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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.

With many vesting, accrual, and minimum participation rules as well as potential legislation to address future funding shortfalls, multiemployer pension plans need a modern and advanced system to support their inherent complexities.

Key insights to help you adapt your business capabilities for your insurance transformation journey and measure your progress along the way.

When implemented correctly, Agile can deliver improved software quality, tighter alignment with business objectives, and lower cost and risk.

With comprehensive persona data, along with insurers’ willingness to wholly embrace customers’ views, the personalized insurance engine has a promising future, especially as insurers, insurtechs, and technology firms push its development.

Group insurers are finding new ways to thrive in a market dominated by a small number of large players. Greater personalisation, boosting customer relationships, cost efficiencies, and improving member health and helping employees return to work are all helping insurers to cope with a changing workforce and to compete in a challenging marketplace.

The beauty of change is that it prevents inertia and more importantly, indicates progress. This is the case for group insurance as the changing dynamics of new product strategies, intensified employee retention efforts, and evolving distribution models accelerate insurance ecosystem transformation. By breaking the mold, group insurance can set the stage for renewed strategies for long-term value and future success.

In today’s employer benefits market, cash balance plans are now growing faster than traditional 401k offerings. With the proliferation of these plans, sponsors need a technology solution that supports their administrative complexities, including onboarding, administration, and automated benefit calculations.

When running a marathon, scaling a mountain, or beginning a system implementation, it’s all about timing. In this week’s blog, our guest author, Kimm Nasser-Fenn, VP of Professional Development at Linea Solutions, explains the importance of planning for a successful organizational change management implementation, starting from the beginning of the project to the first few months of the new system’s use.

A systematic and reasoned approach to data migration can help ensure a less painful move from legacy systems to new pension and health benefits programs. The common assumption that “my legacy data is clean” can be famous last words. A close examination of the old system by all stakeholders can lead to positive outcomes, just like the move to a new house will go much smoother if essential planning is in place before the big day.