Mutual insurance provider Beneva has selected Vitech’s administration solution, V3locity, to serve as the former’s new integrated administration platform.
Beneva will utilize V3locity’s onboarding, policy administration, billing, and digital self-service (for employees, plan sponsors, and advisors) applications. A release said that thanks to the new administration software, Beneva “will be able to support its growth with an efficient ecosystem, as it offers its products to service the needs of the Canadian market.”
“V3locity will be instrumental in strengthening our operational capacity, allowing us to grow our group insurance business across Canada," said Beneva EVP and group insurance lead Eric Trudel. "We strongly believe that our partnership with Vitech will help us enhance our digital services offering and accelerate our ecosystem integration, providing solutions of unmatched simplicity for our clients."
"We are delighted that Beneva has chosen V3locity as its core group insurance platform for the future," added Vitech president of insurance Gary Sherne. "We look forward to providing Beneva with a competitive edge as it expands its geographical footprint and pursues its ambitious goals in the evolving insurance industry."
Last year, Beneva upgraded its automated underwriting solution to Sapiens’ UnderwritingPro Version 11. The upgrade was in line with the company’s digital transformation goal to automate its multiple manual processes and rules by using digital tools.
