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Vinod Kachroo | Chief Information Officer | SE2

SE2: Empowering Insurance with a Platform Led Eco-System Approach

SE2 is the best-in-class platform driven administration services provider to the US Life and Annuity Insurance Industry.
“We transform our client’s operations by leveraging our industry leading SE2 Aurum® digital platform and capabilities allowing them to reduce and variabilize book of business administration costs while also gaining the ability to rapidly launch new products and propositions in the US L&A insurance market.”
Carved out of a 125+ years old life insurance company, SE2 is a team of insurance experts, 100% dedicated to the life and annuity industry, who just like our clients live and breathe life and annuity insurance.
SE2 recently completed a large transformation program that saw the investing over USD $80M+ in modernizing its SE2 Aurum® platform to open up the architecture and build a complete ecosystem that provides its clients a best of breed operating model to run their operations, launch new digital channels and innovative products, and engage their policyholders. Some recently launched solutions equips its clients to build a launch direct to consumer solutions as well as to leapfrog into providing a digital age buying experience for existing channels. SE2’s model is shifting the industry value curve by harnessing modern digital technologies and cloud to provide a better, more efficient customer service experience at an optimized, variable cost model.
The Man Behind the Platform 
Vinod Kachroo is the Chief Information Officer of SE2. His influence towards the industry stems from success driving transformation efforts on the carrier side with companies like MetLife, AIG, and Prudential and more recently with SE2 where he spearheaded a massive three-year digitization initiative to create the SE2 Aurum® platform and the industry’s first fully functional life and annuity API. His approach for the platform was based on a 10×10 strategy, which required the platform to support 10x scale and be relevant at least 10 years out as technology evolves. The aggressive and fulfilling journey resulted in clear business outcomes and creation of the first end-to-end Life & Annuity digital platform with industry-leading digital architecture.
One of Vinod’s most groundbreaking innovations, made possible because of his initiative, was the ability for insurance carriers to issue a life insurance policy and deliver it to the consumers in approximately five minutes after the application is started as opposed to the industry average of more than 20 days. While there were many immediate innovative results, but the platform also was built in a way so that it can evolve and add new functionalities as technology continues to evolve. For example, SE2 is creating an AI engine, similar to Amazon’s Alexa or Apple’s Siri, which can be used in an enterprise setting.
Delivering a Future-Proofed Digital Platform 
Purpose built for life and annuity insurance carriers, SE2’s industry experts set out to provide the industry with the most modern, innovative technology platform and enhanced service delivery that will create an enhanced stakeholder experience throughout the entire policy lifecycle. Today, SE2 is the largest administrator of variable annuities in the United States and one of the most innovative third-party administration and technology companies serving the North American L&A insurance industry. As SE2 continues to help optimize insurance operations to future-proof insurance companies, it leads the industry in innovation solutions for areas such as RPA, blockchain, wearables, and machine learning. To achieve this leadership positioning in the marketplace, the company has undergone many transformations in terms of technology enhancements, services enhancements, and workforce development initiatives that have helped sustain its rapid and aggressive growth.
According to the company, their mission is to deliver a digital platform and a fully integrated eco-system that enables the industry to break away from legacy system and process challenges to embrace innovation. SE2 enables insurers to not just build products in an on demand usage based model on the SE2 Aurum Platform but to offer a digital age life insurance buying experience to American consumers.
Tackling Challenges and Future Roadmap 
According to SE2, a combination of demonstrated need for life insurance in underexplored markets and segments and the availability of new and sophisticated digital technologies is bringing carriers more opportunities to grow their businesses than ever before. Organizations that get digital transformation right will be in a position to meet existing and prospective customers’ expectations for tailored products and service, empower agents to earn consumer trust and confidence and put themselves in a position to meet regulatory, economic, and market uncertainties now and into the future. SE2 intends to focus on growth and value creation over the next 36 months with a singular focus on delivering a superior customer experience to the carrier partners, their distribution network and the end customer. The future is bright for SE2 as they continue to transform the life and annuity insurance industry and leapfrog carriers into the digital age.