ATLANTA--(BUSINESS WIRE)--Track-Life, LLC today announced that the company recently secured a contract to service a multi-billion dollar life insurance settlement portfolio. Company executives believe it is one of the largest life settlement servicing engagements in recent industry history. This engagement marks a significant milestone for the company as it manages an increasing number of distressed portfolios which include complex premium-financed policies.
“Our technology platform with online access to weekly mortality tracking, rate-of-return data and premium management tools gave us a significant advantage when pursuing this project,” said Track-Life President and COO Brian J. Barclay. “Real-time data and transparency continue to drive decision-making in tracking and servicing of life settlement portfolios.”
With roots in the life settlement industry that date back more than 20 years, Track-Life’s experienced team of financial and medical professionals manage all aspects of life settlement policy tracking and servicing. Track-Life, launched in 2008 by executives from The Lifeline Program, utilizes a proprietary software platform which provides the foundation for servicing thousands of policies and has handled hundreds of death claims.
The company has recently begun analyzing portfolios on behalf of hedge funds and investment groups, and company executives believe in-depth analysis of a portfolio’s asset quality and origination processes in advance of purchase can greatly assist investors in life settlement portfolios. As more portfolios with premium-financed policies hit the tertiary market, such analysis becomes even more critical.
“We continue to be sought out by banks and institutional investors that are taking ownership of these complex assets after loans default,” said Barclay. “Some institutions lack the expertise and resources to maximize the value of their portfolio. We are bringing in our resources to manage the process through policy maturity.”
Track-Life, LLC, based in Atlanta, offers a proprietary suite of services and software that enables portfolio managers to track, analyze and optimize life insurance policies held within a life insurance settlement portfolio. For more information, visit www.track-life.com or call 770-934-4390.