by Structured Settlement Watchdog
DealFlow Media's report that former structured settlement annuity writer Continental Casualty Co., a subsidiary of CNA Financial, entered into a five-year arrangement for its "structured settlement claims" to be managed by Accenture BPO Ltd is inaccurate.
The way DealFlow reports it "CNA Outsourcing Structured Settlements" one could be led to believe that Accenture is out there settling cases for CNA.
It is understood that the property and casualty companies underwriting under the CNA umbrella currently utilize structured settlements as one part of case resolution.
Next, the subsidiary of CNA Financial, Inc. which underwrote structured settlement annuities through 2004, was Continental Assurance Company. The qualified assignment company that owns the Continental Assurance placed structured settlements that have been assigned is CNA Structured Settlements, Inc.
According to its web site The Accenture Life Insurance Platform (formerly Navisys- the manufacturers of "quote in a box" software commonly used in the industry) "improves life insurance administration and new business processing. It is the insurance industry's only fully integrated Web services platform that supports the full policy life cycle".
There is no such thing as a "structured settlement claim". Claims may be resolve however, using a structured settlement as a tool to help bring the parties together.
Gotta love that "thorough" DealFlow Media research! In this case "Goat Cheese" turned out to be Swiss Cheese!
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