Our solutions portfolio for insurers includes BPS, emerging technology consulting and systems integration and maintenance.

Just as every person who buys life insurance is different, so too is every life insurance policy, product, carrier and regulatory environment.

For most life insurance providers, what matters most isn’t ready-made solutions, but the kind of deep, practical experience required to tailor services to a carrier’s specific situation. And that is exactly what we bring to the life insurance industry.

Life, Annuity & Retirement Business Processing Services

LKO’s Life, Annuity & Retirement Business Processing Service (BPS) helps insurers gain a competitive edge by handling routine back-office operations while you focus on revenue-generating activities. As a result, you will not only reduce costs and modernize systems, but better align business and operating models with process optimization. In the U.S., LKO is a fully licensed third party administrator where required.

Systems Integration & Maintenance for Insurance

We have strategic relationships with leading software companies that specialize in products and platforms specific to the insurance industry, such as agent compensation, claims processing and policy administration. Our team of business and technology experts will modernize your operations and attain best-in-class technology architecture while managing costs. LKO’s Platform Conversion Score (PCS) can help you decide when and where to make investments.

Future-Proofing Insurance

Deepening Insights, Reinventing Processes and Reshaping Services

Insurance carriers face an imminent sea change in how their mission-critical processes remain efficient, agile and innovative. Ensuring relevance in the future requires redefined business models fueled by heightened productivity across “business as usual” activities.

Developing a Comprehensive Safe‑Driving Program for Teens

Teen driving is a critical concern for families and a top‑of‑mind issue for insurers. Today, using advanced technologies such as telematics, the SMAC (TM) Stack (social, mobile, analytics and cloud), insurers offer all‑inclusive safe‑driving programs that help predict and prevent teen‑related accidents—in real time.

Advice Made Social

To remain relevant to today’s customers of insurance and retirement services, producers need to embrace social business practices that empower consumers, provide more personalized and meaningful interactions and result in more fruitful transactions.

Business Processing Services

Life insurance business processing is core to what we do. Every day we manage nearly 30 million life insurance policies, more than 4 million annuity contracts and 14 million closed block policies. Our business and technology experts offer carriers services that address any identifiable business process, simple or complex, to save money or transform an enterprise—or both.

Claims Administration

Our team has developed both group life and disability claims administration systems for major carriers. Leveraging LKO’s service-oriented architecture, they can reduce costs and administrative burdens.

Channel & Customer User Interface

Web portals built by experts specifically for the life insurance industry can enhance customer loyalty and streamline communications with employees.

Billing & Disbursements

More efficient and effective billing can reduce the cost of policy ownership and boost productivity. These solutions can also integrate with group customer payroll systems. We also specialize in consolidating multiple small disbursement systems into more efficient enterprise solutions.

Policy & Agency Administration

LKO’s custom solutions can manage, integrate and streamline policy administration. Properly tailored systems will reduce the cost of administering a wide variety of insurance products.

For your agents, learn how our agent compensation solutions include business rules for each separate insurance product you offer.

Testing & QA

Making sure your applications run flawlessly is both an important task and a difficult chore. LKO’s QA experts can help you every step of the way—or you can outsource the entire process to us.

Core Business Functions

We offer enterprise-wide resource management solutions including compliance oversight, HR systems and a wide range of accounting features. For core business functions, we assume responsibility for a wide range of back-office business functions. Engage LKO to reduce overhead and improve your customer experience.