NEW YORK, May 7, 2019 /PRNewswire/ -- Vitech®, a leading provider1 of administrative software solutions, announced today that Prudential Group Insurance is using Vitech's AWS-based cloud offering, V3locity, as Prudential's policy administration solution for voluntary benefits. Prudential's V3locity platform is being rolled out in a multi-phase implementation and began with the 2019 launch of Prudential's enhanced Accident and Critical Illness products and its new Hospital Indemnity product.
V3locity is being implemented as a central part of Prudential's overall growth strategy to execute an expansion of its footprint in the competitive voluntary product marketplace.
"We chose to partner with Vitech because their industry leading solution allows us to deliver our voluntary products with a high level of agility and flexibility. We are also excited that V3locity will be integrated in a way that will allow our members to leverage the strength of Prudential's financial wellness offering," said Adam Gelman, vice president and business head, Voluntary Benefits at Prudential Group Insurance "We believe that market competitive voluntary benefit solutions combined with financial wellness education can be a game changer for our customers and their employees."
Prudential will leverage the flexibility of the Vitech platform to add additional products and solutions that will further enhance their customers' financial wellness.
"We are thrilled to welcome Prudential to the Vitech family," said Jamie Vitiello, Vitech's Executive Vice President. "V3 is an end-to-end solution for insurance carriers looking to deliver new products and services while improving operations and modernizing their technology base."
About Vitech®, V3® and V3locity™
Vitech Systems Group, Inc. 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. For more information, please visit http://www.vitechinc.com.
V3 is a highly scalable, configurable administrative software that addresses the complex needs of insurance, retirement and investment organizations. It is an award winning, contemporary technology solution available for both on-premise or cloud-based deployments.
V3locity is V3 delivered as a Cloud-Native Solution on AWS. It provides for turn key simplicity, extraordinary performance and scalability and world-class security.
About Prudential Group Insurance
Prudential Group Insurance provides and distributes a full range of group life, long-term and short-term disability and corporate and trust-owned life insurance in the U.S. to institutional clients primarily for use within employee and membership benefit plans. The business also sells critical illness, accidental death and dismemberment and other ancillary coverages. In addition, the business provides plan administrative services in connection with its insurance coverages, and administrative services for employee paid and unpaid leave, including FMLA, ADA, and PFL.
Group Insurance coverages are issued by The Prudential Insurance Company of America, a Prudential Financial company, Newark, NJ.
The Prudential Insurance Company of America (Prudential), Newark, NJ
1 Gartner's 2018 Magic Quadrant Report. https://www.vitechinc.com/resources/