TORONTO, January 28/2004 �GeniSys, a market leading business process outsourcing (BPO) firm specializing in individual/creditor life insurance policy administration and DRIASI, an industry stalwart of turnkey administrative solutions for direct marketing/affinity group marketing programs, have entered into a strategic partnership agreement that will leverage their respective core competencies for the benefit of life insurance companies in the U.S., Canada and the Caribbean.
By bundling each company’s capabilities into a service offering, both firms are now able to provide life insurance carriers with end-to-end administrative services for a variety of products being marketed through various channels of distribution. According to Mike Nurse, GeniSys’ Senior Vice President “By partnering with DRIASI we can offer more comprehensive and effective services to life insurance companies, especially for direct marketing initiatives. We are committed to continuous improvement in the lines of business we support and our alliance will contribute to this objective for the benefit of our customers.”
“This alliance now enables DRIASI to expand its offerings of services to new and current insurance clients”, says DRIASI’s CEO and President, Richard Votel.
For either new product initiatives through traditional/alternative distribution channels or for existing blocks of business, GeniSys and DRIASI can provide collective front and back-office capabilities for a wide variety of life insurance products. These services include:
- New business data entry
- Policy issue
- Call centre support
- Premium billing, collection and accounting,
- Claims, and
- All customer fulfillment
GeniSys is an international provider of market leading front and back-end policy administration services for the life and health insurance market. Utilizing experiences insurance professionals, refined business processes and best-of -breed technologies, GeniSys is able to provide substantial cost-savings and increased efficiencies for end-to-end policy administration services. In 2003, GeniSys administered over 1.4 million policies and processed over 294,000 transactions for five (5) leading life and health insurance carriers.
GeniSys outsourced application solutions allows insurance carriers the ability to:
- Limit new technology investments
- Alleviate onerous fixed-cost for policy administration and processing
- Generate revenue by focusing on their core-competency of selling and marketing insurance
- Decrease time to market for new product initiatives
Founded in 2000, GeniSys is a privately held company headquartered in Canada. For more information please visit www.genisysoutsourcing.com.
DRIASI is a premier third party administrator for insurance companies, banks and other financial institutions, focused on direct marketing. With 21 years of industry experience, DRIASI is recognized as a leader in providing flexible and robust end to end solutions. In 2003, DRIASI administered 1.6 million policies and maintained over 15 million records for over 250 financial institutions.
Founded in 1982, DRIASI is a privately held company headquartered in Chanhassen, a suburb of Minneapolis, Minnesota. For more information, please visit www.driasi.com.