NEW YORK, Jan. 29, 2015 /PRNewswire/ -- Vitech Systems Group's V3 System, an administrative software solution for insurance, retirement and investment organizations, has been rated as a 'Best-In-Class' solution for User Experience by CEB TowerGroup's "Life and Annuity Policy Administration Systems Technology Analysis" report. The report assessed vendors across 22 different system attributes spread across 4 categories: policy lifecycle, operational support, user experience, and enterprise support.
The report found the V3 System's enterprise capabilities, such as its customer relationship management and deep investment management functionality as key differentiators from competitors. This combination of features "makes it ideal for insurance investment products that are used for supplementing retirement-like structures."1
The Life and Annuity Policy Administration Systems Technology Analysis focuses on vendors with mature products, recognized innovation and multiple large-scale installations with major asset insurance firms. Evaluations were conducted by CEB TowerGroup analysts and based upon a series of interviews and surveys with financial services executives, industry experts and vendors.
"With 44% of L&A insurers increasing policy administration spending, they'll look for solutions with an intuitive user experience across many insurance and investment products to provide efficient, high-quality customer service," – CEB TowerGroup research director, Sam Stuckal.
Frank Vitiello, President of Vitech Systems Group, said, "CEB TowerGroup's recognition of the V3 System's strengths in enrollment, billing and investment administration align with our objectives of providing customers with a seamless administration platform that helps them manage the unique complexities of the insurance industry."
Technology Assessment Disclaimer
CEB does not endorse any vendor, product or service depicted in our CEB TowerGroup publications and does not advise technology users to select only those vendors rated "best in class." CEB TowerGroup research publications consist of the opinions of CEB TowerGroup's analysts and should not be construed as statements of fact. CEB disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
About Vitech Systems Group, Inc.
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 www.vitechinc.com.
1CEB Towergroup, Life and Annuity Policy Administration Systems Technology Analysis, CEB, 2014.
SOURCE Vitech Systems Group, Inc.