Introducing Zeus

Date: 14 February 2005	Issue: 14 Feb (Computing S.A.)
Category: SA News	Computing SA Exclusive

Durban-based software development and solutions provider, 2Cana Solutions, and life insurance company, Medscheme Life, have jointly developed what the two say is a fully integrated life insurance administration system. The product is dubbed Zeus after the supreme Greek god - the protector of the Olympians.
“We selected 2Cana Solutions as a business partner largely for its impressive track record as an Oracle certified partner, and its experience in the financial services industry,” says Willem Smith, financial director at Medscheme Life.
The development team identified that existing administration systems do not deliver customer-focused solutions. They are too dissimilar, and do not offer a single view of a client’s life insurance portfolio.
“Most traditional systems on the market today are only policy-based and have disparate client information, but Zeus provides a single integrated view of the entire profile of a client, and then allows the user to drill down to individual policies,” says Smith.
“This client-centric design is a key selling point of Zeus, as it eases administration. It also allows us to see a client’s risk profile, current cover and to determine additional cover suited to the client at a glance,” he adds. He notes that most existing systems fall short in broker management, an issue that was addressed by the Zeus development team.
“Brokers - being the lifeblood of the insurance industry - need to be given the best possible service, with rapid payment high on the list of priorities. Zeus has accomplished this, and brokers can expect payment within 24 hours of a policy being approved. Zeus also caters for multiple commission payment models to suit brokers’ individual preferences,” says Smith.
2Cana Solutions’ Vischal Pursan, project leader for Zeus, says a third component that differentiates the administration system from rival ones is its rapid ‘time-to-market’ for the introduction of new products.
“For most insurers, the introduction of a new product can be a lengthy and costly exercise, often involving IT system changes. By the time the software is developed there is a strong chance that the competitive edge is lost. Zeus’ flexible parameterised design allows users to define new products or combinations of benefits without changing the software or any IT intervention,” he adds.
Says Charles Cowan, business development manager at 2Cana Solutions: “We host the administration system at our Durban data centre. This is transparent to the users in Johannesburg. By utilising existing infrastructure we have enabled further cost reduction in maintenance and operational costs.”
Encrypted interfaces to financial institutions - including banks and the government’s Persal payroll - ensure quick turnaround times, while a built-in workflow and document management system developed by 2Cana Solutions streamlines business processes and improves management system information.
Cowan points out that Zeus is an end-to-end Oracle technology-based solution developed with Oracle’s Internet Developer Suite. “Zeus runs on Oracle Standard or Enterprise edition database. Oracle Application Server provides the middle tier, Business Intelligence tools, enterprise portal and more,” says Cowan.
Smith adds that: “Our engagement with 2Cana Solutions is based on a shared risk model. This has helped to form a true business partnership, and has been cost-effective for a growing company. Zeus’ combination of features and the shared risk model have enabled us to achieve a return on investment exceeding our expectations.”
Zeus has been in use at Medscheme Life since 2001, and has matured to the point where it is now being marketed to the industry.