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Major Insurance Carrier Selects V3 Version 10 in Ten-Year Deal

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Major Insurance Carrier Selects V3 Version 10 in Ten-Year Deal

PR Newswire

NEW YORK, Aug. 13, 2018 /PRNewswire/ -- Vitech, a leading provider of insurance administration software, announced today that a Tier 1 insurance carrier has signed a comprehensive ten-year deal that makes Vitech's V3 solution the carrier's primary administration platform for a life and annuity business servicing over one million lives.

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The deal provides for the implementation of V3 Version 10 along with the delivery of future version upgrades, new insurance product capabilities and subscription-based support and maintenance services. This is a comprehensive arrangement that will contain the carrier's total cost of operations while securing the delivery of mission critical software and services for at least the next ten years.

"We are excited to be able to partner in such a long term, strategic way with such a prominent insurance organization," said Frank Vitiello, Vitech's CEO. "This long-term mutual commitment will allow us to help the carrier expand its product offerings, improve its ongoing cost structure and delivering an ever more superior customer experience for the next decade or more."

About Vitech® and V3®

Vitech Systems Group, Inc. is a leading provider of administration software to insurance, retirement and investment organizations. Vitech provides its clients with proprietary enterprise software, related implementation services and ongoing support in both cloud based and on premise models. For more information, please visit http://www.vitechinc.com.

V3 is a highly scalable, configurable administrative platform that addresses the complex needs of insurance, retirement and investment organizations. It is an award winning, contemporary technology solution available for both on-premise or cloud-based deployments.

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SOURCE Vitech

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