Transamerica says it will be putting LTGC in charge of administering its long-term care insurance (LTCI) business and managing the claims.
LTCG plans to begin serving as the third party administrator for the Transamerica LTCI business by Sept. 30.
(Related: Long-Term Care Insurance Issuers Face a Form Tsunami: Idea File)
The Eden Prairie, Minnesota-based company will help Transamerica handle new LTCI business as well as policyholder service and claim processing.
The LTCG deal will not affect Transamerica’s other in-house or outsourced administrative arrangements, Transamerica announced Thursday.
LTCG already handles LTCI administration for about 100 other insurers.