The implementation of Equisoft’s SaaS policy administration system has enabled Seguros Banorte to automate processes across the carrier’s entire value chain and improve customer and agent experiences.
Montreal, April 3, 2024 – Equisoft, a leading global digital solutions provider to the financial industry, is pleased to announce the successful implementation of the Equisoft/manage policy administration system (PAS) that uses OIPA as its core at Seguros Banorte, Mexico. This go-live includes the migration of 27 million policies, from 31 products and 104 plans within Seguros Banorte’s Group Life Insurance business division.
With the implementation of Equisoft/manage, many of the complex manual processes have been eliminated. The new system has notably streamlined and automated their business operations. This has accelerated the flow of business, reduced bottlenecks, lowered operational costs, and ultimately improved customer and agent experiences.
The introduction of monitoring and validation tools ensured data accuracy and increased fraud prevention capabilities. The agility of the new core system provides Seguros Banorte with autonomous control over product changes and gives them a modern platform on which to build future innovation that drives growth.
“Replacing the core system of an insurance company of the caliber of Seguros Banorte and migrating millions of policies are not easy tasks. But we are thrilled to have successfully completed the first phase of the project,” said Mauricio Monroy, Vice President, LATAM and Spain, at Equisoft. “Our team of experts with many years of industry knowledge enabled us to help Seguros Banorte maximize the value of their digital transformation.”
Seguros Banorte is one of Mexico’s leading insurance companies. The company offers a complete and diverse portfolio of life insurance products, including Income, Term Life, Traditional, Whole Life, Endowment, and Non-Traditional Life Plans.
To learn more about Equisoft/manage, click here: https://hubs.li/Q02pZSfn0
Media contact: Beth Jarecki, Omnia Paratus, beth@omniaparatus.com