McCamish Systems Announces New Major Systems Enhancements To VPAS® Life

The new Release 3.1 of VPAS® Life enhances policy administration capabilities in support of expanded markets

ATLANTA--(BUSINESS WIRE)--April 8, 2002--VPAS® Life, Release 3.1, extends the benefits of rapid product deployment, flexible business object development and technological superiority to the retail marketplace. Release 3.1 of VPAS® Life builds upon the success of last fall's Release 3.0, which for the first time combined the processing necessary to handle the rigorous requirements of the retail market with the diverse requirements of the executive benefit and affluent market. With a single system, insurers can now administer products across all markets, from the simplest retail (individual) annuity product to the most complex private placement life insurance product to large corporate cases.

"We believe that VPAS® Life now has the broadest market support of any administration application available today and that no one is better positioned to help insurers grow their asset base than McCamish Systems," said Gordon Beckham, President and Chief Executive Officer.

Built on a client/server, relational database platform, VPAS® Life not only provides a substantially faster and less expensive path for product development, but also incorporates substantial functionality advancements

Markets supported:

• Retail/Individual
• Survivorship
• Private Placement
• Corporate Owned
• Bank Owned
• Group
• Employer Sponsored

Products supported:

• Fixed and variable universal life
• Fixed and variable annuities
• Qualified annuities
• Term life
• Enhanced web access for brokers, agents, owners and policyholders such as:

  - Policy values
  - Transaction history
  - Ad hoc reporting
  

Enhanced processing functionality:

• Systematic withdrawal processing
• Additional surrender processing options
• MEC and non-MEC processing
• Expanded loan processing options
  

Currently doing business with six of the top ten life insurers in the United States, McCamish Systems has on numerous occasions proven the effectiveness of their capabilities with the rapid deployment of complex products. McCamish's Value Engineering product development process enables implementation of complex variable products with little or no custom modifications. Value Engineering is an attractive option for companies whose traditional product deployment cycle has grown too long and/or too expensive. McCamish can often implement VPAS® Life and a brand new product for less time and money than would be expended on modifications to existing administration system platforms.

McCamish Systems, L.L.C.

McCamish Systems' VPAS® (Variable Product Administration Systems) product family includes VPAS® Life and VPAS® Benefit Plan Administration as client/server based, relational database systems, which are scalable, feature rich and flexible enough to be customized to suit unique client requirements. McCamish provides its solutions in BPO (Business Process Outsourcing), Remote or License environments.

VPAS® Life supports administration of variable and fixed annuities, variable and fixed universal life, private placement products, and corporate- and bank-owned life insurance programs (COLI and BOLI). VPAS® Benefit Plan Administration provides record keeping capabilities for SERP, Split Dollar and other non-qualified benefit plans. All VPAS® products are Internet enabled, so that clients, sponsors, brokers, agents and participants have access to policy and plan information.

McCamish Systems is a privately held company based in Atlanta, Georgia.

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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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