Life Annuities

Clients depend on long term products such as Annuities and Investment Products to plan for their future and a secure retirement. Many of these clients are also policy holders of other types of insurance with the same company. The process involved in underwriting and managing these products requires access to various different administration systems. In addition managing ancillary documents such as contracts, applications, is critical. Efficient management of this process is a requirement for competitive advantage, controlling costs and more important outstanding customer service.

Many of the transactions that originate to buy or sell Annuities and Investment Products require signature documents and can be time sensitive. The timeliness and integrity of setting up the plans, processing the transactions and managing the plans requires an automated system. The more dependent an insurance company is on manual processes and clerical staff, the more the cost of doing business and the risk of human error increases. Suddenly, the need to process any financial transaction correctly or in a timely fashion can become difficult.

The IPD Solution
The Ultera Intelligent User Interface (iGUI) can aggregate data from all administration systems into an organized view of all pertinent data. Ultera worksheets supplement that view with an efficient desktop to interact with host systems and manage work. Ultera can import and manage all documents related to a policy holders file for processing work or assist as an audit trail of any transaction. Ultera extensive reporting tools allow management to identify a processing bottleneck and prioritize work.

Ultera Business Process Application provides:

• Unified work environment allowing Disability Claims operations to work 30%-50% more productively
• Significantly increase customer service because all data is in one user interface
• Provide an online interface with a complete work inventory for the claims operation
• Provide a user friendly intelligent graphical user interface (iGUI) that:
• aggregates data from multiple systems and applications to one user interface
• view all the documents and data that relate to the case file
• manage the life cycle of case files and requirements gathering process with providers
• Web access for brokers and agents
• Management can track and manage work
• Low total cost-of-ownership (TCO) because most of the environment can be configured without programming and can therefore be managed by the business
• Store, manage and view all documents and data associated with case
• Maintain compliance regulations and records management
• Multiple language support
• Full Security prevents unauthorized access

Ultera is flexible and can be implemented through configuration with connection to other systems using industry standard Web services, SOA or ACORD XML.