TORONTO, Feb. 17 /PRNewswire/ -- SOLCORP, a leading provider of software solutions to the life insurance and financial industries and a subsidiary of EDS (NYSE: EDS), announced today the signing of an exclusive rights and option agreement with Winsoft Software. Winsoft develops the WealthServ - IDEX electronic data exchange service for insurance carriers and their distribution channels, and the WealthServ - RepVisor wealth management system.
Under a multi-year renewable agreement, SOLCORP will host and fully service both the WealthServ insurance and WealthServ - RepVisor application suites through its parent company EDS. In return, Winsoft will grant exclusive global reseller rights to SOLCORP for the complete WealthServ software suite, and will also provide SOLCORP with development capabilities to help build strategic new integrated components for SOLCORP's suite of solution offerings.
"Winsoft's innovative applications will enable SOLCORP's clients to implement new, innovative solutions for working with their distribution channels and customers," said Mark Cline, sanior vice president, general manager, North America at SOLCORP. "Furthermore, the ability to leverage Winsoft's development capabilities will enable SOLCORP to more rapidly bring to market additional new solutions for carriers in the insurance, mutual fund, and wealth management industries."
WealthServ Insurance components facilitate complete broker and managing general agent (MGA) back office operations, as well as client service and secure electronic interaction between insurers and their distribution networks, and between insurance brokers and their clients. This interaction simplifies routine broker client care tasks through centralized business processing, tracking and reporting. WealthServ - RepVisor is a modern wealth management system supporting back office and retail functionality for mutual fund, investment and deposit products. Both the insurance and wealth solutions are able to consolidate reporting of all financial instrumejts, and facilitate unified financial planning for investment advisors and their customers.
"We are delighted to work with SOLCORP and EDS to host and develop strategic distribution channel solutions for the insurance and financial industry," said Mehmet Baltacioglu, president and CEO of Winsoft. "Together, SOLCORP, EDS, and the WealthServ suite of software products enable a unique combination of functionality, technology, support and service to help meet the growing demand for end-to-end processing in the industry."