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Software Firm Jumps Into TPA Market

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Vector Insurance Services L.L.C. plans to get the licenses it needs to act as a third-party administrator for life insurance companies throughout the United States.

Vector, Indianapolis, a consulting firm that has specialized in selling consulting services to life insurers and setting up mainframe policy administration systems, says it now has a TPA license from Indiana and expects to have licenses in the other states that require licenses by the end of the year.