Allmerica Financial Selects NaviSys Front Office Illustration to Enhance Sales Process; New System Part of Allmerica's Strategy to Grow Life Business.Business Editors EDISON, N.J.--(BUSINESS WIRE)--April 2, 2002 NaviSys, Inc., a leading provider of strategic counsel and platform-neutral, enterprise software to the life insurance industry, today announced that Allmerica Financial will use NaviSys Front Office(TM) illustration to further strengthen its new business process. This marks an expansion of Allmerica's relationship with NaviSys. The insurer already uses NaviSys Home Office(TM) administration for life product development and policy administration. Barbara Maietta, Vice President, Marketing Development at Allmerica, said, "When we decided to bring in a new illustration system, we looked carefully at several different providers before choosing NaviSys as our partner. NaviSys offers strong experience in developing and implementing illustration systems, along with exceptional actuarial ac·tu·ar·y n. pl. ac·tu·ar·ies A statistician who computes insurance risks and premiums. [Latin capabilities. This solution is an excellent complement to our aggressive growth strategy." Ms. Maietta continued, "Allmerica and NaviSys will work closely together to develop specifications and test the system. Based on our solid existing relationship, we feel very comfortable with NaviSys. Using Front Office illustration, we'll be able to easily implement other Internet-based solutions down the road, as well as initiate straight-through processing straight-through processing The direct exchange of cash and securities. Straight-through processing is a major objective for cross-border transactions that are generally much more costly to settle compared to domestic transactions. to our home office system." Allmerica Financial, a leading player in the variable universal life (VUL VUL Variable Universal Life VUL Vulnerability (unit) VUL Vulgar ) market, will initially implement the new system for several VUL products. John Gorman John Gorman can refer to:
NaviSys Front Office(TM) includes Web-based sales illustration, application entry, underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. and customer service components. These technology assets, combined with NaviSys' strategic counsel, enable leading life and annuity providers to cut new business processing time and expense, improve captive and independent producer performance and enhance overall customer satisfaction. About Allmerica Allmerica Financial (www.allmerica.com) is a diversified group of insurance and financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. companies based in Worcester, Massachusetts. Allmerica has been helping its clients meet their financial security needs for more than 150 years, marketing a broad range of products and services to individuals, families, businesses and associations across the country. A Fortune 500 organization, Allmerica ranks among the leading providers of variable annuities Variable annuities Investment contracts whose issuer pays a periodic amount linked to the investment performance of an underlying portfolio. , variable life insurance and property and casualty insurance coverages in the country. About NaviSys NaviSys (www.navisys.com) enables leading life insurers to profit from technology. Through its platform-neutral software solutions and strategic counsel, NaviSys empowers life insurance carriers and distributors to create, distribute and administer insurance products through multiple channels. Companies such as American General, Prudential, SunAmerica, TIAA-CREF TIAA-CREF Teachers Insurance and Annuity Association - College Retirement Equities Fund and Western Southern rely on NaviSys' pre-built and customized solutions, including NaviSys Front Office(TM) and NaviSys Home Office(TM). For twenty years TWENTY YEARS. The lapse of twenty years raises a presumption of certain facts, and after such a time, the party against whom the presumption has been raised, will be required to prove a negative to establish his rights. 2. , NaviSys has supported insurers' evolving business objectives while leveraging their existing technology investments. Seventy five percent of the largest domestic life and health insurers and over ninety percent of the top annuity providers have called on NaviSys to combine superior technology with best-practice business processes to gain a competitive advantage. Headquartered in New Jersey, NaviSys has offices in New England New England, name applied to the region comprising six states of the NE United States—Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and Connecticut. The region is thought to have been so named by Capt. and Pennsylvania. All copyrights and trademarks are registered and protected by their respective manufacturers. |
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