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Policy Administration

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HP Enhances Life, Health and Annuity Policy Admin Systems

Enhancements to the RADIENCE Administration and INGENIUM systems foster greater speed-to-market, lower project risk and cost, accelerated implementation and greater accessibility to distribution and customer service channels, according to the vendor.

HP has enhanced its RADIENCE Administration and INGENIUM systems in order to support greater agility in response to changing business and customer demands.

The enhanced functionality and design capabilities of the HP RADIENCE Administration system enable insurers to introduce new products to the market quicker, with lower costs and project risk, according to HP. Client benefits that the vendor claims for the enhanced 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 behavior;

- A significant reduction in implementation costs, enabling clients to mix and match features from multiple product lines; and

- Accelerated implementation based on a service-oriented architecture and a highly flexible, user-friendly interface that maximizes end-user productivity to speed time to market.

Enhancements to HP INGENIUM, which the vendor describes as a high-performance, web-enabled global life, health and annuity policy administration system that enables insurance companies to reduce the risk of systems implementation, include the following, according to HP:

- Mitigation of the inherent risks of administration system implementations with support for a wide variety of policies, procedures, distribution channels, product mixes, organizational structures and target markets.

- Provision of 24/7 capabilities with web-based, always-on accessibility to distribution and customer service channels, even during daily batch processing.

Anthony O'Donnell has covered technology in the insurance industry since 2000, when he joined the editorial staff of Insurance & Technology. As an editor and reporter for I&T and the InformationWeek Financial Services of TechWeb he has written on all areas of information ... View Full Bio

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