Life & Annuity Insurance Management Software
Life and Annuities service providers are constantly battling rising IT costs due to multiple disparate policy administration platforms, inflexible systems, a lack of policy roadmaps, and evolving customer expectations.
Partnering with NIIT Technologies brings to you an entire suite of IT and BPO services closely aligned to industry regulations, the digital capabilities for omnichannel experiences, and expertise across market-leading policy administration systems (PAS) and other peripheral systems.
We deliver a range of services across the product lifecycle, focused on process and IT simplification, decommissioning and platform consolidation, application portfolio assessment, application management and support, legacy support and maintenance, and legacy modernization.
Our offerings in the Life and Annuities space include the following:
New business and underwriting: this primarily includes interfaces with third-party administrators (TPAs), the life underwriting framework, adjudication and rating, and the management of the underwriter’s desktop
Policy administration: this primarily includes policy issuance, collection and billing, cancellation and reinstatements, policy change and endorsements, renewal management, and claims management
Reporting and statements: this includes MIS and regulatory reporting
Sales and marketing: this includes commission and incentive management, distribution channel support, agency management, and agency portals
Accounting and compliance: this covers tax compliance, the management of financial accounting, agency contracts, reconciliation, and reporting
We have domain leadership and a technological edge that empower us to deliver innovative solutions tailored to every customer in the Life and Annuity insurance industry