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In the mid-1980's Paul Virtue, then CIO of a large multi-national
life insurance company, was
faced with replacing aging mainframe policy administration systems.
That company was at the same time introducing their universal
life insurance products to the market. Software packages from
third party developers/vendors seemed to be the answer for replacing
these systems. However, these packages proved to be either architecturally
obsolete or limited in their functionality. The only alternative
was for the company to embark upon a development project with
its huge cost and risks.
It was evident that the market was poorly served by aging or
inadequate application software packages and that there was room
for new competitors provided the technology could be kept current
and that the applications were well designed and competitively
priced. In 1988, recognizing this opportunity, Virtue and two
colleagues from the insurance industry, Gary Lee-Sin and Courtland
Soares, launched Advanced Digital Services Ltd. Their mission
was to develop a new breed of insurance software using modern
technologies that could match the competition on functionality,
beat them on price, and provide a competitive advantage to customers
through shorter product implementation times.
Modern development technologies were still in their infancy in
the late 1980's so the sale of their entry-level general insurance
packages, COVER and BROKER, and the bespoke development of financial
services software, including a bancassurance system that was to
have profound impact later, were the mainstay of the Company.
Design of the original CIS-LIFE application commenced in 1991,
and in late 1992 when appropriate development tools emerged, programming
started. After a few years and some initial licence sales, this
design evolved into the CIS Family of software packages which
has become the Company's flagship application. The CIS design
reflects a combination of the experiences of prior software development,
the accepted industry trend towards investment-linked products,
and the unique background of the developers who possess practical
knowledge of insurance administration combined with solid IT expertise.
After years of development covering several hundred man-hours
of effort, the Company's CIS application has earned recognition
in the marketplace as a credible software solution. The CIS software
has been licensed, installed, and customized at customer sites
ranging from startup operations to successful bancassurance ventures
to large agency-based companies located in a number of countries
around the world. The portfolios of these customers include a
wide range of traditional product lines, fixed and variable annuity
products, universal life products, and variable life products.
Starting with a staff complement of 8, ADS has grown to 30 employees
and boasts customer sites in the Caribbean, the USA, Africa, and
the Asia-Pacific Region.
Lee-Sin left ADS in the mid-1990s, selling off his shares in
the Company to his remaining partners. In 1998 the National Investment
Bank acquired an equity position in ADS through a deal that saw
an expansion of the Company's capital base. This capital injection
proved vital in allowing the Company to retire debt that had been
accumulated whilst it concentrated on development of the CIS software.
The additional capital also facilitated the necessary establishment
of a physical presence in the USA market through the incorporation
of Amerillium Systems Inc., a wholly owned subsidiary. Based in
Raleigh, North Carolina, ASI opened for business in 1999 and presently
operates with a staff complement of 5. As distributor for the
CIS software packages developed by ADS, the primary mission of
ASI is to build market share in North America and establish international
dealerships for the CIS product line.
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