Informatics General: Difference between revisions

Revision as of 19:45, 12 August 2023

Revision as of 20:28, 1 September 2023

Line 271:

===Equimatics Division / Life Insurance Systems Division===

United Systems International was a [[Dallas, Texas]]-based company that was building an ambitious solution for automating the back-office functions for companies that offer [[life insurance]].<ref name="frank-52"/> Informatics acquired it in 1971 as part of the aforementioned Equimatics, Inc. initiative.<ref name="frank-52">Frank, "Achieving the American Dream", pp. 52, 95n.</ref> From this the Life-Comm solution emerged;<ref name="frank-52"/> the Life-Comm III version in particular became popular in the mid-1970s, quickly getting to the $1 million level in sales<ref>{{cite news | url= https://books.google.com/books?id=auvoEl8SK9sC&pg=PA54 | title=29 Software Packages Join ICP $1 Million Club | magazine=Computerworld | date=April 26, 1976|page=54}}</ref> and growing to have several dozen customers among insurance companies.<ref>{{cite news | url=https://books.google.com/books?id=soGti0kvtgwC&pg=RA1-PA3 | title=Tapping External Data Sources | first=Forest Woody, Jr. | last=Horton | magazine=Computerworld | date=August 15, 1983 | pages=ID–1ff}}</ref> It eventually became the leading product in the field.<ref name="lat-target"/> The Equimatics initiative also put some other financial software, such as the Mortgage Loan System.<ref>{{cite news | url=https://books.google.com/books?id=NDIWAQAAMAAJ&q=The+best+thing+about+the+Equimatics+Mortgage+Loan+System+is+what+it+doesnt+do&dq=The+best+thing+about+the+Equimatics+Mortgage+Loan+System+is+what+it+doesnt+do&hl=en&newbks=1&newbks_redir=0&sa=X&ved=2ahUKEwjh0avZhcaAAxVgEFkFHXDSBQoQ6AF6BAgJEAI | title=The best thing about ... | work=Mortgage Banker | volume=36 | issue=uncertain | date=1975 | page=19 | type=Advertisement}}</ref>

The Equimatics Division persisted as a name within Informatics even after the company was acquired by, and subsequently became independent from, Equitable Life Assurance itself.<ref>{{cite news | url=https://books.google.com/books?id=OXsqAQAAMAAJ&q=Informatics+Inc.+has+named+WALTER+B.+RICKEL+direc-+tor&dq=Informatics+Inc.+has+named+WALTER+B.+RICKEL+direc-+tor&hl=en&newbks=1&newbks_redir=0&sa=X&ved=2ahUKEwjX0crXicaAAxU5EFkFHeL6AB4Q6AF6BAgCEAI | title=uncertain | work=Software Digest | publisher=EDP News Service | volume=12 | issue=uncertain | date=1980 | page=4 }}</ref> It released related insurance products, such as GROUP-COMM, for the administration of [[group insurance]] plans.<ref>{{cite news | url=https://books.google.com/books?id=o1xUAAAAMAAJ&q=GROUP+COMM++equimatics&dq=GROUP+COMM++equimatics&hl=en&newbks=1&newbks_redir=0&sa=X&ved=2ahUKEwj_5Mjfi8aAAxVRFlkFHcskCjIQ6AF6BAgGEAI | title=uncertain | work=Information & Records Management | volume =16 | issue=uncertain | date=1982 | page=16 }}</ref> However over time it became instead known as the Life Insurance Systems Division.<ref name="ar-1982-reportings"/>

Around 1984, the Life Insurance Systems Division fell into difficulty and was responsible for some of Informatics' declining financial fortunes.<ref name="lat-target"/> In late 1984, the division was sold to The Continuum Company.<ref>{{cite news | url=http://articles.latimes.com/1985-01-17/business/fi-7922_1_industry-notes | title=Industry Notes | newspaper=Los Angeles Times | date=January 17, 1985 }}</ref>