(Image source: Prudential.)
Prudential Group Insurance (Newark, N.J.) has signed a long-term contract to use Vitech’s (New York) V3locity as the insurer’s new core administration platform across its entire group insurance business, according to a vendor statement.
Vitech reports that Prudential will use V3locity to administer a broad range of insurance products including Accident, Critical Illness, Hospital Indemnity, Term Life, Short and Long-Term Disability, Universal Life, Variable Universal Life and more. The insurer’s decision to leverage V3locity across its entire group insurance business is aligned with Prudential’s overall growth and transformation strategy and follows the successful implementation of V3locity for its voluntary benefits business in May 2019.
“Our business strategy is centered on meeting the demands of our current and future customers, who are looking for a tech-forward experience,” comments Jamie Kalamarides, President, Prudential Group Insurance. “Transforming our end-to-end customer experience requires collaborating with the right technology partners. Our previous experience with Vitech’s V3locity platform, which supports a broad range of insurance products and has an advanced cloud-native architecture has given us great confidence in the platform and in Vitech as a long-term partner.”
V3locity is Vitech’s cloud-based administration, engagement, and analytics platform. The vendor describes it as a transformative suite of complementary applications that offer full life cycle business functionality and robust enterprise capabilities. The system unites core administration with a digital experience. Its modular design enables flexible, agile deployment strategies, according to the vendor. V3locity employs an advanced, cloud-native architecture that leverages the unique capabilities of AWS to deliver a solution with unparalleled security, scalability, and resiliency.
“We are thrilled that Prudential has chosen V3locity as its long-term administration platform,” comments Frank Vitiello, CEO of Vitech. “This certainly solidifies V3locity’s position as the premier choice among leading group benefit organizations. We look forward to supporting Prudential in every way we can as their strategic technology partner.”