The insurer will use the software to augment data workflows, improve policy administration, and enhance distribution management for its Life Retirement divisions.
Symetra’s largest shareholders, White Mountains and Berkshire Hathaway, representing approximately 18 and 17 percent ownership of common shares, respectively, have agreed to vote in favor of the transaction.
The platform offers simplified exchange of real-time data while offering customizable experiences without drain on development resources.
The carrier’s Retirement Solutions Division will streamline and standardize the internal production processes that support a host of customer documents, including statements, confirmations of transactions and client correspondence.
The company rapidly implemented the solution, including deployment of an Adviser portal, sales administration, integrated underwriting engine, commissions processing, reinsurance reporting and CRM and data warehouse integration.
The combined company builds on Insurance Technologies’ ambition to offer a single platform as a service solution that supports the entire life and annuity insurance sales lifecycle.
The company will use the capital to invest in the growth of its core businesses of life, disability, home, and auto, as well as new no-exam life offerings and Policygenius Pro.
Fresh from its acquisition of Standard Life Canada, Manulife is using technology to differentiate itself on the basis of customer engagement, information management and analytics, efficiency and effectiveness, and accelerated solution delivery.
The Oklahoma-based life and health insurer will use VUE’s management suite to streamline its contracting, compliance and compensation processes.
The integrated offering aims to empower insurers to enhance value and profitability and personalization across the life insurance value chain.