For release: 22 May 2006
EDS SOLCORP Adds Retirement To RADIENCE Family
LAS VEGAS, Nevada – EDS SOLCORP today announced the release of RADIENCE: Retirement, the latest in a line of tailored modules built on the RADIENCE: Administration platform. The new offering extends the capabilities of the base solution to help organizations meet their retirement savings and income policy administration needs.
RADIENCE: Retirement is designed to support a variety of accumulation and payout products including:
- Fixed Interest Accumulation Annuities: single and multiple funded contracts with portfolio, guaranteed or annual interest lock-in type interest options, fund sweeps across investment vehicles
- Equity Index Annuities: multiple index choices, participation rates and caps
- Variable Accumulation Annuities: unlimited sub-accounts (including ability to co-mingle all account types within a contract, Living Benefits (GMIB, GMAB & GMWB)
- Fixed Interest and Variable Immediate Annuities: premium/deposit sourcing, emergency withdrawals, commuted values, sub-account reallocation, multiple interest rates and a variety of payment option schemes
RADIENCE is a new multi-product architecture and platform built from the ground up to address the policy administration needs of life insurance and annuity providers. The solutions supports a unified product framework that eliminates traditional product silos, enabling users to easily combine features from life, annuity, health and disability lines into a single policy.
About EDS SOLCORP
EDS SOLCORP, a global business unit within EDS, is a leader in software solutions and services for the life insurance and wealth management industries. For 25 years, EDS SOLCORP solutions have helped customers reduce their total cost of administration, accelerate time-to-market for new products, and streamline their infrastructure.