New York Life has implemented Majesco Rating in the cloud for its Group Membership Association Division, the companies announced today. The GMAD unit serves the insurance needs of more than 600 membership groups across North America.

The platform, installed in less than three months, allows New York Life to manage its group premium rates for multiple groups within a single system, reduce the time required for ongoing rating updates from weeks to days, and facilitate electronic payments for new business, according to the companies.

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