All Systems Go

In this study Kane worked closely with a reinsurance and asset management company to help launch two distinctive products within a trust structure.

Kane Solutions worked with a Bermuda-based reinsurance and asset management company to help define and implement a trust structure to support both a fixed and a variable annuity- style product to take to market.

A straightforward choice

The choice of Kane Solutions as the third-party administrator on the project was a relatively straightforward one for the client. Kane offered an expansive range of expertise spanning all aspects of the development and administration of financial products and was also able to respond quickly to the company‚Äôs requirements, acting as a valued ‘thought partner’ at every stage in the process.

In addition, the client highlighted Kane’s expertise in designing the plans in such a way as to be both attractive to investors and advisors, while also being relatively simple to administer and service.

Kane Solutions’ Nar Almeida said: “We have established a strong track record for our ability to provide comprehensive, scalable and cost-effective turnkey solutions for the international investment market. This all-encompassing capability is becoming increasingly important to the Kane offering.”

The company stated that it valued being able to rely upon a trusted partner to assist in multiple capacities, adding that Kane did “a better job than many other organizations in being able to coordinate its various businesses and present its capabilities as ‘one firm’ to its partners.”

Involved at all stages

The Kane team were proactively involved in several key stages. At a high level, these included:

  • conducting the initial implementation study
  • defining the parameters of the products based on the specifications from the client
  • creating the underlying infrastructure based on the firm’s proprietary IMS system (spanning both front and back-end)
  • putting in place the operational process flows and procedures (including the required compliance components, cash model and trust structuring)
  • carrying out a thorough test on all components and going live with the product

As with any project involving multiple moving parts and different parties, effective teamwork was critical to its overall success. The client highlighted how the new products had been shaped by feedback from a range of stakeholders, including advisors, banks and administrators, resulting in two plans that were truly distinctive in the marketplace.

In regular contact

According to Nar, regular interaction with the client and its hedging partner was central to the smooth running of the project. “The teams from all parties held multiple weekly sessions focused on ensuring items were discussed, agreed and then closed out or implemented, as agreed. This allowed the project to continue to move forward in an organized and progressive fashion.”

The two investment plans at launch were targeted in the near-term at mid-to-high net worth individuals in the Americas (excluding US) and (through the company’s regional operation in Dubai) the Middle East. However, moving forward the plan was to extend the distribution to parts of Asia and Europe. In terms of Kane Solutions’ role, the team provide full TPA administrative support, including pre-sale support to new business and on-going policyholders, as well as advisor servicing.