Data Life has been constantly developing our policy administration systems to provide accurate, timely and cost effective policy service. With our actuarial and insurance expertise we administer specialty products like private placements, survivorship variable universal life with the ability to handle up to 500 funds, and a multitude of universal life products and riders.

The user-friendly interfaces provide point and click menus making the system an intuitive environment for anyone with minimal insurance background and computer skills. User definable defaults and formula driven rate modules make it very flexible. Rounding Rules are modifiable to match a companies other support systems to ensure accuracy.

We can seamlessly integrate producers, underwriters, reinsurers, and home office support staff via the web allowing 24x7 access both onshore and offshore.

Our administration systems have been deployed in both large and small companies with as many as thirty interfaces into carriers existing systems. These include contracting, licensing, commissions, billing, actuarial valuation, accounting and decision support systems, to name only a few.



Policy transactions are performed in real time. No more waiting for the nightly cycle to process your transactions and to see the results of your changes.


Regularly scheduled events are defined based on the needs of each individual client. These events include monthly drafts for check service payments, commission statements, cycle timing, stock market driven processing, hedge fund, or illiquid asset valuation.


Transactions may be readily backdated over existing entries. The system will automatically reverse and reapply all appropriate transactions. The ability to bypass commissions and transaction confirmations is user selectable by case.


The system provides for full separate account processing including dollar cost averaging, fund rebalancing, and automating the correction of "bad" unit values.


Checklists and action items are assigned to each case based upon user-defined workgroup rules. Detailed follow-ups and completion notifications can be automatically directed to specific roles (users), or emailed to non-system users.


Producer contract and licensing status may be linked to a carrier's centralized system, or supported using our systems fully hierarchical data structure.

  • On-line policy value quotes including account value, cash value, loan values, death benefits, maximum loan, and withdrawal amounts,
  • On-line client reporting, including ad-hoc policy activity and accounting transaction history,
  • On-line policy valuation history reporting, and
  • Contractual changes.


The system currently supports the following life products:

  • Onshore and offshore private placement,
  • Variable and general account survivorship,
  • Variable and general account universal life, and
  • Traditional participating life.


The security in the system has been designed to allow only authorized users access to their data. Access to sensitive data such as confidential client information can be restricted (by role) to select individual users.

The Data Life Policy Administration System Requirements includes

I. General Case Tracking

User Interface

Case Types and Status

Plan Riders, Benefits, and Options

Notes, Attachments, Email, and Case Tracking .

Automatic Calculations and Validations

Other Case-Specific Data

II. Requirement Tracking

Notes

Automatic Ordering

III. New Business Forms Management

IV. Policy Issue

V. General Policy Administration

VI. Commission Processing

VII. Billing

VIII. Premium Collection & Application

IX. Policy Accounting

X. Contractual Change Processing

Beneficiary Changes

Address and Phone Number Changes

Reinstatements

Option and Rider Changes

Ownership Changes

Billing Information Changes

XI. Cash Suspense Clearing

XII. Separate Account Administration

XIII. Policy Page Printing

XIV. Policy notices

XV. Annual Statement Printing

XVI. Policy Loans & Loan Repayment

XVII. Death Claim Processing

XVIII. Partial Surrender (Withdrawal) Processing

XIX. Full Surrender Processing

XX. Policy Lapse with Non-Forfeiture Processing

XXI. Policy Dividend Transactions

XXII. Reinsurance

XXIII. Reserve Calculation

XXIV. Reporting

Reports

Graphs

XXV. Letter Generation

XXVI. Electronic Mail Integration

XXVII. Integrated Illustrations

XXVIII. System Security

XXIX. Interfaces

XXX. System Requirements

Data Life Associates Customer Care Policy

Whether a single person or a large corporation, Data Life Associates strongly believes that taking care of its customers has to be a corner stone of all its activities.
We are committed to providing the highest quality service, delivered responsively and cost effectively by well-informed professionals who take pride in what they do.

If you have any comments regarding Data Life Associates' commitment to its Customer Care Policy please feel free to contact our President, Simon Jacob.

E-mail:
sjacob@datalife.com

Write to:

Data Life Associates, Inc.
Attn: Simon Jacob
500 Bloomfield Avenue
Verona , NJ 07044
United States of America

Tel:+1 973 239 7500 x226