American National Insurance Co. will use SS&C's Precision LM software product to manage the full lifecycle of its commercial real estate loan portfolio.
The Galveston, Texas-based life insurance company will use Precision LM to handle origination, servicing, accounting, insurance statutory reporting and asset management. It will replace older, less flexible systems, provide easier navigation, and eliminate numerous manual spreadsheets and work-arounds.
"Due to the limitations of our existing system, we have had to utilize a number of offline processes and Excel spreadsheets. Precision LM will make it much simpler and easier to do things like Schedule B reporting, risk-based capital calculations, automated correspondent/shadow servicing, escrow analysis, cash flow projections, and a number of other mission-critical loan management functions, all within one system," said Kelly Baker, American National's mortgage loan servicing manager.
