Case Study: Retirement Advantage achieves 16-week digital launch and 300% increase in online quotations with Majesco

Majesco implement illustration and administration solutions in Retirement Advantage

Retirement Advantage, a UK life assurance firm founded in 1852 with a 500k-policy portfolio, wanted to rebrand and open a new broker distribution channel but was held back by multiple legacy batch systems. They needed a fast online solution to support annuity products with straight-through processing and online underwriting on a tight timetable.

After selecting Majesco in February 2008, Majesco implemented Life IllustratePlus and Life AdminPlus as a front-, middle- and back-office solution and delivered the project in 16 weeks, going live June 2, 2008. Within months Retirement Advantage exceeded online targets (300% of quotation goals, 20% of application goals, 10% of revenue targets), achieved straight-through processing and a single quotations engine with online underwriting, launched the new distribution channel in weeks, and went on to win four-star Financial Adviser Service Awards for three consecutive years.

Retirement Advantage