News & Events
Long Term Care Group Enhances Customer Services With Chesapeake System Solutions
Long Term Care Group, Inc. (LTCG), the El Segundo, California-based provider of outsourced services to the long-term care insurance industry, has recently purchased Chesapeake System Solutions' Unclaimed Property Compliance System (UPCS) software package, announced Chesapeake President Peter Vogelberger.
Using the PC-based UPCS software, LTCG will be able to more efficiently manage and report unclaimed property transactions, including bank deposits, securities and dividends, unpaid wages, customer deposits, and unclaimed life insurance policies.
"Long Term Care Group must report escheatable items to many states for our largest clients," said Chris Johnson, LTCG Supervisor of Reporting and Treasury. "The UPCS software will enable us to quickly and easily meet the requirements of all 53 jurisdictions in the US, and to meet the diverse contractual needs of our clients."
Dennis Eder, Executive Vice President and CFO of LTCG added, "Our PC-based systems give us a significant advantage in the marketplace, and Chesapeake's UPCS software is an excellent fit with our system architecture. The quality and price of the Chesapeake package, as well as the company's conscientious support team, made the UPCS very attractive."
Noted Chesapeake President Peter Vogelberger, "LTCG prides itself on quick and complete customer service. Chesapeake's Unclaimed Property Compliance System will help the company streamline its reconciliation and compliance functions and will eliminate many time-consuming tasks, thus freeing LTCG employees to better provide the service that their clients require."
About Long Term Care Group
Long Term Care Group provides administrative and other support services to insurance
companies nationwide. LTCG assists insurance carriers in designing, implementing and managing long-term care programs, and offers a wide range of services that includes underwriting, claims processing, policy owner services, financial accounting, actuarial, product development, compliance and marketing support. The company headquarters is in El Segundo, California; other LTCG offices are located in Eden Prairie, Minnesota; Hudson, Wisconsin; Orlando, Florida; Boston, Massachusetts; and Salt Lake City, Utah.
About Chesapeake System Solutions
Chesapeake System Solutions is a worldwide leader in the development, distribution and support of reconciliation, cash management and unclaimed property software. The Owings Mills, Maryland based company was founded in 1988 and has furnished its two products and ongoing support to over 250 customers nationwide. Total Reconciliation Solution (T-Recs) provides multi-outlet companies with a comprehensive and customizable system to collect, analyze, verify and reconcile daily deposits, and to manage the subsequent reports and follow-up actions. T-Recs is a desktop, client-server application which automates the entire reconciliation process -- from the identification of exceptions to automated resolution and adjustment. Unclaimed Property Compliance System (UPCS) enables corporations to automate the management of unclaimed property in all 53 US jurisdictions, including the filing of state-specific regulatory reports for unpaid wages or commissions, stock certificates, dividend checks, overpayments, and accounts payable.