Product administration was reliant on mainframe computers, and further hindered by layers of programming work-arounds due to decades of industry consolidation.
These “legacy” systems required long lead times – sometimes taking months or even years – to introduce a new product or make improvements to existing products.
SkyComp is BFP’s proprietary, flexible administration platform. Unlike traditional administration platforms, SkyComp’s unique modular coding system allows a product introduction or revision to be completed in just a few weeks.
SkyComp is used for both Policy and Plan Administration, and BFP’s Fund Administration platform was created based on SkyComp’s technology.Technologically Friendly
It offers remote access to the policy operations server and ready access to a fail-over server, if required. The SkyComp policy administration and policy application run on the operations server.
The database is built on an industry standard database management system employing a Microsoft SQL server and database schema proprietary to SkyComp applications.
Innovation used to take place over a period of days, weeks or months – perhaps resulting in a few changes per year. Today, innovation is real time, and perpetual – creating an environment dubbed “The Age of Creation Intensification.”
With each innovation comes a change order; with each change order comes man-hours; with each man-hour comes expense. As innovations continue to grow exponentially, so does cost.
