In a trend that points toward the further use of Open Source models, Prima Solutions, a provider of a buy-and-build insurance software framework, says that Tokio Marine & Nichido Fire Insurance Co. Ltd (Tokio Marine & Nichidohas) has chosen Prima IBCS, an insurance reference model now adopted by ACORD.
The agreement also calls for the insurer to use Prima Repository, the insurance-ready, all-in-one SOA platform, to jumpstart a strategic new application development initiative that targets their large commercial products.
The Prima software framework is being used in a two-stage approach. The first stage, which has been completed at the end of June 2009, consisted in developing a pilot application. The second stage consists in rolling over the technology for the development of the larger program. Prima Solutions is a member of ACORD and OMG.
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