CyberLife®: Life & Annuity Software
Administer life and annuity products cost-effectively.
CyberLife® is a Web-enabled, n-tiered system that provides cost-effective administration of life and annuity products. CyberLife is a complete software solution that provides functionality from new business through claim processing including product definition, new business/underwriting, administration, billing and collection, distribution management, correspondence and reporting. Real-time processing and 24x7 access to information enables excellent customer service. The CyberLife system supports the industry's broadest spectrum of life insurance and annuity products and product features, from traditional to innovative non-traditional products.
CyberLife’s Product Definition Component (Product Accelerator) allows product rules and calculations to be quickly and easily defined without the aid of a programmer. The business expert can quickly implement new products within the CyberLife system with a single point of data definition. Product Accelerator also offers a calculation and rules engine, which is designed to significantly reduce time to market, product development and maintenance costs. Product Accelerator can also export product definition data as well as calculations, enabling definitions and calculations to be shared with other systems, enabling re-use versus having to code the same calculation multiple times.
CyberLife provides client-centric support encompassing the administration of new business and ongoing contract administration. CyberLife covers everything from display and quotation of contract information and values to online contract changes and transaction processing in a 24x7 environment. It is a real-time, comprehensive seamless administration system that will lower your administration costs and improve your ability to provide superior customer service.
CyberLife provides comprehensive support for insurance and annuity regulations such as TEFRA/DEFRA and TAMRA and Requirement Minimum Distributions. These functions are monitored for periodic changes and the system is updated on a regular schedule to comply with new requirements.
Billing and Collection
CyberLife supports the billing and collection of premium payments and loans in both online and batch modes. All standard forms of billing are supported including direct pay, list billing, EFT and credit card. Billing may be designated for a multitude of frequencies. CyberLife also supports online real-time list bill reconciliation.
Gain Insight with Business Analytics
CSC's policy administration systems include Business Analytics, our best-in-class business intelligence and reporting software with interactive dashboards. Business Analytics helps you unlock complex data from multiple systems and use it to predict changes, track key metrics, and make better-informed decisions.
Financial and Statutory Reporting
Complete valuation, reserves released and policy exhibit reporting is available for all product lines. Values are calculated as of the reporting date, giving you flexibility to generate your reports on any calendar basis.
CyberLife can accept data from other systems in standard ACORD XMLife standards. Also, data produced by the CyberLife system can be produced in both XML formats and proprietary formats for use by downstream systems. CyberLife can be implemented as an enterprise solution, comprised of modules and components that may be interfaced with existing technology, or as individual components to automate specific business functions.