Through the new agreement announced by both companies, UTG, of Springfield, Illinois, and Fiserv will convert existing business to the ID3 software. The ID3 system is used to administer several million policies each day for Fiserv LIS clients. Fiserv is located in Brookfield, Wisconsin.
ID3 is currently used to administer an array of life, health, and annuity products. The ID3 technical architecture incorporates a relational data model and an integrated tool set that provides information access.
Fiserv currently serves approximately 13,000 financial service providers worldwide, including banks, broker/dealers, credit unions, financial planners/investment advisers, insurance companies, and agents, mortgage banks and savings institutions.