SE2, a recognized industry leader providing technology-driven third-party administration services for many of the top U.S. life insurance and annuities companies, today announced the launch of its Technology and Innovation Center in Pune, India. Spanning 35,000 square feet of space, the Center will be responsible for comprehensive solutions in life and annuities platforms.
The Life and Annuities leading insurtech service provider’s annual spend to exceed $10 million in India. Currently employs 600 associates in Gurugram and Pune and aims to increase the headcount to more than 1,000 by 2020.
New Pune Technology and Innovation Center to accelerate the digital journey of SE2’s proprietary and award-winning SE2 AurumTM technology platform.
SE2 India, headquartered out of Gurugram, started operations in March of 2019 and currently employs a team of 600 associates providing end-to-end service to SE2’s clients in the U.S. “India will enable accelerating the digital journey of the SE2 AurumTM platform with Pune being an innovation hub,” said Chirag Buch, Managing Partner, SE2 India. “Our centers in India further augment SE2’s ability to deliver end-to-end transformative solutions to our clients that includes technology implementation and seamless conversion from client platforms to SE2 AurumTM and for comprehensive business process operations.”
The SE2 AurumTM platform supports over 25 customers in the U.S. with over 1000 Life and Annuity products including traditional, variable, universal and interest-sensitive life as well as fixed, variable, indexed, and repetitive payout annuity products across every distribution channel including digital.
With Gurugram and Pune operations live, SE2 plans to increase its India headcount to over 1,000 employees by 2020 and doubling it over the next three years to support our growth plans.
“SE2 India operations will be an integral part of the company’s existing business operations. Our initial investments have been to the tune of $3.2 million with an annual spend of over $10 million infrastructure, technology and facilities. We will continue to invest in people, processes and technology to remain ahead of the curve by at least a decade from the industry,” Buch added.
“SE2 is providing next-generation capabilities and a full spectrum of integrated, end-to-end digital operation services to life insurance companies in the U.S.,” said Vinod
Kachroo, Chief Information Officer, SE2 LLC. “As insurers continue to tackle both the challenges and opportunities for the digital evolution, SE2 is helping clients future-proof their businesses and navigate this transformation with a digital-first approach.”
SE2 Digital Service LLP, India began operations in March 2019 with, approximately 500+ associates in Gurugram supporting Business Process Management for SE2’s top clients. The state of the art facility in Gurugram offers operational support to clients, and the Technology and Innovation Center in Pune provides the technology and innovative capabilities. The Indian operations is primed to provide full spectrum of services accelerating the Aurum platform, supporting conversion from the client legacy systems onto SE2 platform and providing operational support on an on-going basis, to transform the life and annuity insurance customer experience. With a highly collaborative work culture built on continuous collaboration, SE2 India offers a rich learning environment with significant training in technical and insurance products.
SE2, an Eldridge Industries business, is a leader in digital technology enabled third-party administration services for the US life and annuity insurance industry. SE2 specializes in transforming the life and annuity insurance customer experience through its comprehensive and flexible digital platform and ecosystem.
SE2 builds on its 125+ years insurance industry heritage to uniquely combine peerless industry knowledge with its end to end digital platform to enable carriers to rapidly create digital channels, launch products, optimize the cost of closed blocks, shift to a variable cost model, and improve efficiencies. SE2 has over 25 clients, services 1,000+ life and annuity products, has over $100 billion in assets under administration, and handles more than 200,000 new business applications annually. SE2 has an unmatched track record in delivering future-proofed next-generation business operations.