VP/MS

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"VPMS" redirects here. For other uses, see VPMS (disambiguation).
VP/MS
Original author(s) CSC
Initial release 1997
License corporate and individually negotiated
Website www.csc.com

VP/MS (Visual Product Modeling System) is a family of software components developed by CSC that support product development and product lifecycle management.[1] Insurance companies (among other users in business and IT[2]) use VP/MS to manage the rules, clauses, formulae and calculations associated with savings and both life and non-life insurance products. With VP/MS all calculations and queries for purposes such as quotes and administration are supported by a central repository of product definitions.[1][3]

VP/MS supports processes like product definition and administration, product testing and documentation, design checks, visualization and cross-platform usage of products. In addition to hosting product definitions, VP/MS is a modeling language. It provides a graphical interface (GUI) for creating business rules as components and models.[2]

VP/MS is platform independent[4] – products can be ported to any administration or illustration system or deployed over the internet[5] – and makes use of the Eclipse platform[6] for developing software.

Product server[edit]

VP/MS is a product server[7] – a software tool that hosts all knowledge on insurance and other products centrally and provides it to application systems in various deployment scenarios and across various platforms.

The outcome of a VP/MS-designed model is modular, portable calculation rules.[3][5] VP/MS rendered calculation rules are in turn incorporated with associated applications, such as VP/MS Designer or J-VP/MS, to create (respectively) GUIs or a calculations architecture compatible with existing software architecture.[5]

Systems used by insurance policy administrators, product brokers and web servers ultimately rely on libraries of VP/MS rendered architecture for the production of product illustrations and calculations.[1]

VP/MS users[edit]

Industries[edit]

VP/MS is industry-neutral[1] – it is a generic tool that is not designed to be used exclusively within a specific industry. VP/MS has been deployed within non-insurance applications as a general rules engine. However, since it was developed within an insurance context,[7] VP/MS is applied broadly and extensively in insurance.

Among users of VP/MS are life insurers and providers of pensions,[8] property and casualty insurers[9] and health insurers[10]

Other sectors where VP/MS’s underlying rules management capabilities are applied include banking, energy and utilities.

Design[edit]

VP/MS Workbench is the main environment for modeling in VP/MS.[5] As such, it is used extensively in the back office during the design or maintenance of product rules. Actuaries, financial modelers, business analysts, product specialists and programmers are among those using VP/MS during this phase.[1]

A number of supplementary components support this phase of the product lifecycle. Examples are VP/MS Documentation Suite, VP/MS Test Suite and VP/MS Checker. Product managers use VP/MS Model Manager for an overview, product release and versioning, team collaboration and access control.[3][5] VP/MS Runtime is then responsible for sharing a single instance of a product across various platforms.

Implementation[edit]

After the design phase, VP/MS hosted architecture is supplied to the organization via related applications. For example, IT specialists use VP/MS Designer and J-VP/MS to integrate model libraries with end-user applications.

Multi platform capabilities[edit]

J-VP/MS integrates VP/MS calculation rules into existing software architectures via standard interfaces and technologies such as Java EE, XML-based SOAP, WSDL and Struts.[5]

Summarized history of VP/MS[edit]

1997 – VP/MS is developed by CAF GmbH (a German company) with Generali Austria as the first client. It is originally named Versicherungsprodukt-Modellierungssystem.

1998 – Development of VP/MS Designer.

2001 – CSC takes over ownership and development of VP/MS. Introduction of J-VP/MS and integration of VP/MS into CSC offerings.

2003 – Development of Eclipse-based VP/MS Model Manager.

2005 – Development of Eclipse-based VP/MS Test Suite.

2006 – Development of Eclipse-based VP/MS Documentation Suite.

2008 – Development of Eclipse-based Workbench and VP/MS Checker.

In 2009 there are over 140 companies in 24 countries using VP/MS, e.g. AXA, Generali and UNIQA. A market research source[11] listed the following VP/MS users in the USA in 2008: American National, New York Life, Ohio National and Symetra.

See also[edit]

Notes[edit]

  1. ^ a b c d e "VP/MS Product Flexibility" (PPT). 2007. Retrieved 2009-07-22. 
  2. ^ a b "Making The Case For Centralized Processing" (PDF). James Daggett (Tech Decisions). 2007. Retrieved 2009-07-22. 
  3. ^ a b c "Visual Product Modeling System Brochure" (PDF). 2008. Retrieved 2009-07-22. 
  4. ^ "Model Carrier Component Recognition". Globe Investor. Retrieved 2009-07-22. 
  5. ^ a b c d e f "Visual Product Modeling System (VP/MS)". 2008. Retrieved 2009-07-22. 
  6. ^ "CSC LEF Report on Open Source software". CSC. 2004. Retrieved 2009-07-24. 
  7. ^ a b "Some Patterns for Insurance Systems". Wolfgang Keller. 1997. Retrieved 2009-07-22. 
  8. ^ "Life Annuities and Pensions". CSC. 2008. Retrieved 2009-07-22. 
  9. ^ "Property and Casualty". CSC. 2008. Retrieved 2009-07-22. 
  10. ^ "CSC signs four insurers to VPMS". finextra. 2004. Retrieved 2009-07-22. 
  11. ^ "Novarica list of US companies using VPMS in 2008". 2008. Retrieved 2009-09-07. [dead link]

External links[edit]