Vitech Systems Group announced that Portland, Oregon-based Standard Insurance Company (The Standard) has selected V3locity, Vitech’s cloud-native administration, engagement, and analytics platform, to provide its ongoing policy administration services. The Standard will use V3locity’s onboarding, enrollment, policy administration, and billing and commissions capabilities.
Also Read: SS&C GlobeOp Hedge Fund Performance Index and Capital Movement Index
“V3locity will be instrumental in helping us create new opportunities in our business and market differentiation,” said Graeme Queen, second vice president of Policy Administration Transformation at The Standard. “We are confident that our partnership with Vitech will help us accomplish our goals of an enhanced customer experience, improved efficiency and quality, and provide a foundation to build intuitive digital experiences.”
The Standard chose Vitech after an extensive evaluation based on its cloud-based technology, deep functional capability, and organizational fit. Key to their decision was Vitech’s proven experience in implementations for group and voluntary benefits insurers leveraging Vitech’s accelerated approach and pre-configured products and processes.
“V3locity provides a single modern platform that will improve our ability to deliver value to our customers while shrinking our legacy footprint,” said Cherri Roden, assistant vice president of Applications and Solutions Delivery at The Standard. “We look forward to the accelerated and efficient performance resulting from V3locity’s unified and robust system.”
“We are very pleased to partner with The Standard to help them transform their service and technology operations,” said Gary Sherne, Vitech’s president of Insurance. “The Standard’s selection of V3locity confirms their commitment to securing the most advanced and innovative solution to best serve the long-term interests of their clients.”
V3locity is Vitech’s cloud-native administration, engagement, and analytics platform. It is a transformative suite of complementary applications that offers full life-cycle business functionality and robust enterprise capabilities. It marries core administration with a revolutionary digital experience. Its modular design enables flexible and agile deployment strategies. V3locity employs an advanced, cloud-native architecture that leverages the unique capabilities of AWS to deliver a solution with unparalleled security, scalability, and resiliency.
Vitech is a global provider of cloud-native benefit and investment administration software. We help our insurance, retirement, and investment clients expand their offerings and capabilities, streamline their operations, gain analytical insights, and transform their engagement models. Vitech employs more than 1,600 professionals, serving the world’s most successful insurance, retirement, and investment organizations. An innovator and visionary, Vitech’s market leadership has been recognized by industry experts such as Gartner, Celent, Aite-Novarica, and ISG