Vitech has confirmed that another Tier 1 insurance firm has selected its V3 software for insurance administration.

The US-based insurance carrier administers more than $1 trillion in coverage, the technology vendor said.

The insurance company will deploy V3 for policy administration, enrolment, billing, payment processing and customer service across a range of insurance products such as life, disability, accident, critical illness and hospitalisation.

Vitech added that the solution will be deployed through a multi-phase rollout using its Agile methodology. Vitech will also act as integration partner.

Vitech CEO Frank Vitiello said: “We are thrilled to be selected to support this prominent carrier’s business transformation and ongoing mission-critical operations.

“Our V3 software will allow the carrier to modernise its systems and enable the delivery of a world class customer experience for many years to come.”

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Designed as scalable and configurable administration software, V3 meets the complex requirements of insurance, retirement, and investment organisations.