June 11, 2014
/PRNewswire/ -- CNA Financial Corporation (NYSE: CNA) today announced that it has entered into a multi-year relationship with IGATE Corporation to implement transformational technology and best practice processes to advance the evolution of its claim and policyholder administration in the Long Term Care (LTC) business.
"Since my appointment, we have made it a top priority to focus on the strategic and operational management of the Long Term Care business," said
, President of CNA Long Term Care. "To that end, we believe IGATE's technology, experience and scale will enable us to optimize processes and better serve our policyholders."
IGATE will provide key claim support, policyholder services, and customer service, while CNA will be responsible for claim eligibility and decision-making.
IGATE will administer CNA's LTC business through its proprietary and differentiated IGATE Business Administrative Solution (IBAS).
Serving businesses and professionals since 1897, CNA is the country's eighth largest commercial insurance writer and the 13th largest property and casualty company. CNA's insurance products include standard commercial lines, specialty lines, surety, marine and other property and casualty coverages. CNA's services include risk management, information services, underwriting, risk control and claims administration. Our core business, commercial property and casualty insurance operations, is reported in three business segments: CNA Specialty, CNA Commercial and Hardy. Our non-core businesses are managed in two business segments: Life & Group Non-Core and Corporate & Other Non-Core. Long term care is reported as part of the Life & Group Non-Core segment. For more information, please visit CNA at
. "CNA" is a service mark registered by CNA Financial Corporation with the United States Patent and Trademark Office. Certain CNA Financial Corporation subsidiaries use the "CNA" service mark in connection with insurance underwriting and claims activities.
IGATE is a global leader in providing integrated technology and operations-based solutions, headquartered in
Bridgewater, New Jersey
. With revenues over
US$ 1.1 billion
, and a global employee talent capital of over 31,000, IGATE offers productized applications and platforms that provide the necessary competitive and innovation edge to clients across industries, through a combination of speed, agility and imagination. IGATE is listed on NASDAQ under the symbol IGTE.
This press release may include statements which relate to anticipated future events (forward-looking statements) rather than actual present conditions or historical events. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and generally include words such as "believes", "expects", "intends", "anticipates", "estimates" and similar expressions. Forward-looking statements, by their nature, are subject to a variety of inherent risks and uncertainties that could cause actual results to differ materially from the results projected. Many of these risks and uncertainties cannot be controlled by CNA. For a detailed description of these risks and uncertainties affecting CNA and particularly its long term care operations, vendor reliance and potential transition-related disruption, please refer to CNA's most recent 10-K on filed with the Securities and Exchange Commission available at
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SOURCE CNA Financial Corporation