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Tech Directory Product Detail

    OAS/VAS(TM) Variable Annuity System


    Product Description:
    N-tier Client/Server Variable Annuity Administration System. Complete administration of variable annuity products. Including GUI Forms, all General and Separate Accounting, Undo/Redo processing, Asset Reallocation, Dollar Cost Averaging, Interest Sweep, Required Minimum Distribution, Scheduled Partial Withdrawals, Allocation History, Financial and Non-financial History, Ad hoc Reporting and many more features.
     
    OAS/VAS offers improved technology:
      * True n-Tier Client-Server Architecture
      * Client Choice of Database (such as Sybase 11, Oracle, SQL Server)
      * Windows NT Server (runs with Windows 95/98 or NT workstations)
      * Database Server can be either Windows NT or Unix
      * Year-2000 Compliant

    OAS/VAS offers a user-friendly environment:
      * GUI Interface uses drop-down calendars, list-boxes, checkboxes, and buttons
         to readily access information and improve overall productivity
      * Menu-Driven System uses pull-down menus and graphical 'forms'/'tabs' to
         navigate overall system
      * Online Help System available

    OAS/VAS offers Complete Variable Annuity Administration Functionality:
    Use the Policy Set Up Function to:
      * Automatically Assign Policy Numbers
      * Assign Owners, Co-Owners, Annuitants, Co-Annuitants, Multiple
         Beneficiaries, Third Parties, and Multiple Agents and Commission Options
      * Enter Initial Premium Payment information (including Estimated Payments with
         Advanced Commission Processing)
      * Allocate Initial Premium Amount among Multiple Fixed Accounts and Investment Divisions
      * Issue Contracts
      * Centralized Name and Address storage maintains name and address information
         in one central location and automatically updates all name and address information
         associated with a specific Tax ID number throughout the system
      * Fund Listing
      * Automatic Asset Reallocation Processing
      * Dollar Cost Averaging Processing allows for multiple types: DCA, advanced DCA (allows
         higherinterest earning on fixed accounts)
      * Interest Sweep Option Processing
      * Periodic Partial Withdrawal Processing
      * Required Minimum Distribution Processing
      * Additional Premium Payment Processing
      * Transfer Processing (One-Time and Scheduled)
      * Online Quoting for Accumulation Value, Surrender Value, Partial Withdrawal
         and Death Claims
      * Disbursement Processing for Partial Withdrawal, Death Payout, PPW, RMD
      * Full Surrender Processing
      * Loan Processing
      * Premium and Distribution Suspense Processing
      * Forms/Letters Generation (Statements, Kits, etc.)
      * AUV/Interest Rate Maintenance
      * Agent Maintenance: Commission Option Assignments, Agent Financial History Records
         and Commission Data Storage
      * Support Table Maintenance for actuarial data (product, plan, percent, factor)
      * System Security, and Administration Functions

    OAS/VAS offers superior accounting functionality:
      * Billing Function: Includes Check-O-Matic and Group List Bills
      * Undo/Redo Function: OAS/VAS stores a history of allocations
         enabling the user to refer back to past allocation alternatives on a specific contract
      * Commission Processing: Includes Advance, Net and Asset Based Trail Commissions
      * Interface to external management systems
      * General Accounting, Separate Accounting, and Accounting for Breakage
      * Up to 99 Investment Funds Allocations per Contract
      * Online, Real-time processing: OAS/VAS processes backdated transactions and
         corrections in an online, real-time mode allowing users to see immediate recalculations
      * Reporting Available Online
      * Financial and Non-Financial History Recording