Trusted Third Party Administrator Selects CalcFocus for Rollforward Policy Migration and Quality Plan Administration for Platform Conversion of Seven Carriers’ Voluntary Benefits Universal Life and Whole Life Plans

Philadelphia, PA, March 13, 2020 – CalcFocus is pleased to announce that a large, privately held, trusted third party administrator selected CalcFocus to manage the rollforward policy migration and quality assurance testing to convert the policy administration platform for seven carrier’s universal life and whole life plans.

The administrator’s destination platform leverages CalcFocus’ Forecast Inforce Illustration and Achieve Policy Administration components for real-time transaction integrations, including triggered statutory, administration and reserve (CRVM) premium calculations; for new business illustration and policy pages’ services; to directly link an on-demand CalcFocus inforce illustration ’as is’ and ‘what-if’ interface; for annual reporting web services; and to create downstream interface integration and reporting.  

The rollforward policy migration will create actionable policy history for the new administration platform, annual report continuity; taxable reporting continuity; and will ensure that the new platform can match results replicating real-life legacy platform financial events; and that the new platform can perform all required future policy processing and all upstream and downstream integration and reporting.

The comprehensive test plan, designed in partnership with the administrator, encompasses all aspects of the platform conversion.

“The CalcFocus team appreciates that our partner understands and invested in our accelerated policy migration methodology and quality assurance program that creates a repeatable process for acquiring and converting multiple blocks of complex product policies,” says Bob Oakes, program manager. 

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.