St. Louis, December 9, 2020 - RGAX, the transformation engine for Reinsurance Group of America, Incorporated (RGA), today announced that AURA NEXT has won Celent's XCelent award in the ‘Customer Client Base' category.
For the fifth time, Celent, a leading research and advisory firm focused on technology for global financial institutions, reviewed underwriting systems available to life insurers in North America. The findings were published in a report, “New Business and Underwriting Systems: North American Life Insurance Edition,” profiling 14 underwriting systems and ranking the top performers. Celent selected AURA NEXT (appearing in the report under its former name, AURA,) as a top performer, awarding it the leading Customer Base score.
“AURA NEXT has been providing life insurers an automated underwriting platform that offers insurers access to RGA’s underwriting and analytics expertise since 2002,” says Karen Monks, Celent life insurance senior analyst and author of the report. “They gained a large number of customers in the last 20 years. Their customer base, continued momentum in the market, and the fact that all new customers are on the latest version since RGA moved to a software as a service (SaaS) model in 2016 propelled them to the top in the XCelent customer base category.”
“To be ranked as the top performer by Celent is a distinction in which we take great pride,” said Chris Murumets, Managing Director, RGAX Americas. “We believe this recognition demonstrates that our AURA NEXT product provides our life insurance clients, of any size, with a competitive advantage through improved efficiencies and enhanced underwriting and are excited that our customer base continues to grow and lead the industry.”
Backed by RGA’s more than 50 years of underwriting expertise, AURA NEXT is an automated underwriting decision software that provides life insurance companies with a complete view of risk. Combining advanced analytics, predictive models, and machine learning as well as data visualization insights to refine strategic decision-making, AURA NEXT is highly scalable and allows for seamless integration with insurers’ other front and back-end systems.
To learn more, please visit www.rgax.com.
RGAX LLC is a wholly owned subsidiary of Reinsurance Group of America, Incorporated. RGAX was formed in 2015 as the transformation engine of RGA, leveraging the talent, resources, and insight of RGA’s 50+ years of innovation. As a global company with offices in the Americas, EMEA, and APAC, RGAX partners with carriers and entrepreneurs to incubate and accelerate new products and services to advance and expand the life insurance ecosystem. With a mission to help people live longer, healthier, more financially secure lives, RGAX is powering the next generation of data analytics, digital distribution, customer engagement, and insurance service solutions. For more information, please visit www.RGAX.com.
Reinsurance Group of America, Incorporated (RGA), a Fortune 500 company, is among the leading global providers of life reinsurance and financial solutions, with approximately $3.4 trillion of life reinsurance in force and assets of $82.1 billion as of September 30, 2020. Founded in 1973, RGA is recognized for its deep technical expertise in risk and capital management, innovative solutions, and commitment to serving its clients. With headquarters in St. Louis, Missouri, and operations around the world, RGA delivers expert solutions in individual life reinsurance, individual living benefits reinsurance, group reinsurance, health reinsurance, facultative underwriting, product development, and financial solutions. To learn more about RGA and its businesses, visit the company’s website at www.rgare.com.