CIMdata PLM Industry Summary Online Archive
1 May 2007
Product News
IBM and Camilion Team Up to Deliver Product Lifecycle Management Solutions to Insurers
IBM Global Business Services and Camilion Solutions , a leading provider of Product Development Solutions and Policy Administration Systems to the insurance industry, announced an agreement whereby IBM is now a reseller for Camilion's flagship software solution, ProductAuthorityT. IBM, which is the largest provider of IT solutions to the global insurance industry, supporting more than a billion transactions a day, will also resell Camilion services and training.
Industry experts predict that customized, niche products in life, health and property are the next phase in insurance. Capitalizing on that trend will require dynamic product lifecycle models designed to quickly take advantage of fluctuating market and customer demands, as well as information systems and data to help identify, predict and manage to those demands.
The world's only "pure" insurance product configurator, ProductAuthority provides IBM with the crucial product development component for their enterprise Insurance Product Lifecycle Management (PLM) solution. IBM will provide the integration expertise, the business knowledge required around data and analytics, and the hardware and software platform to optimize speed to market and performance. This end-to-end PLM solution will enable customer-driven product development and allow business users to better manage product information and make it consistent throughout the enterprise. In addition, insurers will realize significant process improvement and costs related to product development, distribution and customer service would be dramatically reduced.
"Camilion's partnership with IBM gives both our organizations the unique ability and experience to facilitate a critical business transformation for our mutual customers," said Ross Orrett, President and CEO of Camilion. "Built to capitalize on a Services-Oriented Architecture (SOA), ProductAuthority will easily integrate with key data and analytics solutions that IBM will provide, as well as next-generation Policy Administration Systems, to enable insurers to meet their future product development requirements."
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