Michael J. Prestwich founded IMAGISOFT in 1982 after five years selling life insurance, annuities, and securities because he was frustrated by the lack of software available for the new products that were emerging in the marketplace. His background as a producer trainer and his knowledge of the sales process helped him design productive screen layouts that had a logical work flow.
In 1982 Mike assembled a software development team and worked with the actuaries at United Presidential Life in Kokomo, Indiana to develop, as far as we know, the first Universal Life illustration system for the IBM PC, Radio Shack TRS-80, and Apple II computers. Within a few years this software was adopted by ITT Life, Kemper Investors Life, Home Security Life, Pioneer Life of Illinois, Paul Revere Life, Alexander Hamilton Life, Allstate Life Insurance Company, University Life, College Life, American Life and Casualty, and Midland National Life.
We customized our software for each of these companies. Some of these relationships converged as Conseco purchased United Presidential and Pioneer Life. ITT Life, Alexander Hamilton, University Life, College Life, Home Security, and Paul Revere dwindled when they were gobbled up by conglomerates.
Allstate blossomed as they expanded their software need from MS-DOS to Windows. They also had us develop several Universal Life products, Universal Term, 10, 15, 20, and 30 year Term, and one of the very first Fixed Indexed Annuities. We also develop supplemental illustrations for the business market such as Split Dollar, Executive Bonus, and Deferred Compensation. Our last project with Allstate was electronic smart forms. This relationship lasted 20 years until the project was taken over by their internal IT staff. In 1997 we licensed most of this technology, including the source code, to Midland National Life (Sioux Falls, South Dakota).
Kemper Investors introduced us to Variable Annuities and the 403(b) market. Since then we created 403(b) Maximum Annual Contributions, Paycheck Analysis, Retirement Analysis (which we now collectively call "STRS Pro"), Required Minimum Distributions (RMD), Substantially Equal Periodic Payments (72(t)), IRA Deduction Analysis, Stretch IRA, Split Annuity, and Roth IRA. Some of these products are currently being used by Waddell & Reed, Ameriprise, Protective Life, and Conseco.
In 2002 we converted all of our Windows software to the Microsoft .Net Framework. We completely redesigned all of our systems so that even the smallest calculation was its own, self-contained object that could be called from any other software module. We developed our DataNet platform that provides uniform methods for each of these objects to pass data to each other. In the last decade we have used our software development platform to implement a variety of products on both Windows desktop and the web including:• Social Security Calculator
• Fixed Indexed and Traditional Annuity illustrations
• Single Premium Immediate Annuity illustrations
• Universal Life, Single Premium Whole Life, and Term illustrations
• Electronic Smart Forms, Electronic Signatures, Application Submission
• Policy Billing, Administration, Accounting, and Commissions
Our core software development team has been together for 30 years.
IMAGISOFT is dedicated to providing you with the best products at the lowest possible price. If you have any suggestions, questions or problems with any of our software, please call me directly: (877) 510-4702, ext. 111. I will make sure that you get a satisfactory answer to your question or problem as soon as possible
PO Box 13208
Albuquerque, NM 87192-3208
Toll-free Telephone (877) 510-4702
Inc. PO Box 13208 Albuquerque, NM 87192-3208
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