SE2 Enables USAA Life to Expand Its Annuity Business
SE2, an industry leader in providing technology-driven third-party administration services, announced today their support launching the USAA Life Insurance Company (USAA Life) Single Premium Immediate Annuity (SPIA) on the SE2 Aurum® platform.
The SE2 Aurum® platform provides insurance carriers with 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.
The offering 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 company stated in a November 2019 news release.
“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,” said Gautam Thakkar, Chief Executive Officer of 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.”
SE2, an Eldridge Industries business, is a leader in technology-driven third-party administration services for the U.S. life and annuity insurance industry. SE2 has a proven track record in delivering platform led transformations for the life and annuity insurance industry. SE2 uniquely combines the maturity and peerless industry knowledge of its 125+ years of life insurance industry heritage with its end-to-end digital platform to enable the rapid launch of new and innovative products through existing as well as digital channels. SE2 currently administers nearly 2 million active policies on behalf of its 25+ clients. SE2 has over $100 billion in assets under administration and handles more than 200,000 new business applications annually. Please visit SE2 at www.SE2.com to learn more.
About Eldridge Industries
Eldridge Industries grows diversified businesses with a focus on Credit; Insurance and Insurance Administration; Real Estate; Sports and Media; Convenient Food; and Technology. In particular, the firm seeks to build and grow businesses led by proven management teams that have demonstrated leadership and experience to scale an enterprise. Eldridge is headquartered in Greenwich, Connecticut, with additional offices in Beverly Hills, New York, and London. To learn more about Eldridge please visit www.eldridge.com.