Andesa’s Financial Administration System (AFAS) provides full turnkey processing and calculation of a client’s block of business - open and closed portfolios.
The system supports new business capture and issue, financial and non-financial transactions, billing, death claims, and all requisite data for downstream reporting and extract/interface. The calculation rules are shared by ADASTAR Illustration, Andesa's illustration solution.
The AFAS system handles the unique features of nearly every Life and Annuity product, both individual and group, managing over 80 products types.
• Life – Term, Whole Life, ISWL, UL, Variable
• Annuity – Fixed, Variable
• Individual and Group (can be co-mingled on the same system)
• Qualified and Non-Qualified, Survivorship, Private Placement, Stable Value, GICs
Andesa’s systems and web-based reporting capabilities support a myriad of products that are packaged for various advanced marketing concepts and benefit plans. Examples include:
• Life Events – Family Protection, Wealth Accumulation, Pre-Need, Final Expense
• Business Insurance - COLI, BOLI, Key Person, Buy-Sell
• Executive Benefits - Split Dollar, Switch Dollar, Executive Bonus
• NQDC - SERP, Elective Deferral
• Employee Benefits – Executive Carve-Outs, Supplemental Insurance
• Qualified - Defined Benefits, MPP, Profit Sharing
• Estate Planning Vehicles