Many organizations have greeted the 2006 ACORD LOMA Insurance Systems Forum by releasing new and improved products.
ACORD, Pearl River, N.Y., used the Las Vegas event to show off a preliminary version of its Single Business Data/Information Dictionary, the first component of its ACORD Standards Framework.
The dictionary contains more than 10,000 identified business terms, definitions and mappings, according to ACORD.
ACORD hopes to release what it describes as a “full harmonized dictionary” for review by ACORD members by Sept. 30.
In other technology product news:
- MajescoMastek, Edison, N.J., a unit of Mastek Ltd., Mumbai, India, has introduced Elixir 2006, a service-oriented architecture system designed for life insurance and annuity companies.
The product, which incorporates ACORD technology standards, uses Web services technologies to help insurers connect many different applications, MajescoMastek says.
The system comes with components that can support point-of-sale distribution, channel portal, channel compensation and claims-processing applications, the company says.
- EDS SolCorp, Toronto, rolled out Radience: Retirement, a new extension of the Radience: Administration system that can help insurers manage many different types of annuities, such as fixed-interest accumulation annuities that provide guaranteed lock-in type interest options and equity-indexed annuities that come with several index choices.
EDS SolCorp is a unit of Electronic Data Systems Corp., Plano, Texas.