The insurance industry is in the midst of a digital transformation, driven by the need for efficiency, scalability and adaptability to ever-changing business and regulatory landscapes. At the heart of this evolution is technology, which enables insurers to manage diverse asset classes, ensure compliance and produce accurate financial reporting. However, many insurers remain burdened by legacy systems—often installed “on premise”—that lead to data silos, manual processes and inefficiencies.
These challenges hinder productivity, accuracy and timely decision-making. To keep pace, insurance companies must modernize their investment operations and accounting processes by leveraging robust technology solutions and automation. Below, we outline five practical ways to simplify insurance investment operations while ensuring your organization is positioned for long-term success.
Partnering with a technology provider experienced in complex assets can bring the tools and expertise necessary to optimize trade capture workflows.
Daily reconciliations eliminate month-end close delays, allowing insurers to treat month-end as any other business day. Outsourcing non-core operational functions to a competent service provider can further streamline this process. For example, these providers can act as the first line of defense in resolving breaks or exceptions, only escalating issues to internal staff when necessary.
The result? Internal teams gain more time to focus on analytics, reporting and strategic decision-making rather than spending time resolving data discrepancies.
By streamlining the handling of alternative investments, insurers can scale operations without overwhelming internal staff.
Modernizing underlying technology platforms and infrastructure provides insurers with the ability to efficiently diverse and scale their investment portfolios, taking advantage of new asset types and investment opportunities that can provide incremental yield, without having to add additional staff or operating costs.
To that end, as insurers continue to increase allocations to alternative assets and private credit, it’s critical they also adopt technology solutions that are both agile and scalable. Outdated, Excel-based workflows are no longer sufficient to handle the complexities and volume of activity on today’s investment portfolios.
Modern solutions offer enhanced capabilities to:
SS&C Singularity is a cloud-based, multi-tenant, desktop and mobile-accessible platform designed to transform insurance investment operations. Through user-configurable online dashboards and advanced automation tools, Singularity supports real-time operational workflows, streamlines reconciliations and enhances the scalability of investment accounting across all asset types.
Supported by seasoned professionals, Singularity is not only a leading SaaS platform, but also offers outsourcing and co-sourcing services to augment internal staff and resources, for increased scale and operating flexibility.
Discover how SS&C Singularity can help simplify your investment operations. Request a demo today or download our "SS&C Singularity's Platform for Independent Asset Managers" infographic to learn more.
Conclusion
Simplifying insurance investment operations is not just about reducing inefficiencies—it’s about preparing your organization for long-term success. By automating trade capture, pricing, reconciliation and event processing, insurers can improve accuracy, productivity and decision-making while freeing internal teams to focus on high-value tasks.
Don’t let outdated systems and processes hold your organization back. Embrace technology, streamline your operations and unlock the potential of your investment ecosystem.