SEB group transfers Life Insurance Administration from Sweden to Vilnius

SEB Global Services in Vilnius has a new Life Insurance Operations department. This function was transferred to Lithuania from Sweden.

The new department administrates insurance payouts for Swedish customers. The employees of this department take care of manual bookings, reconcile internal SEB accounts and oversee the customer premiums that were received and not handled in straight-through processing. 

“The decision by SEB Life Insurance company to transfer this Swedish Life Insurance Operations function to Vilnius was highly influenced by the trust in the quality of our other departments. The input our employees offered in process efficiency and automation was especially noticed and recognised – these are the things that will enable our organisation to provide the same services with more efficience in the long run”, says Rūta Jasiulionienė, branch manager of SEB Global Services in Vilnius and Riga.

According to her, SEB Global Services, now operating in Vilnius for a decade, is continuously expanding the range of competencies in Operations, Finance and IT and can take on new, more complex functions.

Inga Balutė, who has been working in SEB Global Services for 10 years, became the head of Life Insurance Operations department. Before that, she served as the head of Lending Operations department. “SEB group offers great opportunities for employees to pursue both vertical and horizontal careers. That’s why a portion of the employees in our new department comes from other SEB Global Services business areas. The employees feel motivated because their ambitions and efforts are valued, their talents are noticed and fostered, and they get to share their knowledge with colleagues in other departments, both in Lithuania and abroad”, notices I. Balutė.

Currently, Life Insurance Operations department employs 14 people, bringing their experience from Bank Operations, Insurance and IT, but the number potentially may grow in the future.

At the moment, SEB Global Services in Vilnius has over 1000 employees. Just last year, the team grew by 200 new hires. Big Data specialists, different language programmers, customer service experts and finance and report analysts were especially in demand. Most of the employees (almost 40 per cent) work in IT, Operations (32 pct.), and Finance (22 pct.). The rest work in SEB Group HR, Risk Quants, Robotics and other business areas. SEB Global Services in Riga employs more than 600 people.