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Highlights: BPO Solution
Delivered business solution on time and under budget
Challenge
Within 90 days, Client A needed a new product in a new market (Private Placement) with a new distribution channel (a money manager) and new accounting procedures (separate accounts). Client A searched the business solutions market to identify a company to manage such unprecedented challenges and decided to outsource the policy administration of the product to McCamish Systems.
Evaluation
Client A lacked experience in the Private Placement market and relied upon the dedication of a talented McCamish project team to determine a common set of objectives and responsibilities. These were then outlined in a Pre-Implementation Study. Client A's product experts met with the McCamish team to discuss each of the product features the company planned to use. McCamish recommended its VPAS® Life application, which uses component-based architecture that is designed for rapid deployment of life insurance and annuity products, and has a whole range of additional separate account functionality, which in this case was critical to Client A's complicated PPVUL product implementation.
Solution
By selecting from a vast array of standard system options, Client A eliminated costly, time-consuming custom design and development without compromising product attributes or market appeal. Client A was the first to use the newly released version 3.0 of the VPAS® Life application.
Benefits
This approach substantially reduced the initial systems installation and development effort, which enabled McCamish to begin unit testing within the first two weeks of the start of the implementation project. Client A fully leveraged the McCamish Advantage in the product specialty market, and McCamish completed the project on time and under budget.
Testimonial—Client A's CEO
"This project met all of our goals. Like similar projects, it was complex and required significant communication and coordination challenges. I attribute much of our success to the ability, hard work and dedication of the McCamish team. They were able to improvise and quickly solve any problems that arose."
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For more information about McCamish Systems, please contact our Sales & Marketing group at Solutions@McCamish.com or call 800.366.0819.
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