PRLog (Press Release) -
Jun 05, 2008 -
Philadelphia, PA. — Milestone Providers, a Pennsylvania based life settlement provider, has announced the completion of their state-of-the-
art life settlement acquisition and management software. This advanced software enables Milestone to process and evaluate vast amounts of life insurance policies and portfolios for sale in the secondary market, while maintaining their signature quick turn-around time. “We’ve put a lot of time and money into developing comprehensive software which addresses all aspects of the life settlement process, from policy analysis and acquisition, to broker, agent and investor interface mechanisms,”
said Milestone CEO, Kristian Armstrong.
“Milestone’
s new software is applicable to all life settlement market sectors and functions, producing the efficiencies of scale needed in this evolving marketplace, giving Milestone one more competitive advantage in the market,” continued Armstrong. “This software enables Milestone to provide the shortest policy turn-around time in the industry, completely evaluating policies within 1-2 days from submittal. With full implementation now in place, it’s definitely paying off. The brokers and agents we work with have been very appreciative of the quick turn-around and the offers we’ve been generating. We’re evaluating massive amounts of policies in less than quarter the time previously and still maintaining our targeted turn-around times,” added Armstrong.
Milestone’s proprietary software runs on a virtual network, which allows agents and brokers to upload data quickly and efficiently online. Once received, Milestone can sort and price the files according to buyer and provide access to these files to the institution’
s Milestone works with. This open communication between Milestone, its supply side and investors is unprecedented and is proving to be very beneficial as Milestone continues to increase both its efficiency and accuracy. Milestone has implemented automated processing responses into its new management software, replacing the historically lengthy methods of communication with automatic notifications throughout the entire process. This allows for greater focus on core issues surrounding the evaluation of policies, further adding to the efficiencies of scale inherent to this new software.
This new addition is already proving its value in Milestone’s “No Policy Left Behind” program, which focuses on small policies that are often overlooked in the life settlement market. The program considers face amounts as low as 50K in death benefit, giving brokers and agents a new resource to better serve their clients who own these smaller policies.
Milestone’s new software and their “No Policy Left Behind” program have helped establish them as an industry leader in terms of efficiency. However, efficiency is not the only area in which Milestone sets examples. They are well respected throughout the industry in regards to their business ethics and practices. Milestone was the first large scale provider to require full commission disclosure to the seller on all transactions.
With these effective programs, newly developed software and the ability to handle high processing loads, Milestone offers quicker than average transaction times and efficient placement of funds, further demonstrating its slogan of “We didn’t create the life settlement industry, we fixed it.”
