Technology Innovator Awards 2018

42 Corporate Vision / Technology Innovator Awards 2018 , Most Innovative Insurance Business Process as a Service Provider 2018 SE2 is a leading technology and business process as a service (BPaaS) provider focused on theNorthAmerican life and annuity insurance industrywith an unmatched track record in optimizing back-office operations to future-proof insurance companies.We profile the firm to explore how it has come to achieve the phenomenal success it enjoys today. Headquartered in Topeka, KS, SE2 was established in 2005 with a vision to be the service provider of choice for the end-to-end administration of life and annuity policies. Since inception, SE2 has gone on to become one of the largest life and annuity TPA providers in the industry; providing comprehensive and efficient operations coupled with cutting-edge technology to transform clients into digital insurers. Born out of insurance company Security Benefit, SE2 combines their peerless insurance industry domain knowledge with their leading- edge administration 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 maximize profits while simplifying compliance and dramatically improving the customers’ experience. Today, the firm is continually investing in their state-of-the- art technology, responding to external demands (customer or industry) and internal drivers (internal stakeholders). When it was first established, SE2 was a Third-Party Administrator focused primarily on taking on closed books and supporting acquired blocks. However, since 2012, SE2 has been enabling rapid product launches and supporting open blocks and this has led to SE2 becoming a strategic growth partner and not just an efficiency and optimization partner. SE2 has through its unique insights and deep investments in digital technologies evolved into an engine for innovation and a partner that is leading transformation of its clients into digital insurers. Significant advancements in the technology industry - including the rapid onset and maturity of robotic process automation, analytics and cognitive technologies - has completely changed how insurers need to operate and interact with their customer, partners and employees. SE2 is on journey to transform its comprehensive and highly efficient business operations to be next-gen digital operations and one that will drive future- ready levels of customer service and efficiencies in life and annuity insurance operations. Currently, the company counts over 20 life insurance carriers as clients and has an unmatched track record of having converted over two million policies over to its platform and currently has over $100 billion in assets under administration. However, what sets SE2 apart is that a majority of its clients also leverage SE2 to launch new products rapidly in the market. SE2 handles over 180,000 new business applications annually and supports on average 15 new product launches in any month period. Over recent years, SE2 has launched over 30 new products for nearly half of their clients. SE2 has over 2.5 million Policies under Administration, $100 billion plus of Assets under Administration, has completed 30 conversions services over 1.5 million distribution entities, TI180019 Purpose-built, reliable, end-to- end operation services Gautam Thakkar | CEO of SE2