implement, Polaris Software Lab, Inc. (Chennai, India, a Polaris Group Company), has launched its first Cloud-Ready platform offering for the insurance sector globally. Intellect SEEC is a comprehensive solution for insurers that offers 3X Efficiency Multiplier, running on the Polaris Continuous Migration (PCM) Architecture. The SOA-compliant cloud-ready offering and PCM Architecture enables organizations to extend the useful lifespan of existing IT investments and also to future-proof new investments, the vendor says.

The 3X solution combines Customized Product Launches, New Distribution Channels and Automated Service Delivery, which helps lower the total cost of ownership of enterprise applications. This 3X Efficiency Multiplier works in tandem with PCM to deliver over 50 percent savings in cost and time on complex solution delivery across multiple product configurations. PCM in turn leverages from Insurance CBX, a delivery enabler which connects to the legacy systems, providing seamless integration and straight-through processing for critical business processes. Insurance CBX leverages role-based workstations, business rule base and plug-and-play services library to support efficiency and adapt to changing business and technical requirements.

Intellect SEEC is a pure-play SOA-based cloud offering comprising 10 platforms and more than 70 products. The Polaris proprietary Insurance knowledge shelving and wiring framework (L0) has more than 100 business processes, and more than 1,000 business cases documented in the areas of product management, asset/broker management and customer management, spanning new business, policy administration, claims, billing and accounting, risk management, investment and reinsurance.

Katherine Burger is Editorial Director of Bank Systems & Technology and Insurance & Technology, members of UBM TechWeb's InformationWeek Financial Services. She assumed leadership of Bank Systems & Technology in 2003 and of Insurance & Technology in 1991. In addition to ... View Full Bio