AUSTIN, Texas, Nov. 6 /PRNewswire/ -- Versata, the leading provider of enterprise software solutions with the lowest total cost of ownership, today announced the Life Insurance division of Pacific Life Insurance Company has selected Versata's Distribution Channel Management(TM) solution for its comprehensive distribution administration, credential management, and compensation capabilities. Pacific Life's Life Insurance division chose Versata's solution based on the depth of insurance-industry specific functionality, coupled with proven lowest total cost of ownership.

According to Mike Bell, executive vice president of Pacific Life's Life Insurance division: "It is critical that our software enable our business users to quickly add new agents and new channels, properly align process with our strategic business objectives, and ensure reliable tracking and payments amidst rapid change."

"Not only must we meet extraordinary business demands that require we support over 100,000 agents and tens of millions of calculations per month, we also must contain our total costs while guaranteeing reliability," added Cameron Cosgrove, CIO of Information Technology for the Life Insurance Division at Pacific Life. "We are confident Versata will provide us with the software tools and support we need to be successful."

Pacific Life will implement the complete DCM solution, including Distribution Administration(TM), Compensation Management(TM), and Credentials Management(TM), integrated to legacy back end systems from CSC and IBM.

Versata is the first in the industry to offer this breadth of distribution channel management functionality, and now optimized on an open source platform, Versata adds the speed, scalability and low-cost to appeal to the world's largest insurance companies. Versata's solution provides powerful tools that enable business users to control the operation of their business without extensive IT involvement or custom coding.

"With over a decade of experience developing software to manage incredibly complex distribution channels, Versata is thrilled to add this industry leader to our insurance industry customers," said Randy Jacops, the president of Versata. "Working with Pacific Life we are able to ensure business results as we implement a proven software solution with the lowest possible cost of ownership. We are proud to partner with Pacific Life to support them in their aggressive growth and continued industry leadership."

About Distribution Channel Management(TM) (DCM)

The Versata's Distribution Channel Management(TM) (DCM) solution is an industry-specific distribution management and compensation product that enables insurance and brokerage companies to successfully manage complex distribution channels. Working efficiently with a growing number of producers to manage multiple producer compensation plans, the Versata DCM product helps insurers get more from their investments in distribution systems by providing the accuracy and flexibility necessary to turn channel compensation systems from cost centers to revenue drivers.

About Pacific Life Insurance Company

Founded in 1868, Pacific Life provides life insurance products, individual annuities, and mutual funds, and offers a variety of investment products and services to individuals, businesses and pension plans. Pacific Life counts more than half of the 100 largest U.S. companies as clients and is a member of Insurance Marketplace Standards Association (IMSA), whose membership promotes high ethical standards for the sale of individual life insurance and annuities. For more information, visit http://www.pacificlife.com/.

About Versata

Versata Enterprises, Inc., and its family of companies, is the leading provider of enterprise software solutions that deliver business results, performance, and scalability with a low total cost of ownership. Versata's patented solutions decrease IT costs by eliminating expensive maintenance, by leveraging open source technology, and by accelerating value delivery to business customers. Versata partners with corporate IT departments to enhance and simplify critical operations in the automotive, financial services, consumer/public, government, and manufacturing industries. For more information, visit http://www.versata.com/.

CONTACT: Krista Glotzbach of Versata Public Relations, +1-415-271-7638
or krista_glotzbach@versata.com

Web site: http://www.versata.com/