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Please any one could u please tell me what is CLOAS life
insurance?its urgent,
thanks advance.
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Answer Posted / brian lord
wiki definition: CLOAS is a software package for use in the
insurance industry. It was originally created by an
Australian company, Computations, and is used by a small
number of companies around the world. The acronym CLOAS
stands for Computations Life Office Administration System.
Answer 1 is not accurate. It is not an accountancy system,
but a Life Assurance administration system.
CLOAS was originally developed in the mid 70’s to handle
traditional Life assurance products, and support to handle
unit-linked products occurred in the mid-80's. The first
customer was Greater Pacific Life (GPL), based in Sydney,
Australia.
Over the past 30 years CLOAS has operated in Australia, New
Zealand, Malaysia, U.S, U.K, Norway and Netherlands.
It is still very active in Australia, used by 3 of the 4
big banks, a few sites still use CLOAS in the U.S, and it’s
still used by a few sites in the U.K.
CLOAS has 2 layers of software, an application layer and a
technical layer (known as control programs).
The application layer has around 2,000 COBOL programs, and
as a summary has components such as new business,
underwriting, statistics, renewal and payments processing,
letter processing, dishonour, lapsing, expiry etc, sub-
ledgers, its own GL (these days data usually extracted to
SAP or Peoplesoft etc), unit linked handling (various
pricing mechanisms, allocation & attribution), commission
processing, traditional business handling (with surrenders,
bonuses, loans, non-forfeiture etc).
The control programs technical layer handles all technical
components, handling all database accesses, run control,
screen api’s, date routines, error handling and transaction
backout etc.
To my knowledge, all standard production versions of CLOAS
run on mainframes on non-relational databases under CICS.
CLOAS has run on TOTAL, IDMS, IMS and ADABAS DBMS’s.
As for Pearl, in 1985 Pearl decided it wanted a system to
handle its main Life portfolio (non Industrial polices) and
that would run under the IDMS DBMS. An IDMS CLOAS version
was built in 1986, the technical software built under my
control in Sydney, when I was the Technical Services
manager at Computations.
From memory Pearl went live with CLOAS in 1988. That was
well before AMP took over in the mid 90’s. I was onsite at
Pearl in Peterborough in early 1989 reviewing run
processing operation.
Unlike many systems, CLOAS was written as a package, so
that it would be highly flexible and adaptable for future
sales, especially as there was a lot of sales activity
during the 1980’s.
There was strong mandate to minimize hard-coding, and
metadata is stored in what are known as control records.
Over the years most sites have customized their CLOAS to
handle their new products, and in many cases built gui
front-ends to run alongside CICS.
Fyi, I am the director of MGB Technology, with 30 years
CLOAS experience, with extensive CLOAS development and
consulting experience.
MGB is contracted to run the CLOAS operation of one of the
big banks in Australia, including production support, all
maintenance and development.
MGB have converted CLOAS so that it runs under windows or
UNIX, under relational databases such as Oracle SQL Server
or DB2, with a browser interface and web server fully
replacing CICS, and fully integrated with MQ Series, and
run time processing mapped for 24*7 operation. The big bank
I support has run CLOAS in production under UNIX and Oracle
since 2002. MGB has also replaced online enquiries under
CLOAS using .Net & C#.
For further information I can be contacted at
brianlord@optusnet.com.au
| Is This Answer Correct ? | 52 Yes | 2 No |
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