CARMEL, Ind., Nov. 28 /PRNewswire-FirstCall/ -- Conseco, Inc. (NYSE:
CNO) said today that it has agreed to implement a systems and operational
solution provided by Long Term Care Group, Inc. (LTCG) for certain
back-office functions of the long term care business in its Other Business
in Run-off segment. Conseco announced earlier this year that it was
considering this solution. Under the agreement:
-- LTCG will assume responsibility for the customer call center and the
processing of continuing claims and other transactions for the 170,000
long term care policies in the Other Business in Run-off segment. The
parties expect that LTCG will migrate all claims to its systems by
early 2009, and all policy administration to its systems by 2010.
Conseco employees currently performing these functions will become
employees of LTCG.
-- For these policies, Conseco will retain responsibility for initial
claim decisions, claim appeals, and financial reporting, and the
Conseco employees currently performing these functions will remain
with the company.
-- Conseco will retain all the affected policies on its books, and will
also retain responsibility for all processing functions related to the
long term care policies issued by its Bankers Life and Casualty
Conseco CEO Jim Prieur said, "This is an important step in improving the performance of the long term care business in the Other Business in Run-off segment. By expanding our relationship with LTCG to further leverage LTCG's systems and service expertise, we will better manage this business and better serve our customers."
"Conseco's management team is totally committed to providing excellent
service and proper claims handling to their valued policyholders," said
Peter Goldstein, LTCG President. "We are proud to have been chosen to help
achieve that go
|SOURCE Conseco, Inc.|
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