Systems Forum Update

By Ara C. Trembly

May 25, 2006 at 01:26 PM

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Several new and updated software development tools emerged at the 2006 ACORD LOMA Insurance Systems Forum.

The Chicago-based U.S. arm of Prima Solutions S.A., Paris, has announced the release of Prima IBCS 4.3, the new version of the company's Reference Insurance Model.

Insurers and reinsurers can use the template-based product to develop their own insurance business applications.

The new version comes with a code generation toolset based on MIA-Software. The product also comes with hundreds for software elements from ACORD, Pearl River, N.Y., according to Prima Solutions.

Pricing begins at $125,000, the company says.

Another company, Pegasystems Inc., Cambridge, Mass., says it is preparing to release the Insurance Industry Framework, a product based on IBM Insurance Application Architecture and ACORD XML standards that can help insurers re-use existing processes and rules.

The product can be used to develop systems for acquiring and retaining business, claims management, and product management, Pegasys says.

The cost is $500 to $3,000 per user license, a company representative says.

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