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.
“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 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 in 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.