Barbados-based Sagicor Financial Corporation (SFC) has extended its use of the Concentrix Insurance Solutions (Concentrix) GIAS policy administration platform.
Already using it for its U.S. lines of business, the software now will be used to process new individual life insurance business in select Caribbean countries.
“What’s especially impressive is the way we can bring new products on stream faster,” said Ron Blitstein, Executive Vice President and Group Chief Information Officer at SFC. “Sagicor can now introduce new products faster across a landscape of various currencies and country-specific regulations."
In addition to the ease of regionalization, Sagicor also plans to consolidate processing of products across countries.
“Through GIAS, we have an upgrade path and the partnership and responsiveness of Concentrix made the transition to a new system easy,” said Teri Townsend, Sagicor Vice President of Technology. “We attribute the implementation success to the Sagicor and Concentrix project teams’ working relationship. A significant outcome for Sagicor is that GIAS enabled us to streamline and modernize the business."
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