This enhanced offering leverages SE2’s flagship technology to enable carriers to quickly implement a flexible, state-of-the-art insurance solution and bring new products to market with greater agility. The hosted or full-service life offering is an alternative to on-premise policy administration replacement initiatives.


“One major barrier to wider scale adoption of BPO using a consolidated platform is the time and cost required to move the existing products and policies to a new platform,” explained Celent’s Chuck Johnston, Research Director, Insurance. “Modern, configurable policy administration platforms in the hands of BPO providers with strong insurance expertise promise to reduce the time and cost of conversion. Celent believes this can greatly enhance the value of BPO offerings by both reducing the myriad support issues associated with antiquated “lifted and shifted” platforms, and making the data associated with these polices more accessible to the enterprise,” said Johnston.


SE2’s Director of Product and Services Development Mark Kelly stated, “Our variable cost model will substantially reduce customers’ operating expenses. It offers predictable per policy costs, which will contribute to lowering fixed costs.”


The integration of the FAST platform into the overall se² technology solution has provided a versatile customer centric architecture for bringing new products to market or replacing legacy systems. New product implementation at se² is generally estimated to take less than five months, depending on a number of variables and the complexity of product requirements.


Customized solutions are available for new, in-force and closed blocks of term, whole life, interest sensitive whole life and universal life, variable universal life insurance. Carriers may align processes for insurance policy administration, virtual mailroom servicing, commissions, licensing and appointments and billing.


“An important benefit of SE2’s distributed IT framework is that we provide high quality ongoing administration to support our clients when issuing and processing new business,” Kelly said.


The advanced solution is an outgrowth of SE2 ’s proven distributed architecture and service-first culture for annuity products. SE2 Annuity customers may now achieve similar operational goals for their life business.


For more information on life insurance policy administration technology and outsourcing services, contact Tom Spencer tom.spencer@SE2.com and visit SE2.com