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Kane LPI Solutions - Transforming Life & Annuities BPS with End-to-End Digitalization

Vendor Analysis

by Sven Lohse

published on Mar 13, 2020

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Report Overview:

This NelsonHall assessment analyzes Kane LPI Solutions'  offerings and capabilities in Transforming Life & Annuities BPS with End-to-End Digitalization.

Who is this Report for:

NelsonHall’s comprehensive assessment of Kane LPI Solutions’ (Kane) life and annuities (L&A) business process service (BPS) offerings and capabilities is designed for:

  • Sourcing managers monitoring the capabilities of existing suppliers of business process outsourcing and identifying vendor suitability for RFPs
  • Vendor marketing, sales and business managers looking to benchmark themselves against their peers
  • Financial analysts and investors specializing in the support services sector.

Scope of this Report:

The report comprehensively analyzes the company’s L&A BPS practice:

  • Strategy, emphases and new developments
  • Strengths, weaknesses and outlook
  • Target market
  • Offerings and associated technology capabilities
  • Delivery organization, including locations and partnerships
  • Breakouts of L&A BPS specific revenue and delivery resources.

Key Findings & Highlights:

In 2017, the Kane management team completed a management buyout of all Kane LPI operations from the Kane Group. Since then, Kane has expanded its client list from 10 to 17 logos.

Kane is headquartered in Bermuda and its U.S. corporate office is in Duluth, GA. The company is licensed by the Bermuda Monetary Authority, under the Investment Funds Act 2006, as a fund administrator. In addition, Kane has offices in Malta, Dubai and Mauritius. Kane's offerings are in:

  • Life, annuities, and pensions BPS
  • Fund administration.

IMS: Kane runs this proprietary platform for policy administration; a web-based platform runs all of Kane’s offerings for open/closed book business. It includes online tools for advisors and transaction capabilities, multi-currency and multilingual options, as well as the ability to create a personalized dashboard of KPIs for platform users.

Revenues

NelsonHall estimates that Kane’s CY 2019 revenue from L&A BPS at:

  • Open book: 83%
  • Closed book: 17%

Total revenues: $12m

Strategy

Kane intends to continue focusing on smaller, innovative carriers with niche products.

Kane will continue to avoid work in labor-intensive processes such as claims, recoveries, and death claims. The company is focused on performing highly software-dependent processes.

Open book business will remain Kane's primary focus. It has recently launched a new product line which enables online applications for life insurance on a straight-through processing basis through to premium collection. API enabled fully digital solutions are also a major area of focus in the Unit-Linked space.

Kane is further investing in its proprietary platform delivery capabilities to drive future growth, by developing products in underwriting and reinsurance workflows. It is also looking to optimize its regulatory upgrades for local market applicability. In future, Kane wants to offer the IMS platform on a SaaS basis.

The roadmap for IMS includes integration of micro-services to facilitate integration capabilities with channels and with databases, payment processing (credit card, debit card in Europe and ME), and integration with banks for automated premium processing and integration of the carrier's general ledger.

Kane's focus for expansion is on carriers located in the Europe, Middle East, and Africa. 

Table of contents:

Table of contents:

  • Background
  • Revenue Summary
  • Key Offerings
  • Delivery Capability and Partnerships
  • Target Markets
  • Strategy
  • Strengths and Challenges
  • Outlook

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