EDS said its Radience: Consolidation program is a direct response to industry analyst forecasts and customer demand for software that improves customer service delivery and facilitates communication with distribution channels. It works by centralizing and standardizing replicated business processes and data across a variety of administration systems, including third-party and in-house products developed by IT departments.
In an evolving technology and merger and acquisition environment, insurance industry administration systems often do not communicate with each other or are not adequate for improving customer service, introducing new products in a timely manner or facilitating communications with distribution channels, said Eduardo Alzamora, vice president, product strategy & management with EDS-Solcorp. For the life insurance industry to increase productivity and hold IT costs in check, a radical shift in thinking and technology must occur.
Radience: Consolidation also adheres to standards-based models and schemas (XML for Life) to facilitate front-office, distribution and self-service capabilities.
