CalcFocus contracts to deliver cloud-hosted services to support a top-tier Voluntary Benefit carrier’s internal conversion program from Guideline Premium Test policies to Cash Value Accumulation Test policies

Philadelphia, PA, January 20, 2020 –  CalcFocus announces a new contract to deliver cloud-hosted services to support a top tier Voluntary Benefit carriers’ internal conversion program.

Existing CalcFocus services in production include inforce illustrations and “smart” annual reports and policyholder correspondence with “solved for” options for policies that do not project positive account values to maturity, to become “on track”. One task for guideline premium test policies is to detect policies where, if premiums are increased to statutory level maximums, policy values will nonetheless collapse requiring expensive ART forcein premiums to keep the policy in force based on the exception of IRS Section 7702 (f) (6).

The CalcFocus implementation  included services to detect, offer and support policyholders with guideline premium policies who find themselves in this predicament.  One option is to internally convert to one of a family of new cash value accumulation test products.

“These new conversion products, that CalcFocus services support, continue the carrier’s commitment to keep policyholder’s policies “on track” with early warnings and well documented options that are regularly communicated”, says Bob Oakes, CalcFocus Chief Customer Officer. “The carrier’s proactive customer care verifies once again that an ounce of prevention is worth a pound of cure.”

CalcFocus was founded in 2013 by a group of insurance technology veterans in response to seismic changes in the life and annuity industry landscape. CalcFocus Forecast Illustration and Achieve Administration products are cloud-hosted web services to augment or replace selected legacy illustration and policy administration functionality; and CalcFocus services may be orchestrated to become a comprehensive enterprise policy administration and illustration platform. The CalcFocus platform was designed with a pragmatic approach to configurability and a dogmatic approach to quality. Learn more at www.calcfocus.com.