Prudential Selects Vitech's V3locity for Cloud-Based Group Insurance Administration

NEW YORK, Sept. 8, 2020 /CNW/ -- Vitech Systems Group announced today that Prudential Group Insurance has signed a long-term contract to use Vitech's V3locity^® as Prudential's new core administration platform across its entire group insurance business.

Prudential will use V3locity to administer a broad range of insurance products including Accident, Critical Illness, Hospital Indemnity, Term Life, Short and Long-Term Disability, Universal Life, Variable Universal Life and more. The insurer's decision to leverage V3locity across its entire group insurance business is aligned with Prudential's overall growth and transformation strategy and follows the successful implementation of V3locity for its voluntary benefits business in May 2019.

"Our business strategy is centered on meeting the demands of our current and future customers, who are looking for a tech-forward experience," said Jamie Kalamarides, President of Prudential Group Insurance. "Transforming our end-to-end customer experience requires collaborating with the right technology partners. Our previous experience with Vitech's V3locity platform, which supports a broad range of insurance products and has an advanced cloud-native architecture has given us great confidence in the platform and in Vitech as a long-term partner."

V3locity is Vitech's cloud-based administration, engagement, and analytics platform. It is a transformative suite of complementary applications that offer full life cycle business functionality and robust enterprise capabilities. It marries core administration with a revolutionary digital experience. Its modular design enables flexible, agile deployment strategies. V3locity employs an advanced, cloud-native architecture that leverages the unique capabilities of AWS to deliver a solution with unparalleled security, scalability, and resiliency.

"We are thrilled that Prudential has chosen V3locity as its long-term administration platform," said Frank Vitiello, CEO of Vitech. "This certainly solidifies V3locity's position as the premier choice among leading group benefit organizations. We look forward to supporting Prudential in every way we can as their strategic technology partner."

About Vitech^®

Vitech is a global provider of cloud-based benefit and investment administration software. We help our clients expand their offerings and capabilities, streamline their operations, gain analytical insights, and transform their engagement models. Vitech employs over 1,200 professionals, serving over 100 of the world's most successful insurance, retirement and investment organizations. An innovator and visionary, Vitech has been recognized by Gartner as a Magic Quadrant "Leader" for four years running and by Celent as a three-time XCelent award winner. For more information, please visit www.vitechinc.com.

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, professional associations and affinity groups, primarily for use within employee and membership benefit plans. The business also sells voluntary products, including 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.

SOURCE Vitech Systems Group

Media Inquiries: FOR VITECH: Yaffa Cohen-Ifrah, [phone], [email protected]; FOR PRUDENTIAL: Monique Freeman, 973-634-8325, [email protected]