Headlines in this issue
As of October 1, 2012 five insurance organizations are in production on IBM Genelco Insurance Administration Solution™ (IBM GIAS). The five insurance companies, four in the US and one in China, process various portfolios of traditional and non traditional Individual insurance business including term life, whole life, endowments, pre need, disability income, personal and group life, and annuity contracts.
One of the five companies that implemented IBM GIAS is a start-up operation. "While all of the organizations live on IBM GIAS use the 'out-of-the-box' wide and deep product functionality of IBM GIAS," remarked John Moser, IBM GIAS Product Manager - Individual Products, "start-up operations especially can take advantage of a quick ramp up to attract and gain market share in any client's unique market niche."
Additionally, the start-up operation using IBM GIAS got up and running within the time frame they had outlined, a 6 month window from the project kick-off. And, the organization defined its product offerings themselves. "We want clients to especially handle product definition and set up," explained Moser. "Product definition is one area of insurance operations that can involve the most change and which can also affect the bottom line quickly."
What's more is that IBM GIAS allows the business operation area to be in control regarding the value of a product and its bottom-line results. The LoB can update, remove, clone and adjust product features in IBM GIAS using the solution's rules and tools without waiting for the IT department. Modern companies, start-ups or not, need competitive and consumer-centric options like those inherent in IBM GIAS, to gain and/or keep marketshare.
Meanwhile, today's Web savvy insurance buyers and policyholders look for financial products that are easily viewed, purchased and tracked online. And, integrating Straight-Through-Processing (STP) tools such as electronic forms and signatures complement the online consumer experience. Today accessing modern tools and applications allowing interactions from the Web or an ATM is what is expected. "Consumers want to interact with an insurance company through non-traditional routes," advised Moser. "And today's market is about removing the handcuffs of technology, allowing quick access for all stakeholders and focusing on innovative methods for obtaining and keeping policyholders while keeping costs low."
More clients are in the queue to implement IBM GIAS. More prospects are learning daily about the benefits of IBM GIAS. If you would like to learn more about the system and its functionality, visit ibm.com/insurance/genelco or call 800-983-8114 today.
Long time customer, Colonial Life Insurance Company (CLICO), located in Port of Spain, Trinidad, has re-implemented the Genelco group health processing system by licensing Genelco Group+ version 6.1.2 to take advantage of the advanced features and functions inherent in the system. CLICO uses this version to process its group insurance products for dental, medical, vision, AD&D and life policies.
CLICO worked with its Account Manager, Jeremy Bourland, in assessing its business objectives before finalizing its decision to move back to the Genelco system. Subsequently, an IBM project management team was formed and training and support were provided to assist CLICO in moving forward to full implementation of the system.
To obtain more information about CLICO, visit its web site at www.clico.com (link resides outside of ibm.com) . To discover how IBM can assist your organization with solutions and services, contact your Account Manager.
IBM Group Modernization Sponsors were advised of the availability of IBM GIAS Version 3.1.3 for both System i and Wintel environments. This release is one of several version releases for 2012 that builds upon the group health insurance processing functionality of the system.
Version 3.1.3 delivers on additional claim components for Flexible Spending Accounts, Dental, and Core Interfaces for Provider and Claim History. Additional capabilities with this release encompass Common Agent functionality and foundation pieces for Commission processing.
Client Sponsors have been provided information about specific steps for accessing the release. Implementation of this version requires assistance from IBM. Meanwhile, anyone interested in the IBM GIAS group functionality should email Sales at email@example.com.
IBM GIAS was specifically built to allow the client to choose the platform and database that best fits the organization's IT environment and needs. We are pleased to announce that the most recent version of IBM GIAS, Version 2.2, for Individual life, health and annuity insurance product administration was successfully loaded on a zLinux VM and regression testing (ensuring IBM GIAS is functioning with the zSystem platform) was also successful.
Immediately following regression testing, performance benchmarking will be conducted that includes stress testing the system for 5 million policies and 1,000 users. Benchmarking is scheduled to conclude end of 1Q13 with an outcome of producing sizing algorithms for the mainframe platform.
IBM GIAS is presently deployed in five insurance organizations on either a Power Systems™ with IBM i or on Intel™ with Microsoft© Windows© environments--four deployments in US and one in China. Counting these five insurers there are 31 licenses of GIAS with the remaining organizations in various phases of implementation. With the successful testing of IBM GIAS on a System z, IBM System z sellers will be able to discuss IBM GIAS as a viable administration processing solution for appropriate client locations.
IBM Group Modernization Sponsors now have a third and final option for specialized classes that offer a fast track for implementing IBM GIAS. Sponsors are urged to visit the Sponsor Web site and click on the QuickStart Program link to view PDFs of class offerings for the third round courses being offered.
The first round of courses concluded in October, the second round concludes in December and the third round begins in February of 2013. Customers planning to begin their GIAS implementation after the first of the year should contact your Account Manager. Don't delay as classes are expected to fill up fast, contact Bob Marino or Jeremy Bourland today!
For more information on these topics or other Genelco products and services, contact your Account Manager:
Jeremy Bourland, firstname.lastname@example.org or 720-396-8207
Nancy Levin Essman, email@example.com or 636-681-1975
Bob Marino, firstname.lastname@example.org or 720-395-2888.
They are available to help you solve processing issues affecting your business.
IBM, IBM logo and System z are registered trademarks and Power Systems is a trademark of the International Business Machines Corporation.
Genelco and Genelco Group+ are registered trademarks and IBM Genelco Insurance Administration Solution is a trademark of IBM Business Transformation Outsourcing Insurance Services Corporation in the United States.
Other product and service names might be trademarks of IBM or other companies. A current list of IBM trademarks is available on the Web at Copyright and trademark information at www.ibm.com/legal/copytrade.shtml.
Copyright IBM Corporation 2012.