CalcFocus signs Private Placement Life Insurance carrier to implement Achieve, it’s cloud-hosted Policy Administration Platform.

Philadelphia, PA, February 21, 2020 –  CalcFocus announces a new contract to implement its comprehensive policy administration platform for a Private Placement Life Insurance Carrier that also includes continuous inforce illustration integration.

The implementation will include support for the carriers single life and joint and survivor private placement variable universal life and private placement variable annuities. In addition, the CalcFocus platform will support multiple net amounts at risk reinsurance models, multiple producer compensation models, and customizes policy costs of insurance and other fees and charges at the advisor, producer and /or policy level. 

“We anticipated that this exciting new project would require managing complex underlying investment divisions; exact precision required for Section 7702 and 7702A processing; and the ability to complete financial events, like policy loans and partial withdrawals, in pieces, based on investment division availability”, says Tom McCahill, project manager, “What was unexpected was the outstanding policyholder service the carrier expected: CalcFocus policy administration will memorialize the full plans and goals for each policyholder, including revisions, and quote the forward looking consequences of every financial event – every premium paid, every loan or other distribution taken, every time the interest earned from investment divisions deviates from the previous current interest assumption – to project values until maturity to make certain the policyholder remains on-track and on-goal. Plus, there is regular policyholder notice when events taken today jeopardize policyholder goals with automated recommendations to reset the policy on-track.”

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.