Vector Names Erik Stockwell As New CFO

Insurance BPO Provider Picks Financial Services Veteran For Dual Roles

Indianapolis -  Vector Insurance Services of Indianapolis has named Erik C. Stockwell as the company’s new Chief Financial Officer.

Vector CEO and founder Harold J. Apple describes Stockwell’s responsibility in the growing insurance BPO as "that of traditional financial oversight, but Erik also will play a role in our product development and pricing thanks to his considerable experience in the life insurance industry."  This role is particularly important, according to Apple because of the growing reliance of life insurers on external resources for new business processing and policy administration.  "Vector recently spent several years and considerable resources in developing an innovative ground-up process that is years ahead of anything currently in place for new business processing," Apple says.  "We have been looking for someone of Erik’s experience to help move this process into life insurance markets."

A native of Philadelphia, Stockwell graduated from Lafayette College and earned his MBA from Penn State.  He is a Certified Life Underwriter.

Stockwell previously worked for life insurers in the Hartford, Philadelphia and Charlotte areas.  He and his wife are the parents of two children and are avid skiers and enjoy the outdoors.

Stockwell anticipates being able to contribute immediately to Vector’s growth model because he became familiar with the company as a client.  He says, "I was twice a customer of Vector’s while doing Product Management for Life Insurers.  As a customer I saw the huge value and opportunity in Vector’s focus on the TPA/BPO model.  Now I can look forward to helping grow this model by calling on my experiences as a customer."

Vector Insurance Services is a Business Processing Outsource and licensed TPA.  Founded in 1992, the company serves scores of life insurance home office operations around the globe with software, consulting services and new business processing.

The company is based in Indianapolis.  Computer technology is provided by a remote data center, while new business processing is handled onsite.

Recently Vector announced "Express Processing," the name for its new business model that moves a life insurance application from receipt of the signed application to mailing of it a customer in about 23 days, considerably less time than accepted industry standards.

Contact:

Tom Butters
Vector Insurance Services
317.613.2423
[email protected]
Vector Insurance Services
41 E. Washington St
Indianapolis IN 46204