Reliance Trust Company announced it has formed an alliance with 3 firms to help it focus on the trust-owned life insurance market.

In addition to Reliance Trust, Atlanta, the alliance includes Investment Scorecard, Nashville, Tenn., a business unit of Informa Investment Solutions Inc.; InsuranceIQ, a TOLI workflow management and trust administration system; and ITM Insurance Trust Monitor Inc., Cedar Falls, Iowa, a fee-based provider of back office functions for TOLI trustees.

The alliance will work with trustees to provide information and services needed to manage life insurance policies, with a view toward their potential liability, while maintaining a strong relationship with the trust grantors.

The system would help trustees administer their TOLI policies while giving them an impartial review of the trust asset and the upgrade opportunities that may be available in the marketplace. It would also help them to exit the TOLI business if desired, according to Reliance Trust.