BELLEVUE, Wash.--(BUSINESS WIRE)--Symetra is the winner of a 2021 Gartner Eye on Innovation Award for Financial Services in the Americas region. Gartner Inc.’s global award series recognizes innovative use of digital technology-enabled capabilities, products or services to highlight “best-in-class” financial industry initiatives launched within the past 12 months. Symetra received the award for its SwiftTermSM term life insurance platform, launched in June 2021.
“Symetra aims to help customers thrive in a changing world by offering solutions that enhance their financial wellbeing. With SwiftTerm, we set out to make term life insurance easier to understand and buy with a digital offering based on the customer’s desired experience,” said Mindi Work, senior vice president, Chief of Strategy. “SwiftTerm aims to deliver a simplified, end-to-end digitally native experience. Application, offer, payment, and policy delivery occur in 25 minutes or less for qualified applicants. From development to launch, we let the voice of the customer guide our efforts by focusing on removing friction in the apply-and-buy moments to deliver a fast, seamless digital experience.”
The SwiftTerm platform is modeled as a microservices-based event-driven architecture. It includes 120+ auto-scaling RESTful API’s, a centralized API plane for all transactions. The platform can ingest and publish millions of events and is built using a fully automated CI/CD platform that includes DNS, domains, and certificates. The real-time distributed system is powered by 16+ SaaS providers, utilizing best-in-breed technology from some of the top vendors in the market today.
Gartner received nearly 300 submissions in the financial services category from three regions: Americas; Europe, Middle East and Africa (EMEA); and Asia Pacific (APAC). Six finalists from each region are selected to present case studies during a virtual event. Winning honorees are selected by a poll of industry peers, benchmarking against world-class performance standards.
The identification of a Gartner award winner or finalist is not an endorsement by Gartner of any company, vendor, product or service.
Symetra Life Insurance Company is a subsidiary of Symetra Financial Corporation, a diversified financial services company based in Bellevue, Washington. In business since 1957, Symetra provides employee benefits, annuities and life insurance through a national network of benefit consultants, financial institutions, and independent financial professionals and insurance producers. For more information, visit www.symetra.com.