EDS SOLCORP has introduced version 7.0 of INGENIUM, the company's Web-services-enabled policy life-cycle administration system for the life insurance industry. INGENIUM scales to high-volume environments, supplying processing for an extensive range of life and investment offerings. Through its PathFinder browser interface, INGENIUM enables the monitoring of business activity, providing opportunities for business process improvement and rapid return on investment. With this latest release, insurers now have support and tools for managing tax and regulatory requirements.

"Insurers are challenged by changes in taxation and regulatory legislation on both sides of the border," says Roger Paehr, product manager, policy administration systems, for EDS SOLCORP. "By componentizing the tax-specific logic, INGENIUM now makes it easier for insurers to make any modifications to the system necessitated by changing requirements."

In addition to more than 150 enhancements, changes, and modifications to the system, INGENIUM 7.0 also features enhancements to the existing exempt status management functionality to allow insurers to configure the strategies required to keep a policy categorized as a life insurance contract.