DST Systems, a provider of software products and services, has expanded its insurance solution portfolio by forming a new subsidiary firm, DST Insurance Solutions.
As a wholly-owned subsidiary, DST Insurance Solutions will deliver outsourced policy administration and payout technology and services for annuity and life carriers.
The new unit will provide services on an ASP and full service BPO basis through Boston Financial Data Services, a joint venture between DST Systems, and State Street.
Bonnie Wasgatt, who has over 30 years of technology and outsourcing experience, has joined the organization as president.
DST Systems president and chief operating officer Steve Hooley said the firm is focused on providing solutions to the insurance marketplace that combine service excellence, operational best practices, global resources and a robust, responsive, flexible technology platform.