Constellation Insurance Selects SS&C to Scale Commercial Mortgage Operation
Sunday, April 16, 2023
Insurance holding company with a $1.6 billion loan portfolio chooses next-generation SS&C Precision LM platform to improve efficiency, profitability and risk control
WINDSOR, Conn., March 9, 2023 /PRNewswire/ -- SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced Constellation Insurance, Inc. has selected SS&C Precision LM(TM) to help manage its growing commercial mortgage portfolio. Precision LM loan origination and servicing software will support pipeline tracking, loan servicing, accounting, asset management and regulatory reporting for its growing commercial mortgage portfolio--all on a single integrated platform.
"We were impressed by SS&C's expertise, infrastructure, and continued enhancement to its commercial mortgage technology," said Timothy Biggs, Vice President, Mortgages and Real Estate at Constellation. "Precision LM is a robust and scalable solution, which will provide increased data and automation and improve efficiency and accuracy. Having Precision LM is especially important as additional regulations continue to be implemented."
Constellation expects the implementation to increase efficiency in the loan process, improve profitability and control risk. Precision LM's cloud-based platform will also reduce the operational impact on Constellation's IT staff.
"SS&C is committed to providing innovative software and value-added services to commercial real estate lenders and insurance companies," said Bhagesh Malde, General Manager, Global Head of SS&C GlobeOp. "This complex industry is evolving with increasingly complex stakeholder expectations. With our deep domain expertise and superior technology, we simplify commercial loan management for clients."
More than 130 lenders, insurers, REITs and debt funds use SS&C's Precision LM software to support their lending operations. Learn more about Precision LM here.
About Constellation Insurance, Inc.
Constellation Insurance, Inc., is a leading insurance holding company serving consumers and small business owners in United States and Latin America through its insurance subsidiaries, which include The Ohio National Life Insurance Company, Ohio National Life Assurance Corporation, National Security Life and Annuity Company and certain other affiliated (re)insurance entities in Latin America and Cayman Islands. As of September 30, 2022, Constellation's family of insurance companies have over $34 billion in total assets under management. Constellation's investors and equal partners, CDPQ and Ontario Teachers' are two of the largest long-term institutional investors in North America, managing a total of over C$660 billion in net assets, including over C$140 billion in private capital investments.
About SS&C Technologies
SS&C is a global provider of services and software for the financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut, and has offices around the world. Some 18,000 financial services and healthcare organizations, from the world's largest companies to small and mid-market firms, rely on SS&C for expertise, scale, and technology.
Additional information about SS&C (Nasdaq:SSNC) is available at www.ssctech.com. Follow SS&C on Twitter, Linkedin and Facebook.
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SOURCE SS&C
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