With the products, the distribution landscape and regulatory compliance changing so quickly, keeping your head above water is no easy task. New products surface, some change, others disappear. Adapting your information processing system to handle it all can prove costly, both in time and money.
MajescoMastek's Vector Policy Admin, 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
- Stable environment with over 30 installations in the US processing millions of policies daily
Benefits of Vector Policy Admin
- Vector PA helps carriers reduce costs, improve productivity and accelerate the speed to market for new products.
- Vector PA is a Web-enabled, n-tiered system that provides cost-effective administration of life and annuity products.
- Vector PA enhances customer service through real-time processing and round-the-clock access to information
- A mature and proven solution that provides complete functionality from new business through claim processing including product definition, new business/underwriting, administration, billing and collection, distribution management, correspondence and reporting.
- Vector PA supports a broad array of products and product features from Traditional, Universal Life, Variable Universal Life and Annuity.
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