Pan-American Life Insurance Group (PALIG), a life, accident and health insurance provider in the US, has selected Infosys McCamish to provide policy administration services for its new Global Assets Indexed Universal Life (IUL) product.
The new product, to be available to high net worth international customers, offers policyholders the flexibility to select a fixed return account or one whose returns are determined by the performance of a major trading index, including the S&P 500 (SPX), EURO STOXX 50 (SX5E) and Hang Seng Index (HSI).
Infosys McCamish’s VPAS Platform supports 35 production customers in North America. It also offers support for life and annuity products, including individual and group, variable, fixed, indexed and repetitive payment products, among others.
Infosys McCamish Systems CEO and managing director Richard Magner said: “Infosys McCamish is delighted to partner with Pan-American Life Insurance Group in launching an Indexed Universal Life product to serve Pan-American’s international market.
“We have established an international service center to support one of the leading insurance companies throughout the Americas.
“The solution leverages VPAS, our state-of-the-art digital and integrated multi-language life and annuity platform, for quick product rollouts and superior service to the international market.”
Pan-American Life Insurance Group Global Life Division president Bruce Parker said: “We are thrilled to have Infosys McCamish as our partner in the administration of the new Global Assets Indexed Universal Life product.”