SE2 and NTT DATA Expand Partnership in Life & Annuity Market
Staff Writer | July 24, 2017
SE2, a third-party administration company for life and annuity insurers, and NTT DATA 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 combination of insurance domain knowledge, end-to-end TPA capabilities with their Aurum platform, and expertise in conversion to drive enhanced speed-to-market for new products across the L&A space. NTT DATA’s 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 assets and capabilities will be strategically integrated to deliver enhanced platform power, agility, and 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,” says 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, L&A industry knowledge, and technology investments to better serve our clients. We will continue to invest in our LifeSys platform to ensure our existing clients continue to benefit from modern capabilities and expertise,” says 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 position of collaborating innovatively to offer combined, superior solutions to both our portfolios of life and annuity clients.”
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