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TAI Version 3.70 Life and Annuity is Available Now

September 17, 2020 / Software Update, Software, TAI Software

TAI Version 3.70 Life and Annuity is Available Now

TAI’s latest release, TAI 3.70 Life is live and ready to improve your workflow. Take advantage of the latest features and advancements we’ve developed in collaboration with clients. Find out what’s new in this overview.

To meet every team’s business needs and prioritize the updates for this release we incorporated clients’ current needs, evolving considerations, and industry-wide demands to determine essential updates. For this version, changes are primarily focused on adding useful functions to assist with your workflow and organizing the user interface (UI) to be more intuitive.

If your organization is interested in an upgrade or new implementation, contact us today to start planning.

V3.70 Life Enhancements Release Highlights

  • Performance Enhancements: Smoother operations so you spend time working, not waiting.
  • Class Label Change on Rate Search Screen: Provides the information you need at a glance.
  • Partial Claim Payment Message: Alerts to ensure client applies the correct payment amount to claim.
  • Recapture Application: Streamlined ability to input and process recapture applications. A template and instructions will be provided to support use of this feature.
  • RECALC Application: Simplified recalculations that can be utilized with template and instructions provided by the TAI team.
  • GDPR - Right to be forgotten: Enhanced security measures to comply with EU GDPR regulation and other jurisdictions, to protect your clients’ security. A template and instructions will be provided to support use of this feature.
  • Banding Process: Improved processes to reflect your banding and flexibility to account for change in the industry.
  • Bug Fixes:
    • Rate Search Screen – The duplicate key error has been removed.
    • Policy Master Screen – There is now no error when searching for non-existent policy.
    • Code Tables – Classification grid now displays descriptions.
    • Termination Due to Death – Termination error is no longer received when the treaties are set up to bypass claims.
    • TAIB320 Program Claims Total Report – Corrected summation of legal and other expenses. 
    • EDI/EDT – No longer generates error message without input file. 

V3.70 Annuity Enhancements Highlights

  • Fields added to TAAFUND table for additional detail and data.
  • Batch/Bug fixes for a more intuitive user experience, including:
    • Age and Gender have been moved to Reinsurance Age and Reinsurance Gender for Treaty Terms processing
    • Increased bytes for the Cancelled/Terminated rows on the .csv input file to 230 bytes.

TAI recommends software upgrades every 4-6 years as support for older versions sunset annually, the attrition schedule can be referenced below. Get in touch with the team at TAI to get more information about what’s new and improved in TAI 3.70 Life and Annuity and how to get started with your upgrade.

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Written by
Pete Murphy