American Skandia Adds Variable Annuities to DST Vision's Platform; Partnership Provides Consolidated Listings.Business Editors SHELTON, Conn.--(BUSINESS WIRE)--Sept. 5, 2002 American Skandia Life Assurance Corporation ("American Skandia"), one of the nation's leading financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. providers, has enhanced its relationship with DST (1) (DeSTination) Contrast with SRC, which is an abbreviation of "source." (2) (Digital Signal Trust Company, Salt Lake City, UT, www.digsigtrust.com) An organization that sets up and manages PKI systems for companies and industry groups. Vision(R) to provide a portal for Investment Professionals to view account values in variable annuities Variable annuities Investment contracts whose issuer pays a periodic amount linked to the investment performance of an underlying portfolio. and mutual funds through American Skandia's Web site, www.americanskandia.com. DST Vision (a product of DST Systems DST Systems Inc. (NYSE: DST) is a software development firm that specializes in information processing and management, with the goal of improving efficiency, productivity, and customer service. ) is an account aggregation Account aggregation is a method that involves compiling information from different accounts, which may include bank accounts, credit card accounts, investment accounts, and other consumer or business accounts, into a single place. service that lets Investment Professionals check mutual fund and annuity accounts held at more than 260 firms. The portal access through American Skandia's Investment Professional Web site means that, for the first time, Investment Professionals can view consolidated listings of their clients' variable annuity Variable Annuity An insurance contract in which, at the end of the accumulation stage, the insurance company guarantees a minimum payment. The remaining income payments can vary depending on the performance of the managed portfolio. and mutual fund accounts. According to DST, more than 150,000 Investment Professionals are using the current service, and this number is expected to grow with the addition of annuity information to the Vision platform. "There has been considerable interest from IPs in being able to view account values for both the VA and mutual fund product lines," said Lincoln Collins, American Skandia's Senior Vice President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. . "In keeping with our company efforts to provide technological advances that will improve efficiency and reporting capabilities for the Investment Professionals that sell our products, this further enhancement of our relationship with DST Vision is yet another example of American Skandia's competitive edge and leadership. We think IPs are going to be very pleased with this new feature." ABOUT AMERICAN SKANDIA American Skandia is a leading financial services company packaging long-term savings products with world-class investment managers and dedicated to superior client services. Its product line includes variable annuities, mutual funds, mutual fund wrap, variable life insurance and college savings plans. The Company has more than $26 billion in assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. . Information about the Company and its products can be found on the Company Web site at www.americanskandia.com. Variable annuities are issued by American Skandia Life Assurance Corporation. Variable annuities and mutual funds are distributed by American Skandia Marketing, Incorporated. Both companies are located at One Corporate Drive, Shelton, Connecticut 06484. Call 1-800-SKANDIA for a prospectus containing more complete information on charges, expenses and tax consequences. It should be read carefully before you invest or send money. Information about the company and its products can also be found on the company Web site at www.americanskandia.com. ABOUT DST SYSTEMS, INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. . DST Systems, Inc. provides sophisticated information processing and computer software services and products that help clients improve productivity, increase efficiencies, and provide higher levels of customer service. DST is organized domestically and internationally into three operating segments: Financial Services, Output Solutions and Customer Management. DST operates one of the most advanced data centers in the world, which provides information-processing services to support the products within each operating segment. These products are further enhanced through the integration of DST's advanced technology and e-commerce solutions. DST Vision is a product of DST Systems. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion