Constellation Insurance has selected SS&C Technologies Holdings to help manage its growing commercial mortgage portfolio.
Constellation Insurance has positioned itself a leading insurance holding company serving consumers and small business owners in United States and Latin America through its insurance subsidiaries. As of September 30, 2022, Constellation’s family of insurance companies have over $34bn in total assets under management.
SS&C is a global provider of services and software for the financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut, and has offices around the world.
Constellation has selected SS&C Precision LM™ platform to improve the efficiency, profitability and risk control of its portfolio.
Constellation expects the implementation to increase efficiency in the loan process, improve profitability and control risk. Precision LM’s cloud-based platform will also reduce the operational impact on Constellation’s IT staff.
Timothy Biggs, vice president, mortgages and real estate at Constellation, said, “We were impressed by SS&C’s expertise, infrastructure, and continued enhancement to its commercial mortgage technology. Precision LM is a robust and scalable solution, which will provide increased data and automation and improve efficiency and accuracy. Having Precision LM is especially important as additional regulations continue to be implemented.”
Bhagesh Malde, general manager, global head of SS&C GlobeOp, added, “SS&C is committed to providing innovative software and value-added services to commercial real estate lenders and insurance companies. This complex industry is evolving with increasingly complex stakeholder expectations. With our deep domain expertise and superior technology, we simplify commercial loan management for clients.”
Earlier this year, UK-based InsurTech WhenFresh, a supplier of data to UK insurers, lenders and other big data users, has unveiled a new cladding data set to enable insurers to better understand property risks.
Following six months of in-market testing with a group of existing clients, WhenFresh has launched the unique dataset to the wider market, providing property-level cladding data for each of the 485,234 properties within MDUs of 18 metres or more in height throughout the UK.
Keep up with all the latest FinTech news here.
Copyright © 2023 FinTech Global
