National Western Life Insurance Company (NWL®) launches Equisoft/manage, a flexible cloud-based policy administration system
PR Newswire
Fueling an aggressive digital transformation plan, NWL® launches a significant system modernization initiative together with the introduction of a new Fixed Indexed Annuity product.
PHILADELPHIA,
April 6, 2021 /PRNewswire/ -
Equisoft announced today the successful implementation of phase one of its cloud-based policy administration platform that will support NWL s Life and Annuity operations across the full policy lifecycle. The new platform, along with the new NWL® ChoiceOptimizer Fixed Indexed Annuity product, went live in February.
Subsequent phases of this large modernization initiative will further support NWL s objective to design, refine and enhance product and policy services in a nimble, cost-effective implementation environment developed to meet the diverse, changing needs of our distribution force and policyholders.
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National Western Life Announces Reinsurance Transaction
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AUSTIN, Texas, Jan. 18, 2021 /PRNewswire/ National Western Life Insurance Company ( NWLIC ), a wholly owned subsidiary of National Western Life Group, Inc. (Nasdaq: NWLI), announced today the execution of an annuity reinsurance transaction with Prosperity Life Assurance Limited ( Prosperity ), a Bermuda based reinsurer rated A- (Excellent) by A. M. Best. The effective date of the transaction is December 31, 2020.
In a strategic move to expand financial flexibility and provide opportunity for incremental earnings, the Company entered into an annuity reinsurance agreement with Prosperity, an emerging provider of customized and innovative reinsurance solutions to the life insurance and annuity industry, in a transaction encompassing approximately $1.7 billion in fixed annuity reserves.