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Athene Annuity First to Market with Enhanced Repetitive Payout Service from Infosys McCamish Systems
Infosys McCamish Systems LLC, an Infosys BPO company, today announced that Athene Annuity’s MaxRetiresm SPIA product is the first to utilize the new Repetitive Payment Management (RPM) functionality that augments its VPAS® platform.
Systems has been providing end-to-end platform based BPO services to Athene’s fixed and fixed indexed annuities since 2006.
The enhanced service offering allows for products to be configured and deployed
without the need for development, leading to improved speed to market for our carriers.
It allows them to provide innovative new payout products and riders quickly to the
growing annuity market based on the ease of the product configuration.
Given that tax regulations and product features for the qualified and non-qualified
annuity market are built into the platform, the VPAS® RPM solution supports qualified and non-qualified contracts with single and joint life options, with guarantee periods, if desired, as well as period certain options.
RPM offers robust fee deductions, optional payee elections, automated exclusion ratio calculations and easily supports multiple calculation methods.
The component lowers the risks and costs to carriers by providing one platform for accumulation and repetitive payout/ disbursement processing, since a single platform eliminates the need to issue a new policy on a separate platform when the contract annuitizes.
It enables seamless and automated processing using online product calculation engine for payout processing.
About Athene Annuity
A subsidiary of Bermuda-based Athene Holding Ltd., Athene Annuity & Life Assurance Company provides income solutions that help Americans prepare for retirement. For over a century, Athene Annuity has earned the trust of its policyholders through financial stability, integrity and service. Its main administrative office is in Greenville, S.C. For more information,
please visit www.AtheneAnnuity.com.
About Athene Holding Ltd.
Athene and its subsidiaries are focused on the retirement savings market. Athene’s principal subsidiaries include Athene Annuity & Life Assurance Company and Athene Life Insurance company, which are Delaware-domiciled insurance companies, Presidential Life Insurance company, a New York-domiciled insurance company, and Athene Life Re Ltd., a Bermuda-
Athene was formed in 2008 by James R. Belardi, formerly President of SunAmerica Life Insurance Company and Chief Investment Officer of AIG Retirement Services, Inc. and Chip Gillis, former head of Bear Stearns’ Insurance Solutions Group. Athene was initially funded by an affiliate of Apollo Global Management, LLC to provide solutions to the
growing need for tax efficient savings vehicles to support retiring baby boomers. The products offered by the Athene Companies include:
Retail fixed and equity indexed annuity products
Institutional products, such as funding agreements
Co-insurance and reinsurance arrangements with third party life insurance and annuity providers
Athene had $19.5 billion of GAAP assets and $2.2 billion of GAAP equity at March 31, 2013.
Further information about our companies can be found at www.athene.com.
About Infosys McCamish Systems
Infosys McCamish (www.infosysmccamish.com)
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth,
intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication
networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2013 and on Form 6-K for the quarter ended June 30, 2013. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and
Exchange Commission and our reports to shareholders. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company unless it is required by law.
For more information visit: http://www.infosys.com/
For more information, contact
Infosys McCamish Systems
Phone: +1 4048051156
Phone: +91 9972585052
Phone: +91 9379917540