Author: Team Vitech

In this blog, Todd Eyler explains the rules for project implementation goals in group insurance technology transformations and how they can add long-term value and customer retention.

Modern policy administration systems are expected to play an essential role in improved operations and growth in the life insurance industry.

The effects of the pandemic will reverberate throughout the global community for generations. For the group insurance industry, Covid was a catalyst for powerful transformation. The resulting operational revisions, strengthened customer relationships, and focus on innovation will highlight a new and exciting chapter in the ongoing evolution of group insurance.

A next-generation technology foundation combined with omnichannel, data and analytics, and personalization can deliver the future-focused CX needed now and in the future.

For today’s group insurers, the pandemic provides an opportunity to demonstrate and promote the value of their services and offerings. To respond most effectively, group insurers need modern core administrative platforms to enable seamless engagement, portability, more granular pricing for mortality and morbidity, and easy integration into the complex healthcare benefits ecosystem.

As we’ve now reached the end of 2021 in what seems like a heartbeat, I’ve taken a step back to reflect on these memorable past 12 months. In this week’s blog, I wanted to share my thoughts on what has been a successful and exciting year for Vitech, despite the current business landscape that remains challenged by the pandemic’s ongoing uncertainty.

Other than competing on price, new and innovative products that get to market early can command first-mover advantage, and subsequently generate customer loyalty as well as strong brand recognition. Speed to market can be achieved that much easier with early IT collaboration and automation, which can result in an agile approach to product development and deployment, to ultimately achieve desired speed-to-market goals.

A good friend of mine from my undergraduate days describes himself on his social media accounts in a rather distinctive way: “Just an analog guy in a digital world.” ...

For voluntary benefits to achieve greater traction with plan sponsors and employees, group insurance companies must overhaul their education and technology strategies and drive down voluntary benefits’ costs through new modern and efficient core systems.

Vitech is kicking off a four-part series that explores group insurance companies’ collective issues and how they can be solved to enable a complete, optimized transformation. In this week's blog, we examine how insurers’ legacy systems and traditionally conservative cultures lead to a complex group benefits ecosystem, whose outdated technology results in manual processes and difficulty in adding or updating products to appeal to new customers.