Andesa Services, Inc. announced today that it has entered into a multi-year contract with Equias Alliance, LLC for the use of ADASTAR® Q+ to administer its non-qualified benefit plans and for the conversion of its existing plans to the system.
This innovative system can be used by brokers, plan sponsors and carriers to administer a wide variety of non-qualified plans and associated life insurance programs such as Split Dollar, Supplemental Life Insurance, Supplemental Executive Retirement, Salary Continuation, Death Benefit Only, Bank Owned Life Insurance and Deferred Compensation plans. Q+ is a scalable, real time, internet based suite of services and supports a fully distributed service model. In addition, the system is integrated with Andesa’s robust ADASTAR® illustration, AFAS policy administration and reporting platforms.
According to David Shoemaker, President of Equias Alliance, “After considerable research and due diligence, we chose ADASTAR Q+ due to its comprehensive functionality and the depth and quality of the Andesa organization. We recently received the exclusive endorsement of the American Bankers Association for bank-owned life insurance (BOLI) and executive and director benefit services. This exclusive endorsement is awarded through its subsidiary, the Corporation for American Banking (CAB). Our partnership with Andesa allowed us to present an advanced technology platform as part of our case to the ABA.”
Ron Scheese, President and CEO of Andesa says, “We are excited to have Equias Alliance, one of the premier BOLI and benefits consulting firms in the country, as our client. The conversion of Equias’ block of business is progressing rapidly with the use of Andesa’s flexible, automated conversion process. Equias’ ongoing interaction with our team has made the system even more effective in serving the needs of the non-qualified benefits market.”
Equias Alliance delivers nonqualified benefit and BOLI portfolio services to banks across the United States. With some of the most experienced consultants in the industry, it has 11 regional offices and has helped nearly 800 banking organizations recruit, retain, and reward executives, directors and employees critical to each bank’s success.