NEW YORK, Feb. 1, 2016 /PRNewswire/ -- Vitech, a leading provider of insurance and benefits administration software, announced today that the Iowa Public Employees' Retirement System (IPERS) has entered into a contract with Vitech to upgrade its existing V3 system implementation to V3 version 10, the latest version of Vitech's enterprise software. The upgrade will improve customer service offerings for IPERS' 350,000 members, representing about 10% of the state's population.
Version 10 includes enhancements to user experience and system performance, a broader offering of business intelligence tools, and new customer service capabilities. Version 10 is also the pathway for Vitech's new Mobile Application offerings.
The launch of this project marks another major milestone in a partnership that began in 2006, when IPERS contracted with Vitech to develop a new enterprise platform to administer benefits for employees across the state. In 2011, the final rollout of the multiyear implementation was successfully executed jointly by Vitech and IPERS. Since then, IPERS has used V3 for enrollment, demographics, group billing, benefit payments, document management and customer service. IPERS' employers and their employees also enjoy the convenience of web-based self-service capabilities through V3.
"We are thrilled to continue our long standing partnership with IPERS via our V3 platform," said Jamie Vitiello, Executive Vice President at Vitech. "Together, Vitech and IPERS will continue to improve operations and achieve further excellence in customer service."
"V3 has helped us continually improve the quality of customer service we are able to offer Iowa state employees, while maintaining our mission of cost efficiency," said Rick Hindman, Chief Technology Officer at IPERS.
V3 is a highly scalable and configurable administration solution designed to meet the unique needs of insurance, retirement and investment organizations. Built on contemporary technology, V3 is a browser-based system that includes native functionality for business functions including billing, enrollment, benefit calculations and self-service as well as enterprise functions including workflow, CRM and imaging capabilities.
About Iowa Public Employees' Retirement System
IPERS was founded in 1953 to provide a cost-effective core retirement benefit that helps attract and keep quality employees in public service. IPERS benefits were designed to provide an adequate retirement income when combined with social security benefits and individual savings. The fund serves over 350,000 members, with assets of $28 billion.
Vitech is a leading provider of administration software to insurance, retirement and investment organizations. Vitech provides its clients with proprietary enterprise software, related implementation services and ongoing support, and offers a cloud-based application hosting option. For more information, please visit http://www.vitechinc.com