Verion™ policy administration
Policy administration for life and annuities, built for change.
The PAS reimagined for the agentic era, delivering the change velocity that drives better carrier outcomes.
Launch products, issue policies and administer contracts from new business through servicing and lifecycle events. Revise rates, riders, rules and product behavior without another IT project.
We will run your product, rate or rule change.
- Classify✓
- Build✓
- Validate✓
- Test✓
- Review · you
A product definition, built and tested.
Waiting on one person.
The agent works. The approval is yours.
Full policy administration
A product launch is the beginning of the contract.
One product model. A configurable lifecycle. Better servicing and retention.
01
Define and approve
02
Issue the policy
03
Administer in force
04
Service and change
05
Run lifecycle events
06
Complete the contract
07
Anniversary events and retention
ONE PRODUCT MODEL · ONE POLICY HISTORY · FROM ISSUE TO COMPLETION
Verion Product Hub
The people who own the products stop filing tickets to change them.
Product Hub is the workspace where the shelf is designed, launched and managed. Chief product officers, heads of life and annuity product, and actuarial teams work in it directly, instead of describing the change to someone else and waiting for a release.
See and control the whole shelf
Every product and version in one place. What is live, what is awaiting approval, what takes effect next.
Launch a product from its filing
Bring the filing you already have. Configure the product in hours. Your team signs off before it goes live.
Ask questions about your own products
Ask about a product, a rate or a rule. Get a grounded answer, and the record of how it got there.
Change with confidence
Compare two versions side by side. Test behavior before it ships. One approval path for every change.
A published version is frozen. A later change creates the next version, and every policy stays tied to the exact terms it was sold on.
The product model
Products are assembled from proven parts, not a blank sheet.
Build products from a reusable library of calculations, riders, schedules, crediting strategies, rules and product patterns. Each definition moves through a governed lifecycle and retains its history.
300+
Reusable product components
16
Model insurance products built, each with a validation report
6 weeks
For a new product launch*
*Against the category’s published baseline of 7–12 months for a first implementation (Celent). Ask us to demonstrate it on your product.
Most systems call themselves configurable. Ask who has to do the configuring.
A system of change, not a system of record.
A new product or a version change
How we ship it. Define, evaluate, approve, administer, trace.
From your documents to writing business, the whole path on one governed track. A product specification becomes a structured definition, moves through review and produces a validation record — a checkable artifact, not a claim.
01
Bring the documents
Your filing, rate sheets and prospectus, as they are. No translation project.
02
Verion drafts the configuration
Standards-aligned product definitions, rate tables and lifecycle rules, drafted from your own documents.
03
Evals gate it
The draft is tested before anyone sees it. A failed condition stops it here, visibly, with the condition named.
04
Your people approve it
Review, approve, effective-date. Sign-off is the gate to production.
05
It is live, and it is traceable
Quotable, administrable, versioned. Every policy written from here traces to this version, and you can see which remain on the prior one.
Nothing reaches review without passing every stage. Products are assembled. Evaluations test. People approve.
Product and policy depth
Products that evolve across a lifetime, administered on one foundation.
Change velocity means nothing if the math underneath is shallow. The product definition continues to govern the policy after issue.
Retention at maturity
“Renew or cash out” is a false choice.
One worked example of configurable lifecycle behavior.
A $500K guaranteed term ends in 30 days. The customer wants income, but not all of it.
Roll the whole
Term
One option
Annuitize the
Balance
One option
Or simply
Cash out
The money leaves
Or do
Both
50 / 50
- Detect✓
- Offer✓
- Split✓
- Apply✓
- Suitability✓
- Issue✓
Half to income, half into a new guaranteed term at whichever candidate term is paying the better guaranteed rate. The split, the threshold and the target product are product setup, not code. A new contract means a new application and suitability review, with owner, annuitant, beneficiaries and writing agent carried across.
Keep the money. Keep the customer.
Ask what changed
Policy administration that answers, and shows its work.
A product nobody has looked at since launch has still been changing. Knowing what changed should be a question, not a side project across four systems.
“I have not looked at this product since launch. What changed?”
Since launch: 3 rate tables revised, 2 new riders added, and eligibility rules updated to v2.4.
The answer is a lookup against the versions that ran, not a report someone assembled.
For policyholders
The policy your customers actually keep with them.
Verion puts the policy in the policyholder’s wallet, so it is always with them and always current. It reminds them when a renewal is coming, and lets them share companion passes with their beneficiaries, so the people who matter stay in the loop. Less friction for the customer, more engagement with the producer and the carrier.
- Renewal reminders
- Companion passes for beneficiaries
- Always current
- Carrier-branded
LIVE ON APPLE WALLET · GOOGLE WALLET COMING SOON
See the policyholder wallet experienceRegulatory foundation
Built to be examined.
Most systems treat compliance as features bolted on over time. We built it the other way around: the hard parts came first, and everything else sits on them. That order is the difference, because provability cannot be added later.
Provable, not asserted
Every value can be reproduced as of any date, using the exact rules and rates in force at the time. Not a report about the number, the number itself, rebuilt from the record.
No side doors
Every change is a permissioned transaction written to an append-only record. Nothing is edited after the fact, and the audit trail cannot be altered or deleted.
Every version on file
Rules and rates are versioned, so you can show what governed a policy on a given day and exactly what has changed since.
Show what was true and why, on any date.
Every policy traces to the product, rate, rider, rule and calculation that applied. When product management, finance or an examiner asks why a number is what it is, the answer comes from the governed definition behind the policy.
Conversions
Conversions, without the conversion project.
Most policy systems were designed for the business they already administer, not for business arriving from somewhere else.
Legacy plan codes, surrender schedules and state variants become validated configuration, so books move one at a time, on your schedule.
| Book | Arriving from | Becomes configuration | State |
|---|---|---|---|
| New business | Written on Verion from day one | MYGA 5 · v4.3 | Live |
| Term, 2009 to 2014 | Legacy core, 41 plan codes | 41 / 41 validated | Ready for sign-off |
| MYGA, 2016 to 2020 | Legacy core, 12 surrender schedules | 9 / 12 validated | In flight |
| Whole life, pre-2005 | Legacy core | n/a | Not scheduled |
One financial spine
The money runs on the same record as the policy.
On most platforms, billing lives in one system, claims in another, and the general ledger somewhere else, and the month is spent making them agree. Verion is built the other way around. Premiums, payouts and ledger entries are governed transactions on the same policy record, so a payment, a claim and its accounting entry are one event seen from three sides. Every dollar traces to the policy, and to the product version that governed it.
Billing
Premium billing, cash application and disbursements, on the policy record.
Claims
Death claims, distributions and payouts, valued against the contract.
Accounting
Continuous policy-level accounting, posted as each transaction commits.
One record for the policy and its money. What you bill, pay and post always agree.
See Verion run your product