IBM Unveils New Software for Insurance, Banking, Financial Markets Industries

February 2, 2004

IBM has developed new middleware software designed specifically for the banking, financial markets and insurance industry. The new software solutions will be complemented by services and support from IBM as well as industry-specific applications software from thousands of independent software vendors (ISVs) around the world.

IBM has developed five new insurance offerings, including Integrated Claims Management, Integrated Underwriting, Policy Management, Channel Distribution Integration and Insurance Customer Insight. According to IBM, insurers using the new Insurance Integrated Claims Management solution will be able to increase both the efficiency and effectiveness of their claims organization.

Additionally, IBM launched five new solutions for financial markets: Risk and Compliance, Front Office Insight, Trade and Order Management, Financial Information Interchange and Post-Execution Integration. IBM’s new Risk and Compliance middleware solution features include data retention, financial publishing and operational risk management.

IBM also announced solutions for the banking industry. Features include wholesale payments processing, branch transformation, core systems transformation, channel empowerment and risk & compliance.

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