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Nippon Life Benefits Taps CoreSource for Benefit Administration

CoreSource will provide a comprehensive range of administrative services, including billing, administration and claims, formerly provided by Principal Financial Group.

Nippon Life Benefits, a division of Nippon Life Insurance Company of America (New York), the U.S. subsidiary of Japan-based Nippon Life Insurance, has selected CoreSource (Lake Forest, Ill.), a leading administrator of self-funded employee benefit plans, to oversee the administration of its small- and large-group customers.

"The relationship with CoreSource will enable Nippon Life Benefits to continue delivering exceptional service to its diverse customer base," comments Toshihiro Nakashima, president and CEO, Nippon Life Benefits. "We are pleased to partner with a company who shares our commitment to serving employers and their members. CoreSource's commitment to a strong work ethic and high-quality service parallels that of Nippon Life Benefits' value proposition of harmony, honor and humanity."

CoreSource will provide a comprehensive range of administrative services, including billing, administration and claims, according to a vendor statement. The flexibility of CoreSource's platform will help Nippon Life Benefits fulfill the needs of members and employers, including specialized customer service in Japanese and Korean, the CoreSource statement asserts.

"Nippon Life Benefits and CoreSource share similar values," says Nancy Eckrich, president and CEO, CoreSource. "CoreSource will continue to support the company with high-end, specialized customer service and a flexible platform. We believe this partnership will fit nicely with Nippon Life Benefits' cultural roots. Nippon Life Benefits has a well-deserved reputation for both service and cost containment."

CoreSource succeeds Des Moines-based Principal Financial Group, which announced in September 2010 that it was exiting the medical insurance business. Nippon Life Benefits and CoreSource are jointly developing a transition plan over the next several months, according to CoreSource.

Anthony O'Donnell has covered technology in the insurance industry since 2000, when he joined the editorial staff of Insurance & Technology. As an editor and reporter for I&T and the InformationWeek Financial Services of TechWeb he has written on all areas of information ... View Full Bio

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