TEMPE, Ariz., April 10, 2012 (GLOBE NEWSWIRE) -- LifeLock, Inc. (www.lifelock.com), the industry leader in identity theft protection, will now offer its services through Transamerica Employee Benefits (TEB), a marketing unit of Transamerica Life Insurance Company that offers voluntary group life and supplemental health insurance products. During turbulent economic times in which the Social Security Administration recognizes identity theft as one of the fastest growing crimes in the nation, an employee who feels secure is more effective and productive.
"As we continue to expand our service offering, we have seen success in the employee benefit market. By aligning with Transamerica, we will be able to maximize our opportunities to provide our award-winning identity theft protection," said Todd Davis, CEO and Chairman of LifeLock. "Protecting employees from identity theft is essential to their financial security."
Technology has introduced an "information on-demand society" where sensitive information about millions of people can be easily accessed, distributed and sold within minutes. According to the 2012 Identity Fraud Report from Javelin Strategy & Research, there were 1.4 million additional new victims in 2011 over 2010. Often there is a delay between the time a consumer detects new account fraud and the time that stolen information is misused. According to the Javelin report, the delay can be as long as 151 to 165 days. While many of the hours an affected employee spends to resolve identity theft can occur during work, LifeLock's proactive protection and remediation can allow for continued efficiencies in the workplace.
"Voluntary benefits are becoming an increasingly important part of the overall employee benefits package as they enable employers to expand and diversify their offerings at the workplace," said Randy Clarkson, president TEB. "By offering LifeLock's identity theft protection services, we are able to provide our customers with access to a wide-array of insurance and non-insurance protection options."
Transamerica Employee Benefits will begin taking proposal requests today for the LifeLock service alongside its comprehensive suite of worksite insurance products.
Contact:
Cortney Lanik
Media Relations Manager
480-457-2032
Cortney.Lanik@lifelock.com
About LifeLock
LifeLock, Inc. is an industry leader in identity theft protection. Since 2005, LifeLock has been relentlessly protecting identities by providing consumers with the tools and confidence they need to help protect themselves from identity theft and manage their credit. The company has a strong focus on educating consumers and working with law enforcement and elected officials to better understand the increasing threats of identity theft. A multiple award-winning organization for two consecutive years, LifeLock has been recognized by Inc. magazine on their annual list of top 500 fastest growing privately held businesses in the United States and by the American Business Awards as having the 2011 Customer Service Team of the Year. In August 2011, Javelin Strategy & Research named LifeLock Command Center and LifeLock Credit Score Manager as "Best in Prevention" in their annual Identity Protection Vendor Report. As of March 2012, ID Analytics, Inc., a leader in enterprise identity risk management – with advanced science – that provides unprecedented visibility into identity risk and credit worthiness, is a wholly owned subsidiary of LifeLock, Inc.
The LifeLock logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=9430
About Transamerica
Transamerica companies have been helping people create better futures for over a century. The Employee Benefits marketing unit of Transamerica Life Insurance Company (Cedar Rapids, IA) and Transamerica Financial Life Insurance Company (Harrison, NY) designs and markets voluntary group life and supplemental health insurance products. For more information, please visit www.transamericaemployeebenefits.com.
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