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May 9, 2019updated 13 May 2019 9:55am

Prudential taps Vitech’s cloud-based insurance administration platform

Prudential Group Insurance, a business unit of Prudential Financial, has selected Vitech cloud-based administration platform V3 and V3locity to further bolster its insurance offerings.

V3 is a scalable, configurable administrative software, designed to fulfil the intiricate needs of insurance, retirement and investment organisations.

V3locity is V3 delivered as a Cloud-Native Solution on AWS and offers for turnkey simplicity, performance and scalability.

V3locity is being deployed with Prudential in a phased manner as part of overall growth strategy to expand its presence in the competitive voluntary product marketplace.

Initially, it has already been launched for enhanced accident and critical illness products and its new hospital indemnity product.

Prudential Group Insurance voluntary benefits vice president and business head Adam Gelman said: “We chose to partner with Vitech because their industry leading solution allows us to deliver our voluntary products with a high level of agility and flexibility.

“We are also excited that V3locity will be integrated in a way that will allow our members to leverage the strength of Prudential’s financial wellness offering.

We believe that market competitive voluntary benefit solutions combined with financial wellness education can be a game changer for our customers and their employees.”

Using the flexibility of the Vitech platform, Prudential will introduce more products and solutions that will further improve its customers’ financial wellness.

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