POMPANO BEACH, Fla., Oct 31, 2003 (PRIMEZONE) -- Insurance industry heavy hitters are beginning to embrace Blue Frog Solutions' standards-based solutions to save time and money throughout various transaction processes.
Merrill Lynch Insurance Group is the latest in a string of blue chip carriers to adopt Blue Frog's ADMServer Framework to streamline sales, distribution and management of annuity product information, further establishing Blue Frog as a market leading software developer.
"We are excited about the opportunity to bring efficient technology solutions to one of the world's leading financial services firms," said Blue Frog CEO Brad Levine.
The ADMServer Framework is a broad-based system designed specifically to handle the needs of life and annuity carrier and distributors. ADMServer is an XML metadata middleware solution based on ACORD XMLife standards that offers data and process management for various transactions within the insurance sales and distribution. The Framework allows easy generation of ACORD based data warehouses and reduces the need to support multiple data feeds with its full scheduling and feed management system that includes error processing and complete administrative rules management.
"The ADMServer Product Profile Administrator will allow us to create and manage a comprehensive suite of product rules and information to more effectively and efficiently manage our proprietary annuity line," said Amy Ferrero, Director of Merrill Lynch Insurance Group Services. "In addition, the XML messaging component lets us exchange product definitions with other systems internally, as well as with external partners."
Merrill Lynch Insurance Group plans to implement the ADMServer Framework beginning with the ADMServer Product Profile Administrator Module for Annuity to manage annuity product information. This module allows product managers to store and manage all product, rider, ownership, fund data and rules in a central database that can be queried for a number of business functions. The product data can then be produced and distributed in the ACORD Product Profile for Annuities XML format.
Specifically, the ADMServer Product Profile Administrator's distribution and communication capability allows carriers to easily configure, manage and automate communications and data transfers to distributors directly and to other business partners, including AnnuityNet's annuity order entry systems. Blue Frog provides ongoing maintenance to the system to ensure the most current ACORD specifications are implemented.
In addition, Blue Frog Solutions offers a number of packaged modules built upon the ADMServer Framework and can quickly build custom databases, data translators, and web services to manage any data interchange or business processing requirement.
About Blue Frog Solutions
Blue Frog Solutions is a leading provider of ACORD middleware software solutions for data transfer, messaging, and transaction processing between life insurance carriers/underwriters and distributors/agents. The ADMServer Suite supports the entire XMLife model. Blue Frog is headquartered in Pompano Beach, Florida and was selected as a 2002 "Tech Company of the Year" by the South Florida Business Journal. For additional information about Blue Frog Solutions, visit its web site at www.bluefrogsolutions.com.
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