(Image credit: author.)
Standard Insurance Company (The Standard; Portland, Ore.) has selected V3locity, Vitech’s (New York) 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, according to a vendor statement.
“V3locity will be instrumental in helping us create new opportunities in our business and market differentiation,” comments Graeme Queen, second VP, Policy Administration Transformation, 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.”
Vitech reports that The Standard chose V3locity after an extensive evaluation based on its cloud-based technology, deep functional capability, and organizational fit. Key to the company’s 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, according to the vendor.
Shrinking Legacy Footprint
“V3locity provides a single modern platform that will improve our ability to deliver value to our customers while shrinking our legacy footprint,” comments Cherri Roden, AVP, Applications and Solutions Delivery, 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,” comments Gary Sherne, President of Insurance, Vitech. “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.”