Product & Actuarial Support
We lead with decades of product and system knowledge. Many clients come to us with their most complex products, and we have the experience and tools to support their needs.
When we engage with carrier partners, we strive to support early-stage product design that will be configured on our system and administered by Andesa’s expert team. Our credentialed actuaries support our carrier partners through the complexity of the life insurance business by ensuring compliance and creating new efficiencies.
The process starts when we enter a relationship with carrier partners. If they don’t have products finalized at the time of engagement, we ask to be involved in their internal processes so we can support the product design that will be configured on our system and administered by our team.
- Nearly 40 years of product and system knowledge
- Guidance through creation and implementation
- Value-added, strategic service offerings
- Optimized, efficient time to market
- Reduced costs and long-term ROI
COLI Industry Expertise
We’re the top provider in the COLI industry. If your company is looking for an entrance into COLI, we can guide you through the process and help you understand the most common features, functionalities, and administrative and reporting needs. A COLI case is not the sum of policies; there are calculations, optics, and reporting needs at the case, division, and policy levels. We can go up and down all hierarchical levels to design and capture data appropriately.
- Corporate-owned, bank-owned, and insurance owned
- Registered and private placement products
- Array of investment options, including variable, indexed, and illiquid
- Experience rating mechanisms
- Powerful undo and redo capabilities
- Configurable compliance interpretations
Andesa’s credentialed actuaries support our carrier partners with the complexity of the life insurance business by ensuring compliance and creating efficiencies. Compliance is critical to business, and we’ve defined the standard system approach to requirements for Section 7702, definition of life insurance, and preferred tax treatment. We can leverage these approaches in implementation or customize based on carrier interpretation. Our actuaries can build models to demonstrate or validate calculations performed in Andesa’s administration platform engine.
- Subject matter expertise
- Guaranteed calculation compliance
- Optimized code and solves within the system
- Efficient processing