- Two industry leaders collaborate to offer comprehensive life, annuity and specialty administration services
- SE2’s Aurum technology platform will be offered as the preferred platform for new customers. NTT DATA’s investments into its LifeSys platform will continue including ongoing modernization improvements designed to enhance performance and value for current customers
TOPEKA, Kansas & PLANO, Texas – July 20, 2017 – SE2, a leading technology and third party administration (TPA) company for Life and Annuity (L&A) insurance industry, and NTT DATA Services, a recognized leader in global technology services, have expanded their partnership to create a comprehensive TPA capability that will include digitization, artificial intelligence, cognitive computing and advanced robotic process automation. The two companies have complementary assets and capabilities that together increase value and offer more robust offerings and choices for new and existing customers.
SE2 brings a unique combination of insurance domain knowledge, end-to-end TPA capabilities with their cutting edge Aurum platform and expertise in conversion to drive enhanced speed to market for new products across the L&A space. NTT DATA’s deep and proven expertise in TPA services uses their LifeSys platform for life, fixed and indexed annuities, as well as group and voluntary worksite products. In addition, NTT DATA specializes in information technology outsourcing, digital systems transformation services, legacy system modernization, cloud lifecycle solutions and advanced automation.
Strategically, the expanded partnership’s main objective is to leverage the innovation and intellectual property investments of both companies to expand the Aurum platform as the foundation of the new, integrated solution for legacy blocks and dramatically reduce time to market for introducing new products across the L&A industry. In parallel, NTT DATA will continue ongoing investments to modernize and strengthen the core LifeSys solution to improve the value delivered to its existing LifeSys customers. The combination of these unique assets and capabilities will be strategically integrated to deliver enhanced platform power, agility, client experience and process efficiency to the market.
“Through this partnership, both companies will jointly offer the SE2 Aurum platform and associated administrative services, supported by advanced automation, artificial intelligence and cognitive computing to help clients navigate the path to becoming a digital insurer and future proofing their businesses,” said Gautam Thakkar, CEO of SE2. “This expanded partnership also enables SE2 to take advantage of NTT DATA’s complementary, broad and deep insurance product knowledge and technology innovation to increase value to all carriers in the L&A market.”
“This partnership enables NTT DATA to expand our strategic partnership with SE2 and leverage their platform, deep L&A industry knowledge and technology investments to better serve our clients. In parallel, we will continue to invest in our LifeSys platform to ensure our existing clients continue to benefit from modern capabilities and expertise,” said Jim Milde, President, Financial Services and Insurance at NTT DATA Services. “By leveraging best-in-class capabilities from both of our companies, we share the unique position of collaborating innovatively to offer combined, superior solutions to both our portfolios of life and annuity clients.”
SE2 is a leading technology and third party administration company focused on the North American life and annuity insurance industry. SE2 has an unmatched track record in optimizing back-office operations to future-proof insurance companies. SE2 combines peerless industry domain knowledge with a leading-edge administration technology platform to help clients launch products rapidly, improve efficiencies, shift to a variable cost model and maximize profits while dramatically improving the customers’ experience. SE2 supports more than 20 direct clients, represents more than 35 carriers in North America and services more than 1,000 life and annuity products. SE2 has approximately $100 billion in assets under administration and has been recognized as an industry-leading innovator. In May 2017, SE2 was recognized as one of the “20 Most Promising Insurance Technology Solution Providers” by CIOReview. Visit SE2 at www.SE2.com to learn more. We also can be seen at LinkedIn.
In 2014, NTT DATA acquired a minority interest in SE2 Holdings, Inc., the holding company for SE2, a subsidiary of Security Benefit Corporation, bolstering the life and annuity solutions and services delivery capabilities of both organizations and extending their existing relationship. Jim Milde, President, Financial Services and Insurance, NTT DATA Services, joined the SE2 Board of Directors.
About NTT DATA Services
NTT DATA Services partners with clients to navigate and simplify the modern complexities of business and technology, delivering the insights, solutions and outcomes that matter most. We deliver tangible business results by combining deep industry expertise with applied innovations in digital, cloud and automation across a comprehensive portfolio of consulting, application, infrastructure and business process outsourcing services.
NTT DATA Services, headquartered in Plano, Texas, is a division of NTT DATA Corporation, a top 10 global business and IT services provider with 100,000+ professionals in more than 50 countries, and NTT Group, a partner to 85 percent of the Fortune 100.