United Heritage Life Insurance Streamlines Operations with Equisoft Tech
United Heritage Life Insurance Company, based in Meridian, Idaho, has implemented Equisoft's advanced cloud-based policy administration system to enhance digital capabilities for managing its annuity products. This strategic move is designed to streamline operations and improve regulatory compliance in alignment with industry standards. Equisoft/manage aims to boost operational flexibility, allowing the insurer to swiftly introduce new products to the market, thereby improving its competitive edge.
The deployment incorporates multiple modules such as Equisoft/manage for policy administration, Equisoft/apply, and AppCapture for seamless application processing. By unifying agent activities into a singular digital ecosystem, United Heritage seeks to enhance the efficiency of its annuity operations—from underwriting and application processing to claims management—on a scalable platform designed for growth.
Johanna Hale, Senior Vice President and Chief Transformation and Risk Officer at United Heritage Life, acknowledged the constraints of their previous system in scaling operations and quickly launching new products. She stated, “We’re now well-positioned with a modern platform that will support our growth objectives, and we look forward to expanding to other products.” The decision to leverage Equisoft's insurance technology is supported by their capacity to meet industry and regulatory compliance requirements efficiently, affirmed by Todd Gill, President and CEO of United Heritage Life.
According to Mark DePhillips, Senior Vice President of USA operations for Equisoft, the successful go-live demonstrates how robust technological foundations can enhance operational efficiency, improve customer service, and enable swift responses to market opportunities. Looking forward, United Heritage Life plans to extend the use of the Equisoft platform to include its preneed life insurance offerings by 2026, reflecting its ongoing commitment to modernization and digital transformation.
Anthony R. O’Donnell, the Executive Editor at Insurance Innovation Reporter, a veteran analyst of IT in the insurance industry, can be contacted at AnthODonnell@IIReporter.com for further insights.