Perot Systems Corporation (NYSE: PER) today announced that the company has been awarded a five-year extension to its current administrative services agreement with Old Mutual U.S. Life, a national financial services organization.
The agreement extends the current seven-year relationship between the companies until 2014. Under terms of the agreement, Perot Systems will continue to provide ongoing insurance policy administration and IT solutions.
"It is an honor to support Old Mutual U.S. Life and their efforts to help families and businesses achieve secure financial futures," said Peter Altabef, Perot Systems President and Chief Executive Officer. "We are committed to helping Old Mutual U.S. Life grow their business and further enhance the experience of their customers."
The contract extension highlights Perot Systems' ability to handle fluctuating levels of business while also providing quality customer service, including call center and claims support, policyholder and new business administrative services, as well as product configuration and implementation.
"We look forward to our extended relationship with Perot Systems," stated Vic Lumby, Senior Vice President, Client Services and Technology. "We will continue to rely on their expertise to provide us with the quality service and cost efficiencies that are vital to our success."
Perot Systems provides end-to-end business process, consulting, application and infrastructure solutions to the life insurance and annuity industries through its licensed insurance subsidiary. The company currently manages more than over 3,000,000 policies for more than 30 leading life insurance and annuity providers across the world.