The transaction is anticipated to close no later than the end of 2018. Wilton Re has selected LTCG to administer these 70,000 policies and approximately 8,000 active claims. After closing,
LTCG is widely regarded as the most experienced LTCi administrator in the business today, providing services to all of the top long-term care insurers. Wilton Re will provide reinsurance for these policies while LTCG will offer a complete processing solution which includes policy administration, care management, claims payments, benefit eligibility assessments, actuarial analysis and financial reporting.
Due to the current challenges facing LTC insurers and the rising number of claims overall, many carriers are increasingly looking to reduce their financial exposure while also enhancing their claims management capabilities. LTCG is able to meet these needs through extensive LTC market data, a state-of-the-art claims system and industry best practices that are integrated with wellness and recovery programs, provider solutions and fraud detection.
"We are very excited to join Wilton Re as strategic partners in this significant opportunity," said
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