Software house Policy Management Systems Corporation (PMSC) hopes to win insurers' hearts by changing its name to Mynd.

The global company's new brand identity and logo will be accompanied by a worldwide advertising and promotional campaign in March.

Mynd has been chosen as the name to stress the company's knowledge and its evolution to internet-based programs and e-commerce.

"As the name Mynd indicates, we are a unified knowledge centre. Our collective brain power helps clients adapt to change," said PMSC chief executive Larry Wilson.

PMSC was formed in 1974 by a small group of programmers who developed a computerised insurance policy management system.

However, as the company expanded and made acquisitions, it felt that its brand value became diluted.

Branding company Duffy Design is the company that has been managing the rebranding operation.

PMSC's new company logo is split into three sections conveying three meanings:
- The main sphere emphasises the continuity and completeness of its combined knowledge
- The sphere reaching in two directions demonstrates the power of creative thinking
- At the centre of the logo, is a sphere projecting into the distance, pointing towards a goal, representing the company's collective vision.