RGAX today announced AURA NEXT, the SaaS-based underwriting decision management platform from Reinsurance Group of America, Incorporated (RGA) and RGAX, completed a Service Organization Control (SOC) 2 Type II examination performed by an external auditing firm.
Automated Underwriting and Risk Analysis® (AURA®) was launched by RGA in 2001 to provide life insurers with an automated underwriting platform backed by RGA's more than 40 years of industry expertise. The most recently released version of the software is known as AURA NEXT, and it is one of the leading solutions for automating underwriting in the global life insurance industry today.
"We are incredibly proud of the tremendous effort put forth by our teams to accomplish this as well as our commitment to the continual improvement and evolution of the AURA NEXT platform," said Tonya Blackmore, Senior Vice President, Head of SaaS, RGAX. "Completing the SOC 2 Type II examination will give our clients an understanding of the processes, controls, and operating effectiveness in place on the AURA NEXT platform related to security, availability, and confidentiality."
Developed by the American Institute of Certified Public Accountants (AICPA), the SOC 2, or Service Organization Control report, is an examination of controls at a service organization relevant to Security, Availability, Processing Integrity, Confidentiality or Privacy. Working with an independent public accounting firm to complete the examination of controls under the SOC Type 2 AICPA standards continues to be a priority investment for RGA.
AURA NEXT combines RGA's expertise in underwriting and predictive analytics with advanced decision management functionality to help carriers improve the new business client experience and assist carriers in selling more life insurance. The SaaS-based delivery ensures all AURA NEXT clients are utilizing the most current version and allows for fast, accurate, consistent underwriting decisions. These capabilities provide life insurance clients, of any size, a competitive advantage through improved efficiencies and enhanced underwriting. For more information about the award-winning AURA NEXT platform, please visit rgare.com.
About RGAXRGAX LLC is a wholly owned subsidiary of Reinsurance Group of America, Incorporated. RGAX was formed in 2015 as the transformation engine of RGA, leveraging the talent, resources, and insight of RGA's 40+ years of innovation. As a global company with offices in the Americas, EMEA, and Asia, RGAX partners with carriers and entrepreneurs to incubate and accelerate new products and services to advance and expand the life insurance ecosystem. With a mission to help people live longer, healthier, more financially secure lives, RGAX is powering the next generation of data analytics, digital distribution, customer engagement, and insurance service solutions. For more information, please visit www.rgax.com .
About RGAReinsurance Group of America, Incorporated (RGA), a Fortune 500 company, is among the leading global providers of life reinsurance and financial solutions, with approximately $3.5 trillion of life reinsurance in force and assets of $84.7 billion as of December 31, 2020. Founded in 1973, RGA today is recognized for its deep technical expertise in risk and capital management, innovative solutions, and commitment to serving its clients. With headquarters in St. Louis, Missouri, and operations around the world, RGA delivers expert solutions in individual life reinsurance, individual living benefits reinsurance, group reinsurance, health reinsurance, facultative underwriting, product development, and financial solutions. To learn more about RGA and its businesses, visit the company's website at www.rgare.com .
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