WoodmenLife Chooses LIDP’s Titanium as Strategic Platform for Life & Annuity

The Omaha-based insurer will deploy Titanium to replace and consolidate its legacy administration systems for all L&A lines and to provide a platform for digitalization.

(Douglas fir forest in Oregon’s Coastal Range. Photo credit: Robert P. VanNatta.) 

WoodmenLife, an Omaha, Neb.-based not-for-profit provider of life insurance and retirement products, has selected LIDP Consulting Services (Venice, Fla.) The Administrator—Titanium Edition as its core policy processing system. WoodmenLife will deploy Titanium to replace and consolidate its legacy administration systems for all life and annuity lines and to provide a platform for digitalization.

WoodmenLife selected the LIDP solution on the basis of suitability to the insurer’s needs, and as a result of a successful proof-of-concept involving processing of the carrier’s most complex universal life insurance product. Choosing Titanium as a strategic platform for its current and future business, WoodmenLife sees the opportunity to upgrade its back-office operation with a clear path to complete digital transformation, including extending access to consumers and producers, according to an LIDP statement.

Bill Schnittker, President, LIDP.

Bill Schnittker, President, LIDP.

“We believe LIDP’s Titanium is the ideal solution for our needs today, but more importantly as a strategic platform to upgrade our operation and enable our digital future,” comments Jerry Smolinski, VP, Business Technology, WoodmenLife. “We were very impressed with the system’s ability to handle our unique universal life product, which was challenging to find a suitable solution in the marketplace.”

Expertise and Commitment

The expertise and commitment of LIDP was also a factor in selection, according to Denise McCauley, EVP, Operations, WoodmenLife. “We were making a long-term decision and wanted to be sure we selected a technology partner who knew our business and would be there with us every step of the way,” she comments.

Benefits that WoodmenLife anticipate from deployment of LIDP’s Titanium include the following, by the vendor’s description:

  • Provide key growth capabilities, such as real-time updates and support for customer self-service necessary to meet evolving customer expectations
  • Support for an updated platform that aligns with the organization’s technology strategy

“We are thrilled to add WoodmenLife to our growing family of users,” comments Bill Schnittker, President, LIDP.  “We take pride in our Titanium solution as well as the skill and knowledge of our staff. We worked very closely with the WoodmenLife team throughout the proof of concept, giving us the opportunity to become more familiar with their business, needs, and preferences.  That experience will go a long way as our joint team works through the conversion and implementation.”

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Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at AnthODonnell@IIReporter.com or (503) 936-2803.

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