INTRODUCTION:

Capco led a third-party administrator (TPA) blueprint and roadmap effort tied to the white labeling of annuity products.Capco has significant annuity insurance experience ranging from establishing TPA agreements and evaluating their operations, to building out manufacturers’ processing ecosystems. The business capabilities in focus for this engagement were: Channel Management, Illustrations, Order Entry, Finance, Policy Admin, Regulatory, Customer Service, Claims Management, Intermediaries/partners, and the underlying Integration requirements.

WHY NOW?

Client was looking to partner with other smaller insurers to extend its formidable product and reinsurance strengths to grow assets under management.

HOW WE DID IT:

Capco completed a focused 60-day exercise to ensure a complete blueprint of TPA requirements for the client. This exercise documented and provided implementation costs to launch with a white label partner. Additionally, we built an ongoing pricing/revenue model for the TPA relationship.

WHAT WE DELIVERED:

IMPACT

• Capco delivered a roadmap representing critical path milestones and key dependencies to ensure delivery expectations and priorities were set.
• The roadmap was critical to engage with the partner to get to a letter of intent and ensure resources alignment with critical path workstreams.

DELIVERABLES

• A complete TPA blueprint focused on defining the minimum viable product using Capco subject matter expertise.
• Key Integration Point Documentation inclusive of all the ecosystem partners to ensure alignment.
• Capco provided cost and duration T-shirt sizing in coordination with client leaders for modifying or establishing new capabilities.
• A thorough TPA program roadmap with critical path milestones and key dependencies across workstreams and ecosystem partners.
• TPA scope of services / operating model definition and approach – with details around how the client will operate as a TPA and what the white label partner will own. For example, new PO Box, phone numbers, website URL, product admin, SLA/KPI reporting, etc.
• A detailed plan, including final decisions for capabilities and resource needs to move forward towards client goals.
• A pricing and administrative framework that outlines key factors including product setup costs, annual minimums, per contract electronic vs. paper costs, etc.