AI Magazine Issue 10 2018

14 Acquisition International - Issue 10 2018 SE2 is a leading technology and Third Party Administrator (TPA) focused on the North American Life and Annuity Insurance industry. Recently, 2018 Global Excellence Awards Most Innovative Insurance Business Process Solution Provider – 2018, and as such we spoke with SE2 to find out more. stablished in 2005, SE2 has been driving industry leading capabilities and helping the world’s largest life insurance and annuity carriers transform and optimize their back-office operations forward into the digital age. Born out of insurance company Security Benefit Life, SE2 combines their peerless insurance industry domain knowledge with their leading-edge digital technology platform Aurum to help clients accelerate product innovation, launch products rapidly, expand into new market segments, streamline efficiencies, shift to a variable cost model and maximise profits while simplifying compliance and dramatically improving the customers’ experience. As the life insurance industry modernizes the process of purchasing life insurance, more and more consumers are purchasing life insurance directly from insurers online. The need for a viable distribution model that makes it profitable to sell simple low face policies direct to consumer is only increasing. SE2 is making strides in the insurance technology space with the advanced architecture of the SE2 Aurum platform combined with the capabilities of SE2 Digital Direct Life— a sophisticated no-touch, end-to-end life ‘insurance as a service’ platform which transforms the way life insurance carriers acquire and engage with the vastly untapped and underserved mid-market and millennial customers. To connect with this underserved market segment, insurers have to alter their strategy to take into account the preferences of this market segment. SE2 Digital Direct Life leverages the advanced technologies of the SE2 Aurum Platform, which provides for all aspects of administration from application submission to the conclusion of the policy contract through claim, surrender, maturity or lapse. SE2 leverages the Insurance Ecosystem as a Service (EaaS) model to deliver a hosted, multi- tenant architecture with modularised functional components. Contact: Brian Brzezicki Company: SE2, LLC Address: 5801 SW 6th Avenue, Topeka, Kansas, 66636, USA Telephone: 785 438 1592 Email: [email protected] Web Address: www.se2.com Built by Innovation E 1809AI29 At SE2, their in-house functional components and the integrated industry services, make up their ecosystem. The functional components have been assembled using ‘best of the breed’ solutions. They ‘bought’ when industry-leading technology was available, and ‘built’ where they considered the SE2 design and knowhow to have a strategic advantage. Today, SE2 supports more than 20 direct clients, represents more than 35 insurance carriers in North America and services more than 1,000 life and annuity products. SE2 has launched over 30 new products for nearly half of their clients and has over 2.5 million policies under administration, $100 billion plus of assets under administration, have completed 30 conversions that involve 1.5 million distribution entities, manage ~$20 billion in new business premiums and issue 200K of new business applications annually. SE2’s unmatched record of success speaks for itself. SE2’s clients include various Tier 1 and Tier 2 insurers in the US. SE2’s strategic focus is to provide the most advanced and state of the art, innovative administration solutions to the life insurance industry for both in-force and new business. They take advantage of the latest InsurTech technologies and their industry knowledge and expertise to enable speed to market for product launches and administration services to carriers and their customers - both policyholders and distributors. To that end, SE2 has made significant capital investment into their technology platform and recently invested into the InsureTech start-up Life.io. Life.io is a customer engagement and data analytics company who is changing the way the way carriers engage with policyholders, allowing carriers to better understand what is happening in their customers’ lives so they can provide the right products at the right time. Driving change in the market on an ongoing basis, SE2 is pioneering the usage of robotic process automation, artificial intelligence, and predictive analytics to transform life and annuity insurance operations. The firms advanced domain lead technology is tailored and applied to solving the unique and ever evolving challenges of life and annuity carriers and will remain SE2’s focus as they look towards a bright and prosperous future. Visit SE2 at www.SE2.com or at LinkedIn to learn more. “The functional components have been assembled using ‘best of the breed’ solutions.”