SE2- Next Generation Life, Annuities & Pensions BPS
Who Is This Vendor Assessment For?
NelsonHall's Next Generation Lifee, annuities and pensions BPS profile on SE2 is a comprehensive assessment of SE2's offering and capabilities designed for:
- Sourcing managers monitoring the capablities of exxisting suppliers of Life, annuities and pensions BPS services and identifying vendor suitability for life, annuitieis and pensions BPS RFPs
-Vendor marketing, sales, and business managers looking to benchmark
- Financial analysts and investors specializing in the support services sector
Key Findings & Highlights
This NelsonHalll vendor assessment analyzes Se2's offerings and capabilities in the life, annuities and pensions BPS sector.
SE2 is a niche BPS vendor specializing obly in the llife insurance and annuities markets. Born out of insurance company Security Benefit Life, Se2 was incorporated in 2005, (although its core product offering pre-dated that) and is today headquartered out of Topeka, Kansas.
SE2’s main propositions to its clients are to assist them to:
- Accelerate product innovation
- Increase speed-to-market for new product launches
- Expand into new market segments
- Acquire direct customers digitally
- Variabilize operating cost of open block
- Achieve effective cost structures for closed blocks
- Streamline administration of acquired blocks
In additon, SE2 provides financial product trading and prcing services to some of its, clients, with~$100m average daily trade dollars, and ~2,000 different funds serviced for ~120 fund companies in 2016 at a 99.98% accuracy rate. In general, SE2 aims to differentiate itsself form competing vendors by levering its 125-year life insurance heritage, it 'leading edge' end to end digital platform, and by positioning as a hyper-focused vendor that only focuses on the U.S. L&A insurance vertical. An estimated 75% of SE2's business is registered business, though it can provide full policy administrationn support for its clients. SE2 has ~20 Inforce TPA clients, of which ~50% also leverage SE2 for new product introductionn and open block administration. Its life and annuities BPS services are supported by ~2k FTEs, including those in India.
As of mid-2017, SE2 is undergoing a significant upgrade to its Aurum platform with the aiim of driving an improved customer experience, and incoroporating robotics, automation and new digital capabilities. This fized capital investment plan has an estimated cost of ~$80m; the investment began 18 months ago and is expected to be completed by the middle of 2018.
Scope of the Report
The report provides a comprehensive and objective analysis of SE2's next generation life, annuities and pensions BPS offerings and capabilities, and market and financial strengths, including:
- Identification of the company's strategy, emphasis, and new developments
- Analysis of the company's strength, weaknesses, and outlook
- Revenue estimates
- Analysis of the profile of the company's custommer base including teh company's targeting strategy and examples of currant contracts
- Analysis of the company's offerings and key servie components
- Analysis of the company's delivery organization including the location of delivery locations
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