Addison, TX--Universal Conversion Technologies (UCT), a provider of insurance industry data conversion solutions, today announced it has been selected by CUNA Mutual Group to assist with CUNA Mutual's data conversion project. The conversion involves the migration from two legacy policy administration systems to an existing system used by CUNA Mutual to support its current and future operations. In addition to their proven conversion software, UCT will provide expert conversion services.
The project includes the consolidation of data from CUNA Mutual's multiple legacy environments to a single common platform, Professional Data Management Again, Inc's LifePRO(R). This conversion supports CUNA Mutual's strategy of employing methodologies, systems and business processes to quickly design, develop and deploy new insurance products. In addition to UCT services, CUNA Mutual has also licensed the UCT conversion software suite, including: Data Conversion Architect (DCA), Data Conversion Engineer (DCE), and Data Analysis & Reporting Tool (DART).
The Genelco conversion is scheduled to begin in January 2005 and to be completed by June 2005, with 32,000 policies for hospital indemnity protection and hospital accident protection. The Life70 conversion is planned for completion in April, 2006 and will include approximately 290,000 policies for Universal Life, Variable Universal Life, Annuities, Health, Disability Income, Endowments, Traditional, Term and other miscellaneous CUNA Mutual Life Insurance Company products.
Rick McCue, assistant vice president, Member Solutions Group with CUNA Mutual, commented, "UCT is well known as the conversion expert in the insurance industry, so we turned to them when we began this project. They have a solid industry reputation for delivering quality conversion results, on time and on budget. And, given that data conversion is not one of our core competencies or a skill set that we are looking to develop in-house, UCT was a great fit for us."
Jerry Kaul, UCT's chief marketing officer, added, "We appreciate that a quality organization such as CUNA Mutual has selected our services and software products. It is particularly gratifying to be recognized for our reputation and expertise in insurance data conversions. We are already into the first part of the conversion project and things are going well. Of course, there are always surprises with any conversion effort, but working side-by-side with the CUNA Mutual staff, who know the data inside and out, will make the effort much easier."
The CUNA Mutual Group is the leading provider of financial services to credit unions and their members worldwide, offering lending, protection, financial, employee and member solutions through strategic partnerships, technological innovations and multiple service channels.
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