WINDSOR, Conn., Dec. 22, 2010 (GLOBE NEWSWIRE) -- SS&C Technologies (Nasdaq:SSNC), a global provider of financial services software and software-enabled services, today announced that Massachusetts-based Fallon Community Health Plan (FCHP) has selected SS&C to manage and provide back office functions for their insurance investment operations.
Fallon Community Health Plan is a non-for-profit health care services organization that offers affordable, comprehensive health insurance products and services for Massachusetts small and large businesses. SS&C's institutional Software-as-a-Service (SaaS) and Business Process Outsourcing (BPO) service, SS&C Direct, will help FCHP automate its insurance investment operations and, as part of the arrangement, will reprocess all of the FCHP's 2010 activity and file their annual Schedule D.
"In today's changing insurance investment operations landscape, we need to focus on transparency, governance, compliance and regulations," said Nick Thompson, Controller, FCHP. "SS&C distinguished themselves with their understanding of our business and their transition capabilities. By partnering with SS&C, we are confident that these critical accounting and reporting services will support the achievement of our goals."
"The growing requirements of regional health plans like FCHP necessitate automation, transparency and service quality," said Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies Holdings, Inc. "We are delighted that FCHP has turned to us to automate and service its investment operations lifecycle and benefit from our world class capabilities and technology platform."
About Fallon Community Health Plan
Founded in 1977, Fallon Community Health Plan is a nationally recognized, not-for-profit health care services organization. From traditional health insurance products available throughout Massachusetts for all populations, to innovative health care programs and services for independent seniors, FCHP supports the diverse and changing needs of all those it serves. FCHP has consistently ranked among the nation's top health plans, and is the only health plan in Massachusetts to have been awarded "Excellent" Accreditation by the National Committee for Quality Assurance for its HMO, Medicare Advantage and Medicaid products. For more information, visit fchp.org.
About SS&C Technologies Holdings, Inc.
SS&C is a leader in the delivery of investment and financial management software and related services focused exclusively on the global financial services industry. Founded in 1986, SS&C has its headquarters in Windsor, Connecticut and offices around the world. 5,000 financial services organizations, from the world's largest to local financial services organizations, manage and account for their investments using SS&C's products and services. These clients in the aggregate manage over $16 trillion in assets. Additional information about SS&C (Nasdaq:SSNC) is available at (www.ssctech.com).
Follow SS&C on Twitter at @ssctechnologies.