DMS achieves significant milestone!
In early November 2001, DMS completed its conversion of the MONY Life Insurance Company's ("MONY") individual Disability Income insurance policy data from MONY's mainframe system to DMS' fully integrated policy and claim administration system. DMS' system now supports the day to day servicing of over 70,000 MONY policies. The implementation of the system is a significant achievement for DMS as the company seeks to further leverage its capability as a third party administrator of disability insurance products.
DMS named "Super 60" winner
The Affiliated Chambers of Commerce of Greater Springfield, Massachusetts have recognized DMS as a "Super 60" award winner for 2001. The 12 year-old awards program recognizes privately held companies located in Hampden and Hampshire counties for their contributions to the regional economy. Eligible companies must be in business for at least three years, and must have generated revenues of at least $1 million in the last fiscal year. DMS was recognized in both of the programs total revenue and revenue growth categories.
DMS prepares for MONY systems conversion
DMS is completing the development of its proprietary fully integrated policy and claim administration systems software in preparation for the data conversion of the MONY Life Insurance Companys ("MONY") individual Disability Income policy information. DMS initiated the systems development project after entering into its administrative services contract with MONY effective January 1, 1998. The data conversion is to be completed during the 4th quarter of 2001.
DMS assumes Equitable IDI policyholder service functions
Effective June 1, 2001, DMS assumed responsibility for policy administration for certain individual Disability Income insurance policies issued by The Equitable Life Assurance Society of the United States. DMS expanded its Syracuse, New York service center to accommodate the growth of its Client Service operations. DMS Call Center capacity in Syracuse increased by approximately 75% as a result of the expansion. Additional expansion is planned for the 4thquarter of 2001.
DMS expands Springfield operations
DMS has been retained by The Equitable Life Assurance Society of the United States, a subsidiary of AXA Financial, Inc, and Centre Life Insurance Company, a subsidiary of Centre Group, to administer Equitable Lifes Disability Income business directly written during or before 1993. As a result of the retention, DMS has expanded its Springfield offices and has increased its work force by approximately 50% to build capacity required for the company to absorb the Equitable business. DMS was retained coincident with Equitable Lifes transfer to Centre Life of all the risk of its Disability Income business directly written during or before 1993.