Six Louisiana Insurers Select QLAdmin Solutions
Staff Writer | May 26, 2016
Six small and privately-held life insurance companies in Louisiana have recently converted from their aging legacy system to the QLAdmin life insurance policy administration system.
Chris McCaul, president and CEO of QLAdmin Solutions, reports the new clients are: Rabenhorst Life Insurance Company, Pellerin Life Insurance, Mulhearn Protective Insurance Company, Melancon Life Insurance Company, Rockett Life Insurance Company and Wilbert Life Insurance Company.
The group initiative began as the brainchild of Eddie Mire, a consulting actuary with Rudd and Wisdom Inc. Mire is the consulting actuary for these Louisiana clients and understood the processing challenges and functional limitations his clients faced during daily business operation with the legacy system. It was a common practice for company leaders to contact each other to share insight and assist staff with troubleshooting. Since these companies shared a history and were accustomed to working collaboratively, it was clear they needed a common solution to their collective problem.
After initial meetings to discuss the group contracting possibility and logistics that would be involved for a project of that scale, all companies attended a day-long group software demonstration in September 2015 in Austin, Texas. A few months later, custom contracts were delivered to each company president with tailored small-company licensing, data conversion, and training fees.
While QLAdmin Solutions has a standing practice to help those companies with limited or no market options, the group contracting and implementation project proved to be an innovative and ultimately successful solution.
This is a first-of-its-kind group arrangement for QLAdmin Solutions. The six Louisiana insurance providers underwent simultaneous quoting and contracting; data conversion and validation; and implementation and training for the QLAdmin life insurance policy administration system.
QLAdmin Solutions develops and services their life insurance policy administration system and related tools for their clients and target market; the small to medium-sized life insurance company with traditional products. Clients include small and family owned insurance companies, fraternal benefit societies, mutual companies, credit unions, reinsurers, and funeral homes.
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