Philadelphia, Oct. 10, 2024 (GLOBE NEWSWIRE) -- CalcFocus, a provider of front and back-office Life, Accident, Health and Annuities insurance technology for both Individual and Group lines, announced today that Navy Mutual Aid Association (“Navy Mutual”), the nation’s oldest federally recognized Veterans Service Organization, has gone live with CalcFocus Forecast and Achieve end-to-end, as part of a multi-year initiative to move to a modern and open illustration and policy administration platform.
This initiative provides Navy Mutual with faster product introduction leveraging the CalcFocus Platform services-oriented architecture to rapidly integrate with the Navy Mutual ecosystem. To date, a large book of Whole Life, Term Life, and Annuity policies has been migrated to CalcFocus to take advantage of a new customer portal, enhanced billing and payment financials, and an annuity new business eApp.
“We are proud to support Navy Mutual’s intense focus on bringing unique products and services to military members and their families, and meet their high standard for customer service,” said Tommy McCahill, CEO, CalcFocus.
“The Navy Mutual team is easy to work with both on the business and technology side, enabling a very effective and collaborative process with the CalcFocus team. We look forward to working with Navy Mutual as they continue to improve their product and service capabilities”
Navy Mutual’s mission is to provide affordable life insurance and annuity products to military members, veterans, and their families, and to offer financial education and assistance to the military community at large. This project was done with a focus on customer service and making the buying process simple for the customer.
Their plan was to create a modern, best of breed platform to support all product and service needs going forward, and to migrate their existing book of business to the new platform. Navy Mutual’s deployment of the platform, including the CalcFocus Forecast and Achieve products, supports all policies and products with a simple, modern customer experience that serves the customer when, where and how they like.
“We could not be more pleased with this new system rollout. CalcFocus was a trusted partner through the life of the development process. Their team was responsive at all times, and their deep knowledge and expertise, not just of technology, but also the insurance industry, made a complex transition as smooth and transparent as possible. My staff, the ultimate judge in any system change, is incredibly impressed with Achieve’s capabilities – tasks that previously took hours have been reduced to minutes, providing improved experiences for both our Members and our staff. The launch of the new system spoke for itself: the system launched in the morning and employees were productively working by lunchtime on day one”, said Rear Admiral Brian Luther, USN (Ret.), Navy Mutual’s President and CEO.
About Navy Mutual
Navy Mutual is a nonprofit, member-owned mutual association established in 1879 to provide affordable life insurance and peace of mind to members of the military and their families. As the nation’s oldest federally recognized Veterans Service Organization, its mission and commitment to protect those who defend us remains unwavering. Financially strong, Navy Mutual is proud to be a first-choice provider of life insurance to servicemembers and their loved ones. Through quality life insurance products, no-cost educational and veterans services programs, and unparalleled service, Navy Mutual has earned the loyalty and support of its membership and outstanding customer satisfaction and retention ratings. For more information, visit www.navymutual.org.
About CalcFocus
CalcFocus was founded in 2014 by a group of insurance technology veterans in response to seismic changes in the life and annuity industry landscape. CalcFocus Forecast Illustration and Achieve Administration products are cloud-hosted web services to augment or replace selected legacy illustration and policy administration functionality; and CalcFocus services may be orchestrated to become a comprehensive enterprise policy administration and illustration platform. The CalcFocus platform was designed with a pragmatic approach to configurability and a dogmatic approach to quality.
In 2023, the CalcFocus’ Forecast Illustration System won the Advanced Technology award and was placed in the Luminary Quadrant in Celent’s North American Illustration Systems Report, indicating the product excels in both Technology and Breadth of Functionality. The Achieve Policy Administration System also won the Advanced Technology Award in the same year.
Learn more at www.calcfocus.com.
