CUNA Mutual Group is spinning off its Employee Benefits book of business – including some 3,200 credit unions – to Digital Insurance Inc. in Atlanta.
No terms for the deal were announced, except that "(a)s part of this transaction, several CUNA Mutual Group Employee Benefits representatives will be joining the Digital team," CUNA Mutual Group said in the announcement.
The announcement Tuesday follows February's announcement that CUNA Mutual was partnering with Digital Insurance to offer additional services, including health care reform education, to credit unions that use CUNA Mutual for employee benefits services and now face the transition to Obamacare.
Digital Insurance describes itself as "the nation's leading employee benefits only agency" and said its Digital Benefit Advisors division "will service this business, providing resources, expertise and education to help credit unions prepare for the complexities of health care reform required by the Affordable Care Act."
"At CUNA Mutual Group, we regularly evaluate our products and services to ensure we provide the best solutions available to meet the needs of credit unions, their employees and members," said Robert Trunzo, president of CUNA Mutual Group Insurance & Financial Services Co.
"When we are unable to provide the best solution on our own, we have a successful track record of bringing in market leaders like DBA to deliver those solutions to credit unions," Trunzo said.
DBA said its services include local market advisers who can provide employers access to a variety of carriers as well as software tools and other proprietary products.
"One significant advantage includes direct policyholder access to a Customer Advocate Center, where knowledgeable and licensed Digital representatives answer benefits and policy questions, enabling employers to free-up overworked HR departments," DBA said.
Adam Bruckman, president/ CEO of Digital Insurance. "DBA is now in an even stronger position to help credit union customers address a significant business need, ensuring they are knowledgeable about changes in health care reform and prepared to modify their employee benefits packages accordingly."
CUNA Mutual Group sales representatives will contact their 3,200 Employee Benefits credit union customers over the next several weeks about the transition, the company said.
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