AMS Creates Independent Rating Unit, Shifts Execs

Windsor, CT-based AMS Services, Inc. announced that AMS Rating has become a distinct division of the AMS Holding Co. AMS Services, Allenbrook and iiX (Independent Insurance Exchange) are all divisions of the AMS Holding Co.

Frank Amoruso has been hired as president and CEO of AMS Rating. Amoruso brings to AMS extensive experience managing technology companies, most recently heading up the treasury products division of CheckFree Corp. CheckFree is a provider of electronic commerce processing services and software products for financial institutions, corporations and their customers.

"I'm very excited about this opportunity at AMS," said Amoruso. "I will be working hard to quickly deliver new technology to agents, companies, banks and other entities involved in this business. By giving 'Rating' its own identity, we will be able to capitalize on relationships with Allenbrook, iiX and the entire family of AMS companies, in addition to providing added benefit to our agency customers."

In addition to expanded market opportunities within em, Ken Benvenuto, CEO of the AMS Holding Company sees a competitive advantage in creating the new division. "With its broader appeal, the rating business will only become an even more formidable force in the market. We'll be leveraging the relationships our customers have with each of the independent parts of AMS …."

At the same time, AMS Services announced several management changes. Richard H. Roy, Jr. has assumed additional responsibilities for development, implementation, product delivery and technical R & D in addition to his current responsibilities for sales and marketing.

In addition, AMS has named Joseph P. Herzog to head up customer service, documentation including IMT (interactive multi-media training) / DLT (distance learning tools), continued education services, and infrastructure support, in addition to his current responsibilities as AMS Services CFO.

Chris Magee, president and CEO of AMS Services, commented, "This new alignment positions AMS to focus equally on these two key aspects of our current business, acquiring new customers and maintaining our leadership role in supporting the ones we have. Joe Herzog and Richard Roy have been key members of my staff for many years and I am confident in their abilities to do the best for our customers, our employees and our owners."

Magee said he has created a new position on his staff. "Ed Olsen will assist me in directing our focus on the changing insurance marketplace that now incorporates the financial services industry," he said. "These changes are creating new opportunities for AMS to provide its customers with solutions in the Life, Health, Benefits, Banking, and Pension areas." Magee said Olsen will also help manage AMS industry affairs activities, as well as the integration of AMS Services with the rest of the businesses of AMS.