By consolidating all lines of business on a cloud-based policy admin system integrated with advanced digital tools, the new platform will allow NSS Life to gain operational efficiencies and enhance both agent and member experiences.
PHILADELPHIA, Sept. 8, 2021 /PRNewswire/ - Equisoft, a leading global provider of digital business solutions for the insurance and wealth industries, announced today that the National Slovak Society of the United States of America (NSS Life) has selected Equisoft's insurance platform to replace its core legacy policy administration system. The transformational project aims to improve NSS Life's internal processes and drive their digital transformation with a focus on e-app and a modern member and agent portal.
The initiative will focus on modernizing their core policy administration capability by implementing Equisoft/manage, a turnkey cloud-hosted (SaaS) solution using low-risk, production ready business processes and leveraging Oracle Insurance Policy Administration. The project will also provide an enhanced member and agent digital experience across the policy life cycle, including the implementation of all their insurance and annuity products, new leading-edge e-application and agent portal tools, as well as the data migration of NSS's existing life insurance and annuity certificates.
"In addition to our primary goal of enhancing the overall user experience for our members and agents, this project will allow us to keep up with ongoing regulatory and compliance requirements, as well as improve our operational and reporting capabilities," says Joseph Stefka, Jr., President and CEO, NSS Life. "We felt that Equisoft's insurance solutions, data migration expertise, and proven track record with Fraternal organizations offered the best combination to help us implement our digital transformation strategy."
"We are excited to continue our support for the Fraternal market and welcome NSS Life as a new client. They are clearly committed to transforming their business," added Mark DePhillips, Equisoft's Senior Vice President, USA. "We look forward to working with their team to implement our product suite and ensure that they realize their vision."
National Slovak Society of the United States of America (NSS Life) is a 131-year-old fraternal benefit society domiciled in McMurray, Pennsylvania. NSS Life is America's oldest Slovak fraternal society and the ninth largest fraternal organization in the United States, based on net admitted assets. The NSS Life Mission is to provide their fraternal family with a sustainable measure of financial security via life and annuity products; while offering charitable, cultural, social and educational opportunities that benefit its members and their communities. More info at: www.nsslife.org
Founded in 1994, Equisoft is a global provider of advanced insurance and investment digital solutions. Recognized as a valued partner by over 250 of the world's leading financial institutions in 16 countries, Equisoft offers innovative front-end applications, extensive back-office services and unique data migration expertise. The firm's flagship products include a SaaS policy administration solution, CRM, financial needs analysis, financial planning, asset allocation, fund and portfolio analysis, quotes and illustrations, electronic application, agency management systems, as well as customer, agent and broker portals. Equisoft is also Oracle's largest and most experienced partner for the Oracle Insurance Policy Administration platform. With its business-driven approach, deep industry knowledge, innovative technology, and more than 800 experts based in Canada, USA, UK, Chile, Colombia, South Africa, India and Australia, Equisoft helps its clients tackle any challenge in this era of digital disruption. For more information about our products and services, please visit www.equisoft.com