Conseco Services, a provider of life insurance and annuities, has extended its long-term 15-year agreement with Open Solutions to use its Customer Access Accounts program for another five years.
Conseco uses Open Solutions’s Customer Access Accounts (CAA) program, an asset retention solution that leverages its traditional banking platform to provide the back-office processing and customer service required to support accountholder relationships.
Conseco said that Open Solutions’s CAA reduces the outflow of cash, retains investment income and disburses benefits to accountholders. The program fosters ongoing customer relationships with beneficiaries and claimants and earns investment income on funds that otherwise would have been lost to another financial services firm.
Louis Hernandez, chairman and CEO of Open Solutions, said: The CAA program not only improves customer relationships, but also maintains accountholders loyalty by providing a competitive interest rate beginning the day the account is opened. We are proud to have re-earned the business from Conseco and look forward to assisting them in reaching their strategic objectives.