Penn Mutual Deploys NaviSys Front Office™ Illustration System, Providing Enhanced Sales Tool to Agents and Financial Advisors

Part of Penn Mutual’s Initiative to Help Producers Build Their Businesses Through Enhanced Productivity

EDISON, NJ (September 22, 2003) – NaviSys and The Penn Mutual Life Insurance Company are pleased to announce their latest initiative, to deploy the enhanced version of NaviSys Front Office™ illustration software to Penn Mutual agents and financial advisors. Penn Mutual producers will use the software to propose life and deferred annuity products to their clients.

Jim Clary, vice president of sales operations said, “The new illustration system is a part of Penn Mutual’s key strategic initiative which is to make it easy for producers to do business with us. We chose to work with NaviSys because its approach and advanced technology will help us to streamline the sales process so that our producers can meet their clients’ needs more effectively and efficiently.”  

Mr. Clary continued, “In Phase I, Penn Mutual converted from an earlier version of the system to the Microsoft platform for the desktop. Over the next few months, we’ll implement Phase II of this project, which is to deliver the NaviSys Front Office™ illustration system over the web.  By doing this, our producers won’t have to wait to receive new CDs every time we add products or make changes to existing products.”  

Other features of NaviSys Front Office™ illustration software include:  

•  User-friendly, browser-based interface 
•  Desktop-publishing quality reports and graphics presented as .pdf files 

John Gorman, executive vice president of Front Office solutions, said: “Penn Mutual consistently speaks to us about growing its business by helping agents and financial advisors be more productive and ultimately more successful. This latest initiative, of which we are very proud to be a part, is proof of Penn Mutual’s commitment to its producers.”

Mr. Gorman added: “Our staff’s expertise in illustrations, combined with a calculation engine that handles everything from basic illustrations and solves to advanced markets and special product features, drive our success in this market. All of our solutions are platform-neutral, component-based and available both online and offline to suit producers’ varying work styles.”

Forty of the leading North American life insurers use NaviSys’ illustration systems.

About The Penn Mutual Life Insurance Company

The Penn Mutual Life Insurance Company is the nation's second oldest mutual life insurer. Founded in 1847, the company provides life insurance and annuity products through a national network of professional agents and financial advisors who help clients meet their financial needs with confidence. The company's national headquarters is located in Horsham, Pa., just outside of Philadelphia. Penn Mutual has more than 450,000 individual life and annuity policyholders and more than $42 billion of life insurance in force. 

About NaviSys 

Leading life insurers rely on NaviSys to streamline, simplify and transform their businesses. From front-line sales to back-office administration, we deliver advanced technology solutions that improve your operations, reduce IT costs and sharpen your competitive edge. We provide the talent, vision and commitment to help your business succeed. 

Our platform-neutral software solutions and strategic counsel empower life insurance carriers and distributors to create, distribute and administer insurance products through multiple channels. Seventy-five percent of the largest domestic life and health insurers and over ninety percent of the top annuity providers are NaviSys clients. Companies such as AIG/American General, Guardian Life, Prudential, AIG/SunAmerica, TIAA-CREF and Western Southern rely on NaviSys’ pre-built and customized solutions. NaviSys has offices in Edison, New Jersey and Ambler, Pennsylvania. www.navisys.com

Contact:                                             

Gail Nelson                                           
Vice President, Marketing - NaviSys                                         
800-775-3592/732.767.3601                                                           
[email protected]                             

Pat Beauchamp
Vice President, Corporate Communications - Penn Mutual
215.956.8354 
[email protected]
                                       

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