Antares Signs Administrative Agreement With United Pacific Insurance Company.Business Editors, Health/Medical Writers CLEVELAND--(BW HealthWire)--June 28, 2000 Antares Management Solutions has signed a long-term agreement to provide administrative and information systems services for the health insurance business lines of United Pacific Insurance Company. The agreement calls for Antares to handle all systems, claims processing, customer service and billing functions. United Pacific Insurance Company is a subsidiary of RelianceInsurance Company, a principal unit of Reliance Group Holdings, Inc. (NYSE NYSE See: New York Stock Exchange :REL). The arrangement covers approximately $35 million in health insurance premiums. With the agreement, United Pacific will have access to Antares' information technology that encompasses installation and management of hardware, systems software, and application software for claims processing, customer service, membership and billing, and care management. Using Antares' robust infrastructure of systems and applications, United Pacific will have maximum flexibility in expanding capacity. Additionally, United Pacific will have access to dedicated systems and resources to ensure the highest level of data integrity and security. Antares Management Solutions is a specialized spe·cial·ize v. spe·cial·ized, spe·cial·iz·ing, spe·cial·iz·es v.intr. 1. To pursue a special activity, occupation, or field of study. 2. information technology, administrative and business process outsourcing Business process outsourcing (BPO) is the contracting of a specific business task, such as payroll, to a third-party service provider. Usually, BPO is implemented as a cost-saving measure for tasks that a company requires but does not depend upon to maintain its position in company. Antares offers information technology, claims processing, customer service, care management, membership, billing and other services to health insurance companies and health maintenance organizations nationwide. Headquartered in Westlake, Ohio Westlake is a city in Cuyahoga County, Ohio, United States. The population was 31,719 at the 2000 census. Geography Westlake is located at (41.454439, -81.928657)GR1. , Antares has annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. revenues of $48 million. RelianceInsurance (www.relianceinsurance.com) provides a broad range of property/casualty and accident & health insurance coverages and risk management services in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and internationally. Reliance Group Holdings, Inc., headquartered in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , has major property and casualty insurance operations and an information technology consulting Information technology consulting (IT consulting or business and technology services) is a field that focuses on advising businesses on how best to use information technology to meet their business objectives. company. The company's total 1998 revenues were $3.4 billion, and assets at year-end were $12.8 billion. Any statements in this communication which may be considered to be "forward looking statements" as that term is defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 are subject to certain risks and uncertainties. The factors which could cause actual results to differ materially from those suggested by any such statements include, but are not limited to, those discussed or identified from time to time in the Corporation's public filings with the Securities and Exchange Commission, and more generally, to: general economic conditions, including changes in interest rates and the performance of the financial markets; changes in domestic and foreign laws, regulations and taxes; changes in competition and pricing environments; and regional or general changes in asset valuations. |
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