Infosys McCamish Recognized as a Leader in the ISG Provider Lens™ 2023 Insurance Platform Solutions Report - Life and Retirement Insurance Platform Solutions in the US
Today more than ever, life insurance enterprises seek flexible and adaptable mediums to improve the functionality of their business processes. Legacy and home-grown core systems are much antiquated, becoming redundant and no longer viable, resulting in extended product development cycles, costly maintenance, and rigid processes. Many of today’s insurers are still held back from becoming truly competitive by their legacy systems. At the same time, many others are discovering the benefits of advanced insurance platforms to better achieve their goals and thrive in the market by cutting down costs, increasing flexibility, boosting customer experience, and speeding up products to market. Such platforms can also offer capabilities that can help carriers innovate, engage with partners across the value chain, and add or optimize business processes.
In this field, Infosys McCamish has been recognized as a Leader in the ISG Provider Lens™ 2023 Insurance Platform Solutions Report - Life and Retirement Insurance Platform Solutions. The report assesses insurance platform providers that offer core systems for the life and retirement (L&R) insurance market in the US.
The report highlighted Infosys McCamish’s following strengths:
- Single and scalable platform: Individual, retail, institutional, worksite/group, and qualified and non-qualified products are all supported on the Infosys McCamish VPAS™ platform. VPAS™ is a highly scalable platform that serves the entire policy lifecycle, from enrolment to claims.
- Continued conversion streak: Infosys McCamish has completed more than 20 significant conversion programs with a 100% success record. The firm has a well-established conversion playbook and innovative accelerators such as its McCamish Conversion Accelerator Platform (McCAP) for transformation and balancing risks and controls to assure data quality.
- A vast product catalogue: With an extensive product library across all L&R businesses and proven production implementations, Infosys McCamish can help insurers launch products quickly. The product library includes not only single-term, whole-life, and fixed annuity products, but also complex products that include private placement, variable life and annuity, and indexed products.
- Producer Management and Compensation System (PMACS®): A comprehensive suite of producer and distribution management software products designed for the financial services industry. It enables faster time-to-market for new compensation plans, is reliable with calculations and accounting, and is easy to manage.
“Infosys McCamish, a well-known name in the insurance industry, provides its VPAS™ platform to L&R companies to assist them in meeting their growth objectives.”
- Ashish Jhajharia, Lead Author
To read the full report, please click here
For more information on Infosys McCamish’s offerings, please click here