EL SEGUNDO, Calif.--Computer Sciences Corporation
today introduced a new version of its CyberLife system for real-time administration of traditional and non-traditional life insurance and annuity contracts.
With its new open architecture and Web capabilities, CyberLife will help life insurers decrease time to market for their insurance products and lower their software costs.
The enhanced CyberLife system is the result of a two-year, strategic technology program (STP), which entailed more than 100 person years from CSC and 13 leading U.S. life insurers who sponsored the program.
CyberLife provides straight-through processing for life and annuity
products, from the new business and underwriting stages through benefits illustration, claims processing, administration, billing and collection, correspondence and reporting.
The new version complies with CSC e4, the company's enterprise integration architecture. This helps financial services companies renovate core systems, reducing the need for full-scale systems replacement projects, and employ new software components.
The new CSC e4-compliant version of CyberLife is component based and uses open standards, such as ACORD's XML interfaces and HTTP-based protocols. CyberLife's XML input and output capability and Web-based architecture simplify the management of life insurance transactions between all major parties, both inside and outside the enterprise.
"Jackson National has a history of collaborating on CSC's strategic technology programs," said George Napoles, executive vice president of Information Technology (IT) at Jackson National Life, a CyberLife STP sponsor. "CyberLife and other CSC products have contributed to Jackson National's success as a top U.S. seller of fixed annuity products, so we emphasized marketplace competitiveness as a goal of this development effort."
