CyberLife COMPREHENSIVE SUPPORT FOR LIFE AND ANNUITY PRODUCTS

CyberLife COMPREHENSIVE SUPPORT FOR LIFE AND ANNUITY PRODUCTS

CyberLife A flexible platform to meet your strategic goals. Today s Challenges Financial service institutions are facing increasing demands. Customers are becoming highly sophisticated and are demanding more flexible product offerings. The need to deliver new, innovative products quickly is growing, while IT professionals are pressured to reduce costs. The popularity of and easy access to the Internet have raised the bar on the level of service expected by policy owners and intermediaries. Failure to meet expectations can lead to reduced sales and even lost business. Comprehensive Support for Life and Annuity Products CyberLife gives organizations a competitive edge by reducing costs, improving productivity and accelerating the speed to market for new products. CyberLife is a comprehensive solution that supports the issue and administration of life insurance and annuity products. Employing a Web browserbased user interface, ACORD XML industry standards and an open, n-tiered architecture, CyberLife enhances customer service through real-time processing and round-the-clock access to information. CyberLife automates processing of individual life, annuity and health products from application processing through death claim or final payout of the contract. Diverse Product Support CyberLife provides cost-effective support for both traditional and non-traditional products in a single system. Its diverse product support includes: Non-Traditional Life Products Universal Life Variable Universal Life Survivorship UL and VUL Joint Life Indexed Universal Life Interest-Sensitive Whole Life Annuity Products Fixed Annuities Variable Annuities Equity-Indexed Annuities Market Value Adjusted Annuities Traditional Products Level, Increasing and Decreasing Term Participating and Non-Participating Whole Life Endowment and Retirement Income Indeterminate Premium Whole Life and Term Target Death Benefit Whole Life Single Premium Whole Life Joint Life Accident and Health Disability Income Long Term Care Riders and Benefits Waiver of Premium Waiver of Specified Premium Accidental Death Benefit Guaranteed Insurability Term Insurance Riders Children s Term Spouse and Family Riders Cost of Living Adjustment Long-Term Care Rider Accelerated Benefit Rider

Complete Solution CyberLife automates processing of individual life, annuity and health products from application processing through death claim or final payout of the contract. CyberLife can be implemented as a complete enterprise solution or as individual components used to automate specific business functions. CyberLife s architecture uses industry standards and provides a flexible and open infrastructure that can be easily extended to accommodate specific business needs. Product Definition With CyberLife, products are defined quickly and easily by business experts without the need for programming support. Business experts have the freedom to create, maintain and share product definitions, rules and calculations across system components and platforms. Plans, products and subcomponents can be cloned and changed to facilitate rapid product development. CyberLife s product definition tool provides a single, easy-to-use interface and a relational repository for plan rules and rates. New product definitions (rules and rates) are deployed in real time to a test system to facilitate immediate testing opportunities. Features include: Product definition at a business level Single user interface Business model and product definition contained within a relational repository Flexibility to build products with unique features Ability to import rates from Excel Built-in security features Real-time deployment. Today s markets demand the flexibility to create new products with unique features and calculations. CyberLife s calculation and rules engine provides product flexibility by enabling business experts to easily define new externalized calculations and rules. Using a click-and-drag approach and Excel-type language, calculations and rules can be developed by a business expert. Built-in testing functions give the business expert numerous opportunities to test the calculations and rules during the development phase. Full documentation of the calculations and rules is automatically provided. These externalized calculations and rules may be deployed to CyberLife as well as other systems on virtually any platform. Calculations can be shared across new business, administration, contract pages and illustrations providing consistency and reducing redundancy. CyberLife s calculation and rules engine: Puts the power to modify in the hands of business experts Enables development of reusable calculations and rules Reduces costs of modifications Provides options for flexible product design Produces complete documentation. Client Processing CyberLife is a fully integrated relational online, real-time client information system. Client information such as names, addresses, relationships with other clients, various roles with contracts, demographics and more are stored in this relational database. Changes to the client information are made only once and automatically update one or multiple pending and inforce contracts. New Business CyberLife supports business processes required to issue traditional and non-traditional life, health and annuity contracts. The easy-to-use browser views speed data entry and reduce errors. From application processing to contract issue, CyberLife provides flexible table-driven options and real-time processing to shorten the issue process. Features include: Multi-company support Browser-based user interface Real-time validation Inclusive real-time compliance testing Table-driven automatic requirement determination Automated MIB interface Full tracking of underwriting, issue and delivery requirements Cash with application processing Standard and sub-standard issue Integrated correspondence XML print output. Contract Administration CyberLife has a comprehensive, real-time administration system that will lower your costs and drastically improve your ability to provide superior customer service. CyberLife provides full processing support for both traditional and non-traditional products in a single system from accurate display and quotation of contract information and values to online contract changes and transaction processing in a 24x7 environment.

CyberLife s intuitive browser-based user interface guides processors through business functions. Complete In-Force Processing CyberLife s administration of in-force contracts provides a full range of financial and maintenance functions. Users select the desired function from the business function menu. Edits and updates occur immediately, in real time. Your professionals can process business functions and immediately review updated results. Reversal processing is as easy as a click of the mouse, and CyberLife will automatically perform the required reversal processing. Inquiries, processing time and error reconciliation can be drastically reduced using CyberLife s advanced features: Immediate view and update of client information Online current and complete contract financial history Up-to-the-second value quotes Payment processing for all product types Flexible loan and surrender options Billing maintenance Coverage updates including increases, decreases, option changes Dividend processing Automatic and requested non-forfeiture processing One-step reinstatement processing Death claim processing Undo/redo processing for interest rates and unit values Equity and fixed fund processing with a variety of investment options Fund exchanges Automated dollar cost averaging, asset reallocation and scheduled periodic withdrawals Automated complex change processing Requested and automatic correspondence, confirmations and statements. Compliance CyberLife provides comprehensive support for insurance and annuity regulations. These functions are monitored for ongoing changes and the system is updated on a regular schedule to comply with new requirements. Examples of CyberLife s integrated support include: TEFRA/DEFRA calculations and editing TAMRA calculations and editing with full MEC support Cost basis calculations with automatic calculation of taxable events and values Federal and state withholding Tax Shelter Annuity support (403B) Roth IRAs Support of a variety of types of qualified annuities Required Minimum Distributions (RMD) IRS tax calculations for Forms 1099 and 5498. 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 bill, electronic funds transfer (EFT) and credit card. Billing may be designated for a multitude of frequencies. For list bill contracts, CyberLife s group file provides a repository and processing center for group information such as names and relationships, plan definitions and rules, and billing related information. List bill reconciliation is made easy with CyberLife s reconciliation database and mass transaction processing. When payments are reconciled and BUSINESS submitted, CyberLife applies BENEFITS the payments to the Ease of use contracts real time. Any Reduced training errors encountered during Improved accuracy the application of the Superior customer service payments are returned to the Real-time processing reconciliation database for Robust validation ease of viewing and Integrated processing correction. Rapid contract issuance

CyberLife s billing and collection features include: Billing of both fixed and flexible premium contracts Combined billing for all product types Flexible options for reminder notices Support for both standard and special frequency billing Support for lock-box EFT from both checking and savings accounts Credit card billing Automated return item processing Time-saving list bill reconciliation processing. Integrated Correspondence CyberLife provides both on-demand and event-driven automatic correspondence. Event-driven correspondence is table-driven, providing flexibility in automating timeconsuming correspondence generation. Full user interface management of the templates used for the correspondence documents is provided via customized Microsoft Word menu items. For on-demand documents, the completed document may be previewed prior to printing Financial and Statutory Reporting CyberLife provides complete valuation, reserves released and policy exhibit reporting. Values are calculated as of the reporting date, giving you flexibility to generate your reports on any calendar basis. All files are processed according to NAIC model regulations commonly known as Guideline XXX. Additional support also includes: Federal Income Tax (FIT) processing FASB97 reporting for non-traditional products CRVM/CARVM. Distribution Management CyberLife provides accurate Reduced integration costs and detailed producer Elimination of down time management and Customer service support commission processing. across time zones Producer information can be created, maintained and displayed including personal data, contract information, licensing data, financial balances and much more. Commissions are calculated for earned commissions, split and trail commissions, advances, annualizations, chargebacks and recovery of advances. Statements and disbursement extracts are produced for all traditional and non-traditional products processed by CyberLife. Technology Architecture CYBERLIFE TECHNOLOGY BENEFITS Flexible, easily maintained Browser-based Scalable Anytime, anywhere access Reduced cost of ownership Utilization of industry standards CyberLife employs an open architecture utilizing industry standards. The CyberLife enterprise architecture is an n-tier J2EE conformant design featuring separation of the presentation, application integration and business services tiers.

The tiers within the enterprise are loosely coupled providing a flexible and open infrastructure which can be easily extended to accommodate specific business needs. Architectural features include: Browser-based user interface Views based on ACORD TXLife standards Middleware component providing Configurable security Business rules and services Data transformation Business services providing robust 24x7 processing Continuous operation for both inquiry and update XML-based extracts Integrated calculation and rules engine CSC e4 CyberLife complements CSC e4 SM, a proven, serviceoriented architecture that defines, enables and manages the open exchange of information between systems, across enterprises and among partners in a value chain. CSC e4 integrates Web technology, legacy systems and commercial software components with a business process management (BPM) engine, connected by adapters to middleware services. These adapters expose business services to business analysts, software engineers and end users who can collectively redesign processes in the same environment, using a graphical notation. This approach takes IT off the critical path, allowing business processes to be tuned or amended with minimal changes to the base code. CyberLife s open architecture separates the presentation, application integration and business services tiers, allowing companies to easily extend the system to meet business needs. The Bottom Line CyberLife is a comprehensive solution with browser-based design, extensible operability and robust 24X7 insurance and annuity processing that enhances your customer service, lowers your total cost of ownership and accelerates product introduction. CyberLife is a scalable solution capable of handling high volumes of transactions and policies. It is the perfect solution for large companies with a large contract base as well as midrange companies looking to expand and enhance their product lines. For more information about CyberLife, call 800.345.7672 or send an e-mail to inforequests@csc.com and refer to Brochure No. 593.

CSC s Focus on Life and Annuities As a global provider of consulting, outsourcing, systems integration and application software, CSC s Financial Services Group is uniquely positioned to produce real results for life insurance and annuity companies. Application Software CSC offers solutions for the entire enterprise, from contract issuance to the final payment of the claim. CSC s array of solutions includes: Policy/Contract Administration New Business/Underwriting Automated Work Management Distribution/Incentive Compensation Management Enterprise Architecture Rapid Product Development and Introduction Repetitive Payments Automated Data Trading. Outsourcing Services CSC s knowledge and expertise can help you enter new markets economically, expand existing product lines or outsource blocks of business to free up existing resources. Our industry-savvy professionals provide unparalleled service including: Business Process Outsourcing Information Technology Outsourcing New Product Launches. Consulting & Professional Services CSC systems and solutions are supported by an array of professional services. To ensure your success, we employ the latest approaches and methodologies for project management, consulting and training. We treat your business as if it were our own. CSC consulting and professional services include: Enterprise Transformation Conversion Services Implementation Support Security Internet Strategies Systems Integration Customer Relationship Management Change Management Mergers & Acquisitions.

Computer Sciences Corporation Financial Services Group Suite #100 200 W. Cesar Chavez Austin, Texas 78701 +1.512.345.5700 +1.800.345.7672 Worldwide CSC Headquarters The Americas 2100 East Grand Avenue El Segundo, California 90245 United States +1.310.615.0311 Europe, Middle East, Africa Royal Pavillion Wellesley Road Aldershot, Hampshire GU11 1PZ United Kingdom +44(0).1252.534000 Australia/New Zealand 26 Talavera Road Macquarie Park, NSW 2113 Australia +61(0)2.9034.3000 Asia/Pacific 139 Cecil Street #08-00 Cecil House Singapore 069539 Republic of Singapore +65.6221.9095 About CSC Computer Sciences Corporation, one of the world s leading consulting and IT services firms, helps clients in industry and government achieve strategic and operational results through the use of technology. The company s success is based on its culture of working collaboratively with clients to develop innovative technology strategies and solutions that address specific business challenges. Having guided clients through every major wave of change in information technology since 1959, CSC combines the newest technologies with its capabilities in consulting, systems design and integration, IT and business process outsourcing, applications software, and Web and application hosting to meet the individual needs of global corporations and organizations. About CSC in Financial Services CSC distinguishes itself through its time-tested ability to plan, build and operate highly reliable, efficient and secure business and IT solutions for leading financial services firms around the world. To complement its capabilities in consulting, systems integration and outsourcing, CSC brings financial services industry knowledge and experience, a comprehensive portfolio of financial services application software and an extensive network of industry and technology partners. More than 10,000 CSC employees are dedicated to serving financial services clients, which include more than 1,200 major banks, insurers and investment management and securities firms. www.csc.com Copyright 2004 Computer Sciences Corporation. All rights reserved. Printed in USA 59304500