TORONTO and NEW YORK, Feb. 8, 2018 /CNW/ -- Manulife and Vitech today announced that Manulife's Canadian subsidiary has licensed Vitech's V3® software as a new insurance administration solution for the Canadian Group Benefits business.
"We are honoured to add Manulife to the global Vitech/V3 community," said Frank Vitiello, Vitech's CEO. "We are excited to support Manulife in this important transformation initiative and we look forward to what we know will be a long and successful partnership."
V3, as licensed by Manulife, is a complete quote to claim solution that supports a broad range of group and individual insurance products including health, dental, life, disability, vision and other similar offerings. The solution will be leveraged across Manulife's Group Benefits business in a phased multi-year roadmap with Vitech as both software provider and system integrator. Manulife selected Vitech and V3 based on the software's functional capabilities and technical underpinnings; and based on Vitech's experience and capabilities as an insurance solutions integrator.
"Vitech and V3 will support our focus on providing customers and distribution partners with a seamless, fast and accurate customer experience," said Michael Doughty, President and Chief Executive Officer, Manulife Canada. "This is critically important in an industry where customer engagement and transparency are more of a priority than ever."
About Vitech®
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, and offers a cloud-based application hosting option. For more information, please visit http://www.vitechinc.com.
About Manulife
Manulife Financial Corporation is a leading international financial services group that helps people achieve their dreams and aspirations by putting customers' needs first and providing the right advice and solutions. We operate primarily as John Hancock in the United States and Manulife elsewhere. We provide financial advice, insurance, as well as wealth and asset management solutions for individuals, groups and institutions. At the end of 2017, we had approximately 34,000 employees, 73,000 agents, and thousands of distribution partners, serving more than 26 million customers. As of December 31, 2017, we had over $1.04 trillion (US$829.4 billion) in assets under management and administration, and in the previous 12 months we made $26.7 billion in payments to our customers. Our principal operations are in Asia, Canada and the United States where we have served customers for more than 100 years. With our global headquarters in Toronto, Canada, we trade as 'MFC' on the Toronto, New York, and the Philippine stock exchanges and under '945' in Hong Kong.
SOURCE Vitech
Elizabeth Wallis, +1 646 344 5299, [email protected]; Bev MacLean, Manulife, 416-852-8501, [email protected], http://www.vitechinc.com
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