Auto-Owners Life Insurance has selected a new end-to-end system, MphasiS-Wyde Wynsure software, for its life policy issuance and administration, billing, claims and reinsurance.
Selected against several other competing vendors, the technology will be implemented for life, health and disability insurance, and annuities.
Capable of being deployed at an insurance carrier for one or multiple lines of business, Wynsure is a multi-language, multi-currency, easily customizable software product.
Auto-Owners Insurance Company Information Systems & Technology senior vice president and CIO Bob Buchanan said Wynsure will help to increase speed to market as well as implement new products and enhancements quickly without the need of conventional programming.
"The Wynsure platform will also help us boost automation and process efficiencies to enhance responsiveness for our independent agents and policyholders," Buchanan added.
MphasiS-Wyde-Americas CEO Larry Erb said the rules-based architecture of the software allows insurers to easily customize their products without dependence on the vendor or IT staff.
Headquartered in Minneapolis, MphasiS-Wyde has deployed the technology platform at several insurance carriers in North America and Europe.
As a mutual insurer serving customers in 26 states, Auto-Owners Life offers life insurance, annuities, health insurance, and disability insurance.