Nippon Life Benefits, the US subsidiary of Nippon Life Insurance, has selected CoreSource, an administrators of self-funded employee benefit plans, to oversee the administration of its small- and large-group customers.
CoreSource will provide a comprehensive range of administrative services, including billing, administration and claims.
CoreSource’s platform will also help Nippon Life Benefits to fulfill the needs of members and employers, including specialized customer service in Japanese and Korean.
In addition, Nippon Life Benefits and CoreSource are jointly developing a transition plan over the next several months.
CoreSource succeeds Principal Financial Group, which announced in September 2010 that it was exiting the medical insurance business.
Nippon Life Benefits president and CEO Toshihiro Nakashima said the relationship with CoreSource will enable Nippon Life Benefits to continue delivering exceptional service to its diverse customer base.