Digital solutions provider Equisoft has implemented its Equisoft/manage policy administration system at Seguros Banorte.

This means that 27 million policies from 31 products and 104 plans within the Seguros Banorte Group’s life insurance arm have migrated.

With the implementation of Equisoft/manage, many complex manual processes have been removed.

In addition, the system has streamlined and business operations have been automated. As a result, business has accelerated and operational costs have decreased.

Furthermore, the introduction of monitoring and validation tools ensured data accuracy and increased fraud prevention capabilities. The agility of the core system provides Seguros Banorte with autonomous control over product changes and gives them a modern platform on which to build future innovation that drives growth.

“Replacing the core system of an insurance company of the calibre of Seguros Banorte and migrating millions of policies are not easy tasks. But we are thrilled to have successfully completed the first phase of the project,” said Mauricio Monroy, vice president, LATAM and Spain, at Equisoft.

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“Our team of experts with many years of industry knowledge enabled us to help Seguros Banorte maximise the value of their digital transformation.”

Global digital solutions provider Equisoft has also opened a new office in Trinidad, Port of Spain.

This is the tenth international office for Equisoft and celebrates the firm’s 30th anniversary.

Furthermore, this expansion bolsters the company’s position as a pioneer in digital transformation solutions for the financial services industry.

In addition, Equisoft has been a technology provider to insurers in the Caribbean since 2012. Equisoft’s work with around twenty insurers in the region created the need for the office to get nearer to the market and its customers, as well as to address surging demands in the Caribbean.