[November 01, 2005] New Reinsurer, Wilton Re selects AdminServer Reinsurance Administration System; Rules-driven AdminServer system provides flexibility to manage complexities of reinsurance Tweet CHESTER, Pa. --(Business Wire)-- Nov. 1, 2005 -- AdminServer, Inc. announced today that Wilton Re has licensed the AdminServer System to administer its traditional reinsurance line of business. Responding to a market need for diversification of capital resources, Wilton Re was formed with a clear vision of how the implementation of advanced technology for administration would be an important factor in its success. Wilton Re needed a vendor partner who could provide a flexible administration solution supporting ACORD XML data standards, which could be implemented rapidly through a cost-effective outsourcing arrangement. While the AdminServer system has been widely implemented for administration of life and annuity products, Wilton Re represents the software company's first reinsurance client. It is the flexibility and neutrality of AdminServer's rules-driven system design that allows the system to be easily configured to support Wilton Re's traditional reinsurance business. Wilton Re has adopted an approach to outsource non-core functions in both Operations and IT with the objective of focusing internal resources on core reinsurance products and processes. Wilton Re recognized the importance of the ACORD XML data standards as one of the key enablers to deploy their Operations and IT strategy quickly, effectively, and efficiently. Wilton Re's Senior VP and COO, Enrico Treglia, commented, "As a result of the continued consolidation in the U.S. life reinsurance industry, we recognized an opportunity to fill a growing need. But, we also saw it as an opportunity to redefine the reinsurance process as we had the advantage of starting our operation with a blank page, unencumbered by legacy systems and inefficient business processes. Our goal was to streamline and automate the process as much as possible, including a good portion of the operation outsourced to trusted partners like AdminServer." Added Andrew Wood, Senior VP and CIO with Wilton Re, "We were very impressed with the flexibility of the AdminServer system and its ability to be easily configured to support our reinsurance business. We evaluated reinsurance specific solutions; most were old technology and didn't provide data standardization or the rules-engine we were looking for. Our selection of AdminServer was truly a joint effort between Operations and IT with a common goal of operational excellence in efficiency, cost, and ongoing flexibility to quickly adjust and enhance our processes and products as business needs dictated." "We both admire and support Wilton Re's 'fresh start' approach to the reinsurance market," noted Christopher Doggett, AdminServer's CEO. "We are pleased to be selected as Wilton Re's reinsurance administration partner and look forward to working with them to deliver on their aggressive strategy. Working with Wilton Re through the implementation will give us the added benefit of extending our solution offering and the opportunity to expand our presence in the reinsurance arena." About Wilton Re Wilton Re Holdings, Ltd. provides traditional life reinsurance and insurance run off solutions through its wholly owned operating subsidiaries, Prudential Select Life Insurance Company of America (to be renamed Wilton Reassurance Company) and Wilton Re Bermuda, Ltd. The Wilton Re Group was formed in order to provide a new source of life reinsurance capacity in response to the continuing consolidation in the U.S. life reinsurance industry. The Wilton Re Group raised more than $600 million in capital commitments through a private placement of its common stock in December of 2004. A.M. Best Co. has assigned a financial strength rating of A- (Excellent) to the Wilton Re Group operating subsidiaries. About AdminServer, Inc. AdminServer, Inc. is a premier solutions provider for the insurance community. AdminServer has been delivering administrative system solutions, web services, and consulting since 1998. AdminServer continues to specialize in fixed and variable annuities, pensions, immediate annuities, life insurance, and reinsurance. Currently AdminServer offers the only annuity, health, life insurance, and reinsurance administration system designed specifically as a web application employing J2EE and .NET strategies and technologies. Additionally, AdminServer has expanded their product offerings to include UVServer, an automated fund management and accounting system. To learn more about AdminServer products and services, call 610-619-3100, e-mail [email protected], or visit the website at www.AdminServer.com. [ Back To TMCnet.com's Homepage ]