CalcFocus signs Top-Tier Voluntary Benefits Carrier to implement Achieve, CalcFocus’ cloud-hosted Policy Administration Platform and to Sunset Two Legacy Policy Administration Systems and Reclaim Blocks Administered by Third Parties

Philadelphia, PA, January 1, 2021 – CalcFocus announces a new contract to implement its cloud-hosted comprehensive policy administration platform, Achieve, for a top-tier voluntary benefits carrier. The implementation will sunset two legacy policy administration platforms plus reclaim policies that are currently administered by TPA. In addition, multiple upstream and downstream legacy integration applications will be retired.

In total, over 127,000 active policies will migrate to Achieve plus all policies terminated within reinstatement windows. Products migrated include mostly universal life, interest sensitive whole life, whole life, and early universal life lookalike products. In addition, a subset of policies includes voluntary benefit term, cancer, accident, disability, and critical illness policies. CalcFocus Forecast inforce illustrations, smart annual statements, and correspondence projections are integrated in the new platform.

The platform includes billing and premium collection, accounting, policy owner services, agent management and commission processing, claims processing, upstream and downstream integrations, correspondence, and reporting.

“This exciting project connects at CalcFocus’ sweet spot – retrieving, migrating, administering, and illustrating policies, with many complex product varieties, from older legacy platforms”, says Bob Oakes, Chief Customer Officer, “We know the CalcFocus team can reconstruct policy rules and administer accurate values for hundreds of very different, older product type plan codes.”

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.