Insuretech firm SE2 opens Pune centre

PUNE: American insurtech service firm SE2 opened its new Technology and Innovation Centre in Pune, to support the firm's US operations with a total investment of nearly Rs 100 crore in the country.

The company already has a centre in Gurugram where it has 550 employees and plans to double its overall India headcount to over 1,000 by the end of 2020.

SE2 is the technology-driven third-party administration services provider for many of the top US life insurance and annuities companies.

"With our new end-to-end digital platform, we can deliver insurance policy within 5-7 minutes while it took nearly 5-7 weeks to do the same for the insurance companies," Vinod Kachroo, Chief Information Officer at SE2 LLC, said.

This is made possible because company had invested $85 million over the last few years to create its new technology platform which enabled their customers to launch products and offer new services a lot faster than before.

"We have a 10x10 vision, which is to scale the business ten times and have the technology remain relevant for 10 years from now," Kachroo said.

He said the Pune Technology and Innovation Centre and SE2 India's headquarters in Gurugram will cater to 66 per cent of the present two million policies in the US market.

"As our business grows, the investment in India and the work done out of here will grow at the same pace or higher," Kachroo said.