SEG Software, LLC, (SEG), a provider of policy administration software to the life, health, and annuity industries, has announced the introduction of SEG SaaS, the “software as a service” offering of its policy administration solution.
The SEG SaaS offering includes straight-through-processing capabilities for all lines of life and annuity products as well as modules for carriers with niche needs such as commission and payout processing. With SEG SaaS, carriers are able to take advantage of the cost and process efficiencies of SEG Admin’s technology and rules engine.
Tom Johnson, president of SEG, says: “In today’s tough economy, carriers have limited capital funds for long-term investments and large technology-related projects. Our SaaS delivery model offers carriers the ability to achieve quick time to market and gain the advantages of true straight-through processing at an extremely attractive price point.”
SEG’s rules engine technology enables each carrier to configure its product features and product calculations. In addition, regulatory requirements can be changed to meet each carrier’s interpretations of the statutes.