Tokyo-based Medicare Life Insurance has implemented CSC’s visual product modeling system (VP/MS) to design and enhance its new insurance products.
VP/MS enables the definition of product rules and calculations and assists in best practice insurance product management, including the reuse of product components.
Medicare Life System Planning Department general manager Shinya Okumura said the company has been working to develop new insurance products in response to its customers’ needs in light of the changing Japanese insurance market in addition to providing fast, courteous and specific services.
The software also allows the user to configure product rules and calculations and allows rapid time to market for insurance products by enhancing the efficiency of the product development process.
CSC vice president and Japan country representative Mike Strzepek said most carriers have been under pressure to release new products to the market quickly, employing more effective product development processes in order to achieve growth and competitiveness in this dynamic market.
"CSC is confident that VP/MS will give Medicare Life a flexible and robust product development environment, ensuring a shorter time to market in support of their growth initiatives," Strzepek added.