USAA Launches Single Premium Immediate Annuity on SE2 Aurum Platform

The SPIA is the first third-party distributed annuity offered by USAA Life through Fidelity Investments, a company SE2 has been working with since 2013.

(Image credit: Stacy Vitallo.)

SE2, a Topeka, Kan.-based  provider of technology driven third-party administration services for the life & annuity industry, has announced its support in launching the USAA Life Insurance Company (USAA Life) Single Premium Immediate Annuity (SPIA) on the SE2 Aurum platform.

The SE2 Aurum platform is designed to provide insurance carriers with what the vendor characterizes as a rich, engaging, fully-digital environment that enables them to quickly launch new products, create cost efficiencies and acquire new customers across all distribution channels. The highly configurable platform offers the flexibility to seamlessly integrate with external data sources and an extensive partner ecosystem.

Gautam Thakkar, CEO, SE2.

The SPIA is the first third-party distributed annuity offered by USAA Life through Fidelity Investments, a company SE2 has been working with since 2013.

“As the retiree population grows, this offering positions USAA [Life] well for the future to provide retirement solutions and ensure that our members and consumers at large have access to solutions that reduce the risk of outliving their savings,” the carrier stated in a November 2019 announcement.

“We are pleased to support USAA Life’s launch of its first third-party offering as they deliver on their mission to provide their members with the financial strength and security they need to and through retirement,” comments Gautam Thakkar, CEO, SE2. “Our company is aligned with USAA Life’s goal of providing its members with the support they need to plan for, and live in, retirement. We look forward to supporting USAA Life as they expand their retirement solutions and make them more accessible in the market.”

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Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at AnthODonnell@IIReporter.com or (503) 936-2803.

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