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SEG Software, CTS-Consulting Form Partnership

To leverage their combined core competencies to help life insurance and annuity companies implement SEG’s policy administration software package

SEG Software (SEG) and CTS-Consulting Group have announced a strategic partnership designed to leverage their combined core competencies to help life insurance and annuity companies implement SEG’s policy administration software package.

With insurers focused on reducing policy administration costs, the growing trend to replace out-dated legacy administration systems translates to new opportunity for the SEG policy administration system, coupled with the implementation services of CTS-Consulting.

Ric Young, senior vice president, sales and marketing of SEG, said: “There are quite a good number of life and annuity insurers actively looking for a new policy administration to replace their legacy platforms this year as compared to last year’s meltdown in the marketplace. The total cost of ownership and the inflexibility of their existing platforms are prompting more and more insurers to think out-side of the box and look for new alternatives.

“CTS-Consulting has the most experience per employee than any other consulting or system integrator we have talked with. They know the insurance industry and the legacy platforms, and they appreciate new technology. They bring a disciplined approach to helping carriers quickly transform their operations.”