SE2: Robust Process Optimization Solutions

“A majority of life and annuity insurance carriers today deal with legacy applications inherited or built over time, that have become inordinately expensive to maintain and manage,” points out Gautam Thakkar, CEO, SE2. Maintaining outdated systems and bearing high infrastructure costs is not a viable option for insurance carriers already burdened by market volatility, regulatory pressures, and changing customer investment patterns. As the life and annuity insurance carriers strive to enter new markets and launch best-of-breed products, they have an inherent need for end-to-end process optimization solutions to support their dynamic business requirements. Born out of an insurance carrier, the Topeka, KS-based SE2 is on a mission to future-proof the life and annuity insurance carrier’s operations. With unparalleled expertise in optimizing back-office operations, SE2 offers insurance firms a potent combination of industry domain knowledge and cutting-edge back-office administration technology ecosystem. “We are a new generation technology led Third Party Administrator (TPA) built by insurers for the insurance companies in North America and that’s what sets us apart,” emphasizes Thakkar.

SE2 delivers transformative end-to-end operations services and a comprehensive vendor administration technology ecosystem—SE2 Aurum—used as a system of record, product configurator, and an end-to-end system in the life and annuity insurance landscape. SE2 Aurum is an advanced platform with multi-tenant architecture and features a compendium of capabilities. In addition to enabling a shift to variable cost models, the SE2 Aurum platform allows insurance carriers to augment efficiencies and enter new markets, while catering to their need for agility and innovation. “The new business area is about agility and capability where cost is not a key driver, so launching a product relatively quickly is a decisive factor in gaining an edge in the marketplace,” states Vinod Kachroo, CIO, SE2.

Additionally, SE2 offers a comprehensive set of capabilities for clients irrespective of their distribution models—captive or independent—even if they function in a direct-to-consumer marketplace. In one instance, SE2 launched a fixed-indexed annuity for a client in 7 weeks, setting an industry benchmark. The client leveraged SE2 Aurum to successfully launch a new product offering even though they were in the midst of a substantially large conversion process that involved multiple platforms.