Fiserv Creates Fiserv Insurance Solutions Group

Fiserv SIS (Specialty Insurance Service)pany%> says it has formed the Fiserv Insurance Solutions Group to further develop its offerings in the insurance industry. The group combines all of the insurance-related acquisitions of Fiserv, including Network Data Processing, <%=company%>, The Freedom Group and Life Instructors.

Leslie M. Muma, Fiserv vice chairman, president and chief operating officer, said the move demonstrates a strong commitment to meet the needs of a converging financial services industry.

"It's no secret that the financial services industry, as we know it, is in the midst of a dramatic shift," Muma said. "Just as the industry is changing, we're changing to provide enhanced services to our clients."

Howard F. Arner, president of Fiserv NDP, heads the newly formed group based in Cedar Rapids, Iowa. William Choromanski, formerly senior vice president of client services at Fiserv NDP, was named executive vice president and chief operating officer of that unit.

"The evolution of the Fiserv Insurance Solutions Group has created a comprehensive portfolio of products as well as technology expertise, offering superior benefits to both new and existing clients," Arner said. "I am excited about the synergies our group has developed to support the insurance needs of the financial industry."

All of the Fiserv insurance processing businesses will continue to focus on their specific market areas of expertise. They are:

Fiserv NDP, based in Cedar Rapids, IA, a leading provider of administrative software, system services and processing to life, annuity and health insurance companies.

Fiserv SIS, a provider of software and related services for the property and casualty industry. Steve Abbott continues as president of the Orange, CA unit.

The Freedom Group, a Cedar Rapids-based provider of specialized products and services to the insurance industry, including software products for the property and casualty segment; implementation and consulting services; and outsourcing for insurance companies. Larry J. Kane continues as president.

Life Instructors, an education technology company serving the life insurance and securities industries. John Sullivan continues as president from the unit's New Providence, NJ headquarters.