California-based Portuguese Fraternal Society of America (PFSA) is set to install Andesa Services’ cloud-based suite of life insurance solutions.
Under the deal, Andesa will offer policy administration, illustrations, and online agent and member portal services to PFSA.
PFSA executive treasurer and CFO Helen Vieira said: "Andesa’s solutions will allow us to provide policy information to existing members, bring new products to market faster via a streamlined sales cycle, mitigate risk, create efficiencies in the home office and more."
PFSA will convert around 38,000 active life insurance contracts to cloud-based administration systems of Andesa.
The agents of PFSA can access member data and submit new business applications through online agent portal of Andesa, with zero paper and a process that limits data entry to one-time. It will also allow to flow data directly from the illustration to the admin system.
Andesa Services president and CEO Ron Scheese said: "Updating to a modern and flexible technology platform can be a positive game changer for a fraternal organization.
"Our team is beyond excited that PFSA has chosen Andesa to partner in helping achieve their business objectives."
Andesa offers comprehensive and integrated policy administration, plan administration and support solutions for life insurance and annuity carriers and producers.