Perot Systems has announced that Erie Family Life Insurance Company, which provides life insurance and annuity products in 10 US states, has signed a multi-year policy administration contract with Perot’s TAG subsidiary.
Under the terms of the contract, Perot will consolidate Erie Family Life’s four platforms to one by migrating all products to Perot’s LifeSys policy administration system, and will provide a broad range of policy issue and policy management services, for both active and closed policies. Erie Family Life will retain sales service and support, claims adjudication, underwriting and actuarial responsibilities.
This agreement is part of Erie Family Life’s plan to boost its competitiveness in the life and annuity market, which includes enhancing its agent experience and working to provide top-quality service for policyholders. The move is also expected to result in significant cost savings for the insurer.
In addition, Erie Family Life plans to launch several new products throughout 2007, and will rely on Perot to help launch those products quickly while also providing service and support to keep pace with the products’ success.