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National Western Life Insurance Company (NWL®) launches Equisoft/manage, a flexible cloud-based policy administration systemFueling an aggressive digital transformation plan, NWL® launches a significant system modernization initiative together with the introduction of a new Fixed Indexed Annuity product. PHILADELPHIA, April 6, 2021 /CNW/ - Equisoft announced today the successful implementation of phase one of its cloud-based policy administration platform that will support NWL's Life and Annuity operations across the full policy lifecycle. The new platform, along with the new NWL® ChoiceOptimizer Fixed Indexed Annuity product, went live in February. Subsequent phases of this large modernization initiative will further support NWL's objective to design, refine and enhance product and policy services in a nimble, cost-effective implementation environment developed to meet the diverse, changing needs of our distribution force and policyholders. Designed for quick and easy transformations, Equisoft/manage is a turnkey cloud-hosted (SaaS) solution using well-established, production-ready digital business processes to enable quick and easy transformations. It includes enhanced New Business and self-service portals designed for advisers and customers, along with an industry-leading core administration capability - the Oracle Insurance Policy Administration (OIPA). "In today's rapidly evolving marketplace, we need to be proactive and extremely responsive to the needs of our policyholders and agents," said Greg Owen, SVP & CIO at National Western Life. "Implementing a flexible and scalable policy administration platform with a user-friendl servicing portal was a key component in our strategy. This is the first phase of a multi-phase initiative that will transform NWL's business into an efficient digital model. We look forward to seeing the successful completion of the entire transformation initiative." Headquartered in Austin, Texas, National Western Life Insurance Company offers a broad portfolio of high-quality life insurance and annuity products, providing professional and friendly service to its policyholders and agents. "This first go-live marks a major milestone in NWL's modernization journey," said Mark DePhillips, Senior Vice President, USA at Equisoft. "Equisoft/manage provides NWL with a best-in-class administration platform that will enable them to quickly implement new products and efficiently service their agents and policyholders. We are proud to be NWL's strategic partner in this important modernization endeavor." About National Western Life About Equisoft View original content to download multimedia:http://www.prnewswire.com/news-releases/national-western-life-insurance-company-nwl-launches-equisoftmanage-a-flexible-cloud-based-policy-administration-system-301263100.html SOURCE Equisoft |