Transamerica Life Insurance deploys SeeBeyond platform
20 April 2004 | 888 views | 0
SeeBeyond (Nasdaq:SBYN), provider of the world's first fully integrated platform for the development and deployment of composite applications, today announced selection by Transamerica Life Insurance Company, member of the AEGON Group of companies.
Through process-driven integration and automation, the SeeBeyond Integrated Composite Application Network (ICAN) Suite 5.0 will enable Transamerica to expand and optimize its distribution channels, lower processing costs per transaction and customer, create market differentiation and brand awareness, and acquire new customers by developing customer-centric solution strategies to improve satisfaction, loyalty and profitability.
With the insurance industry quickly being reshaped by the deregulation of the financial services market, increasing market consolidation & product commoditization, and the introduction of Internet technology for supporting agent and customer interactions, legacy information systems are being strained and are proving unequal to the task of remaining responsive to the changing competitive environment.
In order to increase their competitive edge, financial service providers like Transamerica must move quickly to streamline their technology infrastructures to lower operating costs while improving the quality of customer and agent service.
"Developing a responsive technology infrastructure is becoming increasingly critical to the success of our business units. As new programs are developed at the local business unit level and considered for roll-out across the organization, we require systems that allow us to evolve quickly and effectively with a minimum of disruption for our agents," said Gwen Kluber, CIO, Financial Markets Group (FMG), a division of Transamerica Life Insurance Company. "The SeeBeyond solution was the only platform we felt gave us the flexibility we needed with the total cost of ownership we felt we could support. And its commitment to partnership and to our success was clear throughout the entire selection process."
The SeeBeyond ICAN Suite 5.0 is an open, standards based solution with a distributed architecture making it the most usable, scalable, and portable platform for developing, executing, and managing end-to-end business processes as composite applications. This flexibility makes it the most appropriate and effective solution available to large and geographically diverse organizations like Transamerica.
"The SeeBeyond ICAN Suite 5.0 was developed to leverage existing investments in technology while providing competitive advantage through increased flexibility and responsiveness. We are extremely proud to have been selected by Transamerica and we look forward to working closely with the AEGON team to create added value across the organization," said Carv Moore, president and COO of SeeBeyond.