ARDMORE, Pa., Jan. 26, 2021 /PRNewswire/ -- Spraoi announced
today that Reliance Standard Life Insurance Company (Reliance
Standard) successfully deployed models for the identification of
operational inconsistencies (e.g. churning, anomalous activity)
across new business and in-force transactions within their block of
traditional and indexed annuity business. The Spraoi solution now
provides visibility into transactions for increased scrutiny for
all Reliance Standard's annuity products. The scope of this project
was to complete a review of Reliance Standard's historical
transactions to develop models that will identify transactions that
should be further analyzed. The successful completion of this
program provides Reliance Standard with a tool to screen all
transactions, increasing safeguards for their customers.
"Taking a proactive stance on the detection of operational
anomalies will improve our ability to protect the well-being of our
customers," said Kyle Ryan, Reliance
Standard's VP Operations of Retirement Services.
About Reliance Standard Life Insurance
Reliance Standard Life Insurance Company (Reliance Standard) is
a leading insurance carrier offering innovative and flexible
employee benefits solutions including disability income and group
term life insurance, a suite of voluntary (employee paid) coverage
options and fully integrated absence management through its
Employee Benefits segment. Through its Retirement Services segment,
Reliance Standard offers a portfolio of traditional fixed and
indexed annuities to individuals seeking to preserve capital and
retirement income with guaranteed returns as well as fixed and
floating rate institutional funding agreements. Rated A++
(Superior) by A.M. Best and A (Excellent) Standard & Poor's,
Reliance Standard began its centennial year in 2006.
About Spraoi
Spraoi is a Pennsylvania
limited liability company. Spraoi is the provider of machine
learning platform and solutions to solve the challenges our
insurance clients face as they seek to gain greater insight into
their data. Visit: www.spraoi.ai
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SOURCE Spraoi