COSS, a leading insurance point of sale software provider and RGA Technology Partners, a wholly-owned subsidiary of Reinsurance Group of America, Incorporated (NYSE:RGA) announced that they have formed a strategic business partnership to provide AURA Point of Sale.
AURA Point of Sale contains the AURA Underwriting Rules engine within the COSSEnterprise™ iForms solution. The result provides a straight through e-application process, allowing insurers to apply underwriting business rules and a preliminary underwriting decision at the point of sale, while producing an electronic application ready for electronic signature.
“The producer now can have the best of both worlds — the ability to capture data in electronic form, paired with dynamic underwriting rules and decision making,” said Jym Barnes, President and Chief Executive Officer, RGA Technology Partners, Inc. “We are excited to be working with COSS in bringing AURA Point of Sale to insurers in North America.”
AURA Point of Sale can be implemented alongside an existing new business underwriting process or it can be a part of a complete automated underwriting solution using the entire AURA suite of products.
“COSS is pleased to be working with RGA on this new initiative,” said Jay Stevens, Chief Marketing Officer, COSS Development. “Working with RGA Technology Partners, we recognize that we have one of the top underwriting and reinsurance companies behind this product. Our combined efforts will add tremendous value to the electronic application process, allowing insurers to continue to differentiate through service”
For more information about COSS Development Corporation, contact Jay Stevens at 704.948.4103 or e-mail
jays@coss.com. For more information on the AURA Product Suite, contact Steve Bryzeal at 636.736.8010 or e-mail
AURAinfo@rgatp.com.
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COSS Development Corporation is an employee-owned technology company serving the financial services industry with point-of-sale solutions. Founded in 1987 with offices in Wisconsin, North Carolina and Georgia, COSS offers a complete suite of solutions, including product illustrations, hypotheticals, historical illustrations, asset allocation, needs analysis, advanced marketing, wealth distribution planning, intelligent forms and interactive agent training. COSS provides Web and desktop solutions in .NET.
RGA Technology Partners, Inc. (RTP) is a wholly-owned subsidiary of Reinsurance Group of America, Incorporated (RGA). RTP’s AURA solution leverages RGA's 30-plus years of underwriting experience with RGA’s underwriting rule sets integrated into the technology of RTP. AURA is designed to improve underwriting time service, manage risk consistently and reduce the costs associated with processing life insurance applications. It can be used in a traditional life insurance setting, in banks and call centers, and can be accessed by underwriters, agents, brokers and customer service representatives. For more information on RGA Technology Partners, Inc, visit www.rgatp.com.
Reinsurance Group of America, Incorporated, through its various operating subsidiaries, is among the largest global providers of life reinsurance. In addition to its U.S. operations, Reinsurance Group of America, Incorporated has subsidiary companies or offices in Australia, Barbados, Canada, China, Hong Kong, India, Ireland, Japan, Mexico, South Africa, South Korea, Spain, Taiwan, and the United Kingdom. Worldwide, the company has approximately $1.7 trillion of life reinsurance in force, and assets of $16.2 billion. MetLife, Inc. is the beneficial owner of approximately 53 percent of RGA's outstanding shares.