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Nippon Life Licenses
Life Administration System for Operations in Japan from Liberty
Insurance Services Corporation
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St. Louis, MO, May 21,
2001
Liberty Insurance Services Corporation (LIS)
today announced Nippon Life Insurance Company of Japan, one of the
world's largest life insurance carriers, has licensed Life Support
Plus 4.4, a life administration software product offered by the
Genelco Software & Services division of LIS. The system will
provide the Japanese company with life insurance product processing
in Asia. Modifications to the base system include adding a
double-byte capability.
"We have a high level of respect for U.S. software systems,
especially the Life Support Plus system as it has performed
particularly well for us in our operations in the Philippines,"
explained Mr. Takeshi Shuto, Deputy General Manager, International
Insurance Office of Nippon Life in Tokyo. "Due to the success
we have enjoyed with this system, we chose it for our expansion
plans into Asia. In addition, we expect Liberty insurance
Services/Genelco to support our efforts as we compete for new
markets in this region."
Mr. Shuto was instrumental in the start-up of operations at Nippon
Life Insurance Company of the Philippines and has overall project
responsibilities for the implementation of Life Support Plus in
Japan. Nippon Life Insurance Company of the Philippines has been
using Life Support Plus 4.3i for over three years. Life Support Plus
is a comprehensive administration system for individual life
contracts and individual health and annuity insurance products and
is licensed in over 80 sites throughout the world by life insurance
carriers and financial services organizations.
"We are pleased to expand our business partnership with Nippon
Life and we look forward to providing their organization with
comprehensive business solutions which fit Nippon's long range
strategy for growth," stated David J. Litschgi, Vice President-LSP
Client Services, Genelco Software & Services division of LIS.
About Nippon Life Insurance Company
of Japan
Nippon Life Insurance Company, established in
1889, is based in Tokyo, Japan and has grown to become one of the
largest financial services organizations in the world. Nippon Life
focuses on its customers and the delivery of quality customer
service. The company primarily markets insurance products in Japan
but is a forward-thinking company and has markets in many countries
throughout the world, as well as aggressive plans for future growth.
In addition to establishing operations in the Philippines in 1997,
Nippon has been involved in the U.S. market for almost two decades.
In 1991, the company established Nippon Life insurance Company of
America (NLI America) to offer a full range of employee benefit
programs to American and Japanese companies operating in the U.S.
NLI America, with branches in New York, Chicago and Los Angeles,
provides group insurance and retirement products to employees and
their families.
About Liberty Insurance Services
Corporation
Liberty Insurance Services Corporation is part
of RBC Insurance, which is the insurance operation of Royal Bank of
Canada and a leading insurance provider, bringing travel, life and
health, creditor, home, auto and reinsurance products to more than
five million North American customers. Headquartered in Greenville,
S.C., LIS is one of the largest third-party life and health
insurance administrators in the U.S., with nearly four million
policies under administration. In addition, LIS acquired certain
assets of Genelco Incorporated including its Web-enabled software
for life, health, annuity and reinsurance administration. Today, LIS
has more than 200 client sites and serves domestic, international
and multinational insurers worldwide. More information about LIS and
Genelco can be found at www.lisinfo.com
and www.genelco.com.
About Royal Bank of Canada
Royal Bank of Canada (RY) is a diversified
financial services company. It provides personal and commercial
banking, wealth management services, insurance, corporate and
investment banking, and transaction processing on a global basis.
The company employs more than 54,000 people who serve 10 million
personal, business and public sector customers in North America and
in 30 countries around the world. For more information, please visit
www.royalbank.com.
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and protected by their respective manufacturers.
Nippon Life Licenses Life Administration System for Operations in
Japan
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