PALO ALTO, Calif.--(BUSINESS WIRE)-- HP (NYSE:HPQ) today 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.
The insurance industry continues to evolve and expand as a result of dynamic customer and regulatory demands. Rigid legacy infrastructures can hamper an enterprise’s ability to keep pace with these demands, and to deliver always-on service to customers, partners and employees.
HP has enhanced the RADIENCE Administration and INGENIUM systems to support the critical role agility plays in today’s Instant-On Enterprise. In an age of “instant” expectations, businesses and governments need to have the ability to respond quickly and effectively to changing business and citizen needs.
“Insurance providers are seeking competitive advantage both in mature markets and in new, developing markets,” said Mark Boelens, general manager, Insurance Services, HP Enterprise Services. “HP offers the hardware, software and services needed to create that competitive advantage by fostering innovation and accelerating responsiveness in this 24/7 world.”
HP RADIENCE Administration
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 behavior.
- A significant reduction in implementation costs, enabling clients to mix and match features from multiple product lines.(1)
- 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.
HP INGENIUM
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, organizational 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.
Availability
HP RADIENCE and INGENIUM are available worldwide.
More information about HP insurance services is available at www.hp.com/go/insuranceservices.
About HP
HP creates new possibilities for technology to have a meaningful impact on people, businesses, governments and society. The world’s largest technology company, HP brings together a portfolio that spans printing, personal computing, software, services and IT infrastructure at the convergence of the cloud and connectivity, creating seamless, secure, context-aware experiences for a connected world. More information about HP is available at http://www.hp.com.
(1) Based on documented client results that are subject to unique business conditions, client IT environment, HP products deployed and other factors. These results may not be typical; results may vary.
This news release contains forward-looking statements that involve risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of HP and its consolidated subsidiaries could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to statements of the plans, strategies and objectives of management for future operations; any statements concerning expected development, performance or market share relating to products and services; any statements regarding anticipated operational and financial results; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Risks, uncertainties and assumptions include macroeconomic and geopolitical trends and events; the competitive pressures faced by HP’s businesses; the development and transition of new products and services (and the enhancement of existing products and services) to meet customer needs and respond to emerging technological trends; the execution and performance of contracts by HP and its customers, suppliers and partners; the achievement of expected operational and financial results; and other risks that are described in HP’s Quarterly Report on Form 10-Q for the fiscal quarter ended April 30, 2011 and HP’s other filings with the Securities and Exchange Commission, including but not limited to HP’s Annual Report on Form 10-K for the fiscal year ended October 31, 2010. HP assumes no obligation and does not intend to update these forward-looking statements.
© 2011 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice. The only warranties for HP products and services are set forth in the express warranty statements accompanying such products and services. Nothing herein should be construed as constituting an additional warranty. HP shall not be liable for technical or editorial errors or omissions contained herein.
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