Choosing an administration system is one of the biggest decisions your organization will face. There are hundreds of factors you will take into consideration as you decide. Finding the right fit is crucial. An unproven system can be costly to implement and maintain. Most analysts agree that administration systems require years of development before they can be considered fully-functional. A proven track record of success with many carriers selling a variety of products is the only real way to predict if a vendor will deliver on its promises. MajescoMastek's Vector Policy Admin mitigates risk and gives you a proven, flexible and comprehensive solution for administering all types of life and annuity products. From day one, you'll recognize Vector's value to your organization. It is a system that administers traditional and non-traditional products with equal ease allowing carriers to scale effectively, efficiently, and economically - as a traditional deployed application - or as an ASP, fully hosted and managed by MajescoMastek. It is a system so flexible; all you have to do to stay ahead of the competition is add new products, not an entire system. Highlights of Vector Policy Admin - A full-featured life and annuity system
- Supports wide range of product types across traditional, universal life, variable universal life and annuity.
- Supports the full range of administrative functions required for policy management
Benefits of Vector Policy Admin - A proven system: Stable system in over 25 installations with over 10 million policies under administration
- Designed for usability and speed: Browser-based; organized by area/function; accelerates product introduction
- Helps Life Insurers reduce their costs: Ensures rapid implementation and process improvements
- Removes risk from the carrier: Hosted (ASP) environment; eliminates system maintenance and security concerns
- Web-enabled, n-tiered system
- Enhances customer service through real-time processing and round-the-clock access to information
- Provides complete functionality from new business through claim processing including product definition, new business/underwriting, administration, billing and collection, distribution management, correspondence and reporting
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