SE2 Opens Technology & Innovation Center in Pune, Expands India Operations

SE2, an arm of the Greenwich, Connecticut-headquartered Eldridge Industries and a recognized industry leader providing technology-driven third-party administration services for many of the top U.S. life insurance and annuities companies, on Wednesday 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 Digital Service LLP, India began operations in March 2019 with, approximately 500+ associates in Gurugram supporting Business Process Management for SE2’s top clients.

 

Vinod Kachroo, Chief Information Officer, SE2 LLC, said that 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. 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, he said.

 

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.

 

Chirag Buch, Managing Partner, SE2 India, said that India will enable accelerating the digital journey of the SE2 Aurum platform with Pune being an innovation hub. Their 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, he said.

 

The SE2 AurumTMplatform 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.

 

Buch said that SE2 India operations will be an integral part of the company’s existing business operations. Their initial investments have been to the tune of $3.2 million with an annual spend of over $10 million in infrastructure, technology and facilities. They will continue to invest in people, processes and technology to remain ahead of the curve by at least a decade from the industry”. 

 

SE2 continues to be recognized by industry analyst firms as a company that is at the forefront of insurance innovation and has won many industry awards for transforming the operations of the life and annuity industry. Some of the recent recognitions include ranking number 34 by Training® magazine on its Training Top 125® list for 2019 and being named ‘One of the Top 20 Most Promising Insurance Technology Solution Providers’ by CIO Review.