WOODRIDGE, Ill.--(BUSINESS WIRE)--LIDP Consulting Services (LIDP), a provider of innovative and proven software solutions and related services designed specifically for the life, annuity and health insurance markets, today announced the availability of software-as-a-service (SaaS) deployment for its The Administrator – Titanium Edition (Titanium) solution.
To accommodate each carrier’s specific preference, a carrier can choose to implement the Titanium SaaS option in the cloud or hosted as a private cloud at LIDP’s Woodridge, Illinois location with a backup site at the Venice, Florida facility.
With the new SaaS option, LIDP is offering the insurance industry a modern life, health, and annuity administration solution that is able to be quickly and cost-effectively deployed as a key component of a carrier’s digital transformation strategy. The LIDP SaaS option is helping level the playing field, offering carriers of all sizes – even the smallest of carriers – the ability to affordably modernize back office core systems, swiftly enter new markets, and rapidly introduce new and innovative products.
The robust out-of-the-box capabilities offered with Titanium are both highly desirable and valuable in enabling the system’s quick implementation and easy path to successful digital initiatives – an issue on the top of the priority list of most carriers today as they strive to provide a high-touch and exemplary customer experience.
“As our industry moves more and more to a new generation of digital insurance shopping, purchasing and processing, we see our SaaS option as an ideal approach for carriers looking to easily and affordably leverage modern technology for back office operations, while they focus more time and effort on the front-end customer interaction, sales, and support,” commented Kimberly Duke, LIDP’s CMO and director of sales.
Duke continued, “The SaaS option also creates great opportunity for LIDP, giving us a strong solution to expand our footprint in all segments of the life, annuity, and health administration markets – from the smallest carriers to tier one.”
LIDP’s new licensing option introduced with the SaaS offering gives insurance carriers a low risk, monthly license option based on policy counts. Additionally, Titanium SaaS clients have access to new releases as well as an option to bring the system on premise under guaranteed terms. LIDP still continues to offer its standard perpetual licensing option.
Just like the on premise implementation, the SaaS deployed version of LIDP’s Titanium policy administration system is able to process all life, health, annuity products, including: fixed, variable, equity indexed, traditional, non-traditional, individual, and worksite on a single system. Designed for implementation and integration simplicity, Titanium is built entirely on Java Enterprise Edition (JEE) offering the stability, portability and scalability to power carriers, all with the benefits of LIDP’s 35 years of functionality development and experience invested in its original The Administrator solution.
Since 1979, LIDP has been providing innovative and proven software solutions and related services designed specifically for the life, annuity and health insurance industry. Today, over 80% of LIDP's staff is dedicated to the continued development and support of LIDP solutions. The company’s performance record and reputation illustrates its focus on and commitment to high quality and customer satisfaction. LIDP has an unblemished record in meeting customers’ expectations with no client litigation in its long history. For additional information, call LIDP at 630.829.7100 or visit www.lidp.com.