Andesa Services CEO Ron Scheese was recently interviewed for a well-known executive publication. Below, you can see excerpts from the conversation.
How has Andesa changed in your 18 months as CEO?
Scheese: The changes that have occurred in the last 18 months have really been a focus on continuous improvement of our processes, our technologies. We have historically enjoyed great client satisfaction, great employee satisfaction, so you continue to focus on those areas and continue to do what you can to improve those measurements but that is pretty much the changes that have come about. It is just a continued focus on what we do well and making it better each and every quarter and each month.
What makes Andesa systems special?
Scheese: By definition, policy administration is all that needs to be done to be the system of record for a life insurance policy. All of that data from the time the policy is issued through all of those renewals, terminations, cancellations, restatements, claim settlement etcetera, that policy administration system has to be the system of record for all of that. Our core systems, our core calculations really provide all of that in-force policy value calculation, they track all of that information and allow our carriers to basically have access to that information. When I think about what makes our systems unique or what makes them special like maybe highlights two or three things, first off, we deal with sensitive financial information.
For us, accuracy is critical. When a carrier client entrusts us, we know that we are going to be responsible for that policy for thirty to fifty years and we take that trust seriously, so our systems are designed to make sure we have accurate enforced policy value calculations. We have designed our systems to be seamless with regards to retroactive processing and recalculations of values, so it allows clients or carriers to report using an as-of date basis but it solves a huge administration issue with regards to un-do, re-do, and corrective processing.
Is the industry becoming more comfortable with the cloud?
Scheese: It is a growing percentage of the business. These are financial products that sensitive information security becomes the key driver for much of the decisionmaking when it is considered on a cloud based computing model. For some of the problems they are trying to solve the cloud solution makes more sense. If they want to get into a product or to market with a new product faster, if they are uncertain about the success of that product in the market, and they want to be able to put something into the market in a rapid manner on a lower initial investment and trial, the cloud makes sense.