What does CLOAS do?
CLOAS is a CICS-based application designed for life insurance administration. It handles policy management, claims processing, and other administrative tasks related to life insurance policies. It is a system designed to manage the lifecycle of life insurance policies.
Is this a system, application, or tool?
CLOAS is a comprehensive application designed to manage life insurance policies. It is not a toolset or middleware, but a complete system that provides end-to-end administration of life insurance products. It provides a full suite of functionality for managing life insurance from inception to termination.
What types of organizations used this?
CLOAS was typically used by large insurance companies that required a robust system for managing a high volume of life insurance policies. These organizations often had existing mainframe infrastructure and needed a system that could integrate with their existing environment. Companies with complex policy administration requirements found CLOAS to be a suitable solution.
When should we have considered CLOAS?
Companies would have considered CLOAS when they needed a comprehensive life insurance administration system that could handle a large number of policies and integrate with their existing mainframe environment. It was a good fit for organizations that required a high degree of customization and control over their policy administration processes. Organizations seeking a modern, cloud-based solution would likely not consider CLOAS.
What are the alternatives to CLOAS?
Alternatives to CLOAS include modern policy administration systems such as CyberLife, Wealth Management Accelerator, Ingenium, SAP for Insurance, and FINEOS Claims. These systems offer more modern architectures, cloud deployment options, and often provide more flexible integration capabilities. These alternatives provide similar functionality but with updated technology and deployment models.