Conseco Selects Liberty Insurance Services Corporation To Administer New VUL Product.Business Editors GREENVILLE, S.C.--(BUSINESS WIRE)--Jan. 23, 2002 Liberty Insurance Services Corporation (LIS LIS - Langage Implementation Systeme. A predecessor of Ada developed by Ichbiah in 1973. It was influenced by Pascal's data structures and Sue's control structures. A type declaration can have a low-level implementation specification. ) today announced that Conseco, Inc. (NYSE NYSE See: New York Stock Exchange : CNC (Computerized Numerical Control) See numerical control. CNC - Collaborative Networked Communication ) contracted 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 (BPO BPO Business Process Outsourcing BPO Benevolent & Protective Order (of Elks of the USA) BPO Benzoyl Peroxide BPO Business Process Optimization BPO Broker Price Opinions BPO Buffalo Philharmonic Orchestra ) services from LIS for its introduction of Variable Universal Life (VUL VUL Variable Universal Life VUL Vulnerability (unit) VUL Vulgar ) insurance products. All BPO services will be managed out of LIS' St. Louis office and the VUL products will be administered using Life Support Plus, a comprehensive life administration software system for traditional and non traditional individual life insurance contracts, health insurance and annuity products. "LIS had the expertise, flexibility, and `can-do' spirit we were looking for in selecting our administrative partner for this very important initiative," stated John Currier, assistant vice president-life product development for Conseco. "We found LIS' environment and attitude consistent with our shared corporate values. LIS has been a pleasure to work with and we are excited to launch our VUL portfolio with LIS as an important partner. "New product start-ups for variable insurance products has been a strategic niche for us," explained Patricia Ellis, vice president for variable products and annuity administration at LIS. "Our success is easily demonstrated through our client engagements. We have the knowledge base and technology infrastructure to move an organization into the annuity or variable marketplace and to assist them with all levels of administration services." About Conseco "With $95.5 billion in total managed assets, Conseco, Inc. (NYSE: CNC) is a market leader in insurance, investment, and lending products. Headquartered in suburban Indianapolis, Conseco is helping 13 million customers step up to a better more secure future. For information about life insurance products, visit www.consecolife.com. For information on other Conseco products, visit www.conseco.com. About Liberty Insurance Services Corporation Liberty Insurance Services Corporation (LIS), part of Greenville, South Carolina-based RBC RBC red blood cell. RBC or rbc abbr. red blood cell RBC, n See red blood cell count. RBC red blood cells; red blood (cell) count (see blood count). Liberty Insurance, offers the insurance and financial services industry outsourcing services and administration systems through its two divisions. The Business Process Outsourcing division is one of the largest third-party life, health and annuity product insurance administrators in the U.S., with nearly four million policies under administration. The Software Solutions division, under the Genelco name, develops Web-enabled software for life, health, annuity and reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. administration. Together, these divisions have more than 200 client sites and serve domestic, international and multinational insurers worldwide. More information can be found at www.lisinfo.com and www.genelco.com. About RBC Financial Group Royal Bank of Canada Bank of Canada Canada's central bank, established under the Bank of Canada Act (1934). It was founded during the Great Depression to regulate credit and currency. The Bank acts as the Canadian government's fiscal agent and has the sole right to issue paper money. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). , NYSE: RY) uses the initials RBC as a prefix for its businesses and operating subsidiaries, which operate under the master brand name of RBC Financial Group. Royal Bank of Canada is Canada's largest financial institution as measured by market capitalization and assets, and is one of North America's leading diversified financial services companies. It provides personal and commercial banking, wealth management services, insurance, corporate and investment banking, and transaction processing services on a global basis. The company employs 58,000 people who serve more than 12 million personal, business and public sector customers in North America and in some 30 countries around the world. For more information, please visit www.rbc.com. |
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