The Festina Life and Pension policy administration system (PAS) can effortlessly handle the administration of the full suite of pension and life products. It is a proven, modular solution for life and pension products, handling policy administration, capital management, and money flows with total efficiency.

Pace-Layered Application Strategy

The platform has adopted Gartner's state-of-the-art pace-layered application and is specifically designed to provide strategic and business agility. The modular platform is categorised into three layers to ensure a core administration system empowers clients to deliver their commercial goals.

• Systems of Record Layer - Stability is key with this layer providing the core administration capabilities across DB, DC, CDC and life products. This layer provides the administrative backbone and enables agility in the upper layers. **

• Systems of Differentiation Layer - This layer also includes other components such as workflow, CRM and document management that be freely interchanged to ensure they do not inhibit the commercial strategy and customer proposition.

• Systems of Innovation Layer - presentation layers, customer proposition and UX can be continually innovated ensuring the client is able to compete and differentiate at will. The modular and layered application does not hamper proposition teams from executing on their strategic plan and roadmap.

Country Layer

From day 1, the technology has been developed to be rolled out in new international markets at speed. 80-90% of the codebase is common to all countries and clients with localisation required for country specific rules, e.g. tax, beyond core pension and life capabilities and processes.

API

The Systems of Record Layer is designed API first and all functionality and all data is available in a complete, well-documented API. The solution support both a synchronous REST API and an asynchronous API.

The REST API is fully compliant with OpenAPI 3.0 and is typically used by portals, workflows, document generation and the like.

The asynchronous API is fully compliant with AsyncAPI and can use several different message brokers, the async API can be used for both receiving and sending files but also for event driven architectures.

Modularity and Scalability

A suite of independent modular cloud-native components that together cover the backbone of life and pension. The platform is scalable from a few thousand up to hundreds of millions of polices.

Straight-Through-Processing

100% Straight-Through-Processing with full retroactive change for all business processes.

Client Configuration

Fully configurable by accessible low-code tooling. It can be fully configured to handle DC, CDC, DB and life, and it can support both individual policies and complex employer pension schemes.

International Standards for Organisation

The standard platform and implementation projects are fully compliant with ISAE 3000A and ISO 27001. The platform has been evaluated by Deloitte after ISO 25010 (ensure high-quality standards throughout the lifecycle of a software product) with an exceptional 4.8 out of 5.