Phone: (972) 717-5690
1701 W. Northwest Hwy, Suite 100 Grapevine, TX 76051
Irving, TX 75014
LuthBro Policy Administration Conversion
UCT/Lutheran Brotherhood Complete Policy Administration Conversion
Lutheran Brotherhood (now Aid Association for Lutherans/Lutheran Brotherhood) and Universal Conversion Technologies (UCT) recently completed a major annuitydata conversion project. The project converted over 300,000 annuities from a legacy system to LIDP's Administrator with a conversion acceptance rate of 99.96%.
The final conversion, run the weekend of March 3, 2002, generated over 4.3 million transactions and involved $9.4 billion in funds. Of 310,215 contracts, 310,092 converted automatically, generating the highly successful results. The remaining 123 contracts errored out and were manually corrected.
AAL/LB's project to convert these blocks of annuities, including nearly 85,000 Fixed Annuities and over 225,000 Variable Annuities, faced challenges from time constraints and staffing allocations. UCT's experienced staff, proven methodology, and impressive track record of successful data file conversions, provided this effective solution. UCT's patented software, that allows the business experts to create rule-based maps that generate the code to drive the conversion, help keep the focus on efficiency and accuracy.
"UCT's contribution certainly helped make the project a success," said Mike Braun, FLIM, AAL/LB Vice President, MIS Division. "We could not have done as well without their support. They were a great partner. I look forward to doing business again in the future with them."
Universal Conversion Technologies (http://www.uctcorp.com) was founded in 1992 by Dan O'Hara, and maintains company headquarters in Dallas, Texas. All product and service functions are managed through the Dallas office. UCT's customers include both U.S. and Canadian life insurance companies.
More than 50 companies have used UCT's data conversion tools and methodology to implementconversions of millions of financial records involving billions of dollars of financial values.
About Aid Association for Lutheran/Lutheran Brotherhood
Aid Association for Lutherans (AAL) and Lutheran Brotherhood (LB), a Fortune 500 organization, is the nation's leading fraternal benefit society with nearly 3 million members. The organization and its affiliates have more than $58.6 billion in assets under management. The organization's members join together for insurance and financial products, as well as education and volunteer opportunities.