SOURCE: Atlantic American Corporation

January 18, 2012 08:48 ET

Atlantic American Announces Launch of Worksite Marketing Program for Businesses

ATLANTA, GA--(Marketwire - Jan 18, 2012) - Atlantic American Corporation (NASDAQ: AAME) today announced that its subsidiary, Bankers Fidelity Life Insurance Company, has launched a new worksite marketing program for businesses.

"This is virtually a turnkey solution for employers seeking to cope with rising expenses and regulatory mandates by giving employees options for their own supplemental benefits plans," said Hilton H. Howell, Jr., Chairman and Chief Executive Officer of Atlantic American. "We are excited about the early success of this program in test marketing during the past year."

The worksite program is being rolled out in several key markets in 2012, relying on Bankers Fidelity's proprietary software system and the in-house administrative capabilities of xCalibre Benefits, an Atlantic American subsidiary that provides third party administrator services for employee benefits programs.

"Our focus is on businesses with 500 or fewer employees in smaller communities which we have identified as a niche market for worksite marketing," said Eugene Choate, president of Bankers Fidelity. "Based on the strong positive response in our early marketing, we believe our worksite program is an attractive option for businesses in the current cost and regulatory environment."

In this program, Bankers Fidelity and its broker work closely with the business employer to create a package of available benefits that meet the mutual needs of the employer and employee. Employees are then offered the predetermined menu of voluntary benefits which are subsequently paid for via payroll deduction by the employer.

The worksite benefits program opens a new marketing opportunity that targets younger policy holders, spreads risk and offers non-insurance related products that create an additional revenue stream for Atlantic American.

Atlantic American is an insurance holding company involved through its subsidiary companies in specialty markets of the life, health, and property and casualty insurance industries. Its principal subsidiaries consist of American South Insurance Company, American Safety Insurance Company, and Bankers Fidelity Life Insurance Company.

Note regarding Private Securities Litigation Reform Act: Except for historical information contained herein, this press release may contain forward-looking statements that involve a number of risks and uncertainties. Actual results could differ materially from those indicated by such forward-looking statements due to a number of factors and risks detailed from time to time in statements and reports that Atlantic American Corporation files with the Securities and Exchange Commission.

Contact Information

  • For further information contact:
    John G. Sample, Jr.
    Senior Vice President and Chief Financial Officer
    Atlantic American Corporation
    404-266-5501

    Norman A. Cram
    Vice President, Chief Marketing Officer
    Bankers Fidelity Life Insurance Company
    404-266-5576