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November 28, 2001 at 07:00 PM
NU Online News Service, Nov. 28, 12:41 p.m. –Transamerica Reinsurance, Charlotte, N.C., can now set up and run life insurance sales Web sites for retail insurers that buy its term life wholesale services.
Retail insurers can use the Web sites to sell term life products under their own brand names, without having to worry about Web site administration, Transamerica Re says.
Retail insurers hire wholesalers to handle tasks such as developing new products and administering policies.
Transamerica Re worked with Computer Sciences Corp., El Segundo, Calif., to add the new wholesale Web sales site service.
Computer Sciences, a major financial services technology company, will manage the application process. If the retail insurer wants to sell fully underwritten policies, a Computer Sciences enrollment specialist will call applicants and arrange for underwriting exams, Transamerica Re says.
Transamerica Re is a unit of AEGON N.V., The Hague, The Netherlands.
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