Return to Homepage

Tech Directory Product Detail

AFAS Policy Administration from Andesa

Product Description:

Andesa Services’ suite of modern policy administration tools takes a transaction-based approach to product configuration, policy issuance and policy life-cycle events including both financial and non-financial processing, allowing life insurance and annuity carriers to achieve increased speed to market, lower costs, reduced risk and unparalleled data accuracy.

Developed over nearly three decades, Andesa’s policy administration offerings are eminently flexible and scalable, offering support for life insurance policies and annuity contracts from issuance to termination. Seven of the top 13 life insurance and annuity carriers rely on our software-as-a-service (SaaS) model to administer blocks of policies – basic and complex, open and runoff business, COLI/BOLI and more – reliably, and at a predictable cost.

Andesa’s core policy administration engine, the Andesa Financial Administration System (AFAS), is fully integrated with our illustration and web-based reporting engines. The result is uniquely accurate in-force policy value calculations, from any date, updated nightly and available at any time. Undo/redo and corrective processing are seamless.

Leading carriers use Andesa’s secure, hosted life insurance and annuity administration solutions to administer blocks of Individual and Group Product types, including:

  • Term life policies
  • Whole life policies
  • Universal life policies
  • Variable universal life policies
  • Private placement life policies
  • First- and second-to-die life policies
  • Fixed and variable annuities

Our policy administration systems are fully configured to each carrier, addressing their specific product and processing needs. At Andesa, one size does not fit all. Our role-based tools give control to the users who fully understand the aspects of their policy life cycle.