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tech update
Easier Variable Product Administration
McCamish Systems released its VPAS® (Variable Products Administration Systems) Life, a rules- and objects-based suite of products that allow insurance carriers to easily create and manage new products, including variable annuities, COLI (corporate owned life insurance), private placement, and universal life. "It’s like a framework that components are linked to," said Tom Fricano, director of systems architecture.
VPAS® Life offers a generic library of rules, which clients select to easily and quickly develop new products. For example, users customize products by choosing pricing elements, compliance rules, and transfer rules. It also has state-specific and business edits, Fricano said. "You don't have to change the base rules to release a new product," he said. "We don’t attempt to be everything to everybody. Instead we offer an ever-increasing library of those rules," Fricano said.
According to Robert Creasy, vice president of sales and marketing, VPAS® can be delivered in three ways with all pricing structures based on transactions: outsourcing, remote processing, or software leasing in five-year increments. It runs in most client/server environments.
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For more information about McCamish Systems, please contact our Sales & Marketing group at Solutions@McCamish.com or call 800.366.0819.
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