Source: FIS Software
A leading life insurance company Delta Lloyd Life has awarded FIS Software, a global leading provider of complete package-based software solutions for life and pensions organizations headquartered in Cardiff, a multi-year, multi-million GBP contract for the implementation of ALIS as their new policy administration system across their portfolio of investment, risk, mortgage and savings products.
Delta Lloyd Life will use ALIS to replace several current back office systems that are managing the Delta Lloyd business in Belgium. The new ALIS-based system provides a web-based environment, managing both back office and front office operations, and will include a data migration. This will enable Delta Lloyd Life to bring significant improvements in the administration of products and services to end-customers.
Caspar Van Haaften, Chief Operating Officer at Delta Lloyd Life says: "We selected FIS for this critical project because of the functional richness of the ALIS product, and their proven ability to implement large scale solutions quickly and cost-effectively. We have been impressed with the expertise and dedication of the FIS project team, and their understanding of our core business needs. It's a relationship that will greatly benefit us and I consider it a long term one."
Shay Alon, CEO of FIS Software, says: "We are proud to be selected by Delta Lloyd Life and are dedicated to the success of the project. ALIS software, combined with FIS' insurance expertise, will help Delta Lloyd Life increase their competitive advantage in today's modern, dynamic marketplace. Entering the Belgium market is another significant step forward in the implementation of our strategy to become the leading Policy Administration solution provider supporting the complete range of international Life, Pension and Investment business lines on ALIS' consolidated software platform. We are delighted to see our focused investment in the European market yielding positive results"
The decision to implement FIS' ALIS system followed a critical project evaluation phase, which was geared to defining the policy administration platform replacement programme. Delta Lloyd Life has invested in the new system to achieve a number of key objectives in addition to improving efficiency, including: reducing operating costs, improving customer service and reducing the time to market for new insururance products.
The implementation project will consolidate the current multiple policy administration solutions, common applications solutions and infrastructure components. ALIS will support a broad range of product sectors including investment & savings products, risk products and mortgage protection products.