New Profit Life & Pension Version 3.3. Featuring Savings Management by Multiple Taxation Classes

August 29, 2005

Helsinki (Finland), Profit Software unveils today a new 3.3 version of its modern J2EE solution, supporting policy-life-cycle-long savings accumulation into multiple taxation classes or other business categories. This unique feature makes it easy to support ever-changing pension laws.

The Profit Life & Pension, company's flagship product is a single platform solution, based on software components that contain embedded insurance industry knowledge on individual life insurance, group life insurance, pensions and investment products.

The solution enables insurance companies to run their life & pension business in various countries with single software only. The ready-made solution utilises quick localisation features, including multi-language, multi-currency, taxation and reporting capabilities.

Profit Life & Pension's two-step development process and localization packages enable easy corporate-centric insurance product creation combined with cost-effective production. Corporate product development defines model products & processes implementing given business goals; company product development adjusts product contents to match local rules & market competition; production in one place reduces cost-load of each individual company, and as a side-effect guarantees corporate standards matching service availability & security.

Profit Life & Pension provides a high degree of flexibility for launching new products across multiple distribution channels while maintaining a high level of vendor independence. Being able to provide the best, web-enabled sales tools is a high priority on management's agenda. "With this new version we are able to proof and concretise our vision of smart cost savings and business development. The new version also sets a completely new landscape for well-functioning service centre and asp concepts across multiple countries" - underlines Pekka Lemettinen, Executive Vice President of Profit Software.

The version 3.3 is commercially available in September 2005.

Contact Profit Software:

International:
Pekka Lemettinen
Executive Vice President, Marketing and Sales
Tel. +358 40 5035411

Finland:
Sami Toivoniemi
Executive Vice President, Sales Finland
Tel. +358 40 7568765