Partners Life
Taking group administration in-house from a TPA as a catalyst for growth.
Partners Life is a leading New Zealand life insurer. They had outsourced the administration of their group insurance business to a Third Party Administrator (TPA). However, a major acquisition, and ambitions to grow their group business became a catalyst to seek an administration solution their operations team could run in-house. After evaluating group policy admin solutions on the market, Partners Life selected Sentro.
The Challenge
Partners Life differentiate themselves by offering highly tailored solutions for their group customers. Schemes and memberships needed to be migrated from their TPA onto the Sentro platform. Policy and membership documentation needed to be branded to the needs of different customers.
Importantly, a very large scheme from their acquisition needed to be created and installed. This acquisition also put hard deadlines on the migration and setup activities.
The group operations team needed a platform that they could easily configure themselves, yet could also handle the plan variations between customers.
The Solution
Sentro worked collaboratively with the Partners Life team to configure their products and plans, set up and brand policy documentation, membership certificates and invoice layouts, and migrate schemes from their TPA onto the Sentro platform.
The Sentro customer success team works alongside the Partners Life group operations team, providing advice and assistance to help operations run smoothly.
Technology build
The project involved building migration tools that greatly simplified the initial setup for Partners Life. All other functionality was built via configuration on the Sentro platform. In future, an integration to the Partners Life claims admin solution (FINEOS) will be constructed.
The Result
Perhaps Partners Life CEO Naomi Ballantyne said it best:
“We have been looking for a group administration platform that supports our philosophy of tailoring our insurance products to our client’s needs, a vendor that understands us – our business model, our goals - and could work very closely and collaboratively with us. We wanted a long-term partner we can trust and rely on. We’ve found all that in Sentro”.
Partners Life fully migrated from their TPA to Sentro. They successfully launched the major scheme from their acquisition on Sentro on schedule.
Partners Life have nearly tripled their group insurance business since selecting Sentro, yet operate that increased business with the same sized operations team thanks to the improved capabilities that Sentro brings to group operations.
Partners Life were recently acquired by the Dai-Ichi group, and are well-positioned and prepared to grow their group business even further.
Book a demo to see how Sentro can help you optimise your group insurance business.
