REGINA, SASKATCHEWAN and TORONTO, ONTARIO--(Marketwire - Dec. 8, 2012) - Co-operators Life Insurance Company and NexgenRx (TSX VENTURE:NXG) are pleased to announce that they have successfully renewed their agreement for a five-year term effective January 1, 2012. NexgenRx provides its state-of-the-art adjudication technology for Co-operators Life, including Pharmacy Benefit Management and Health and Dental Claims Adjudication Services.
"We are pleased with the relationship we have built with NexgenRx since 2007, and we look forward to building our brand and market share further with them. The systems they have built provide The Co-operators with rules-based adjudication services and full web-based capabilities for our plan sponsors and members" stated Conor Quinn, Vice-President, Group Benefits Insurance, Co-operators Life.
"The Co-operators is a strong partner, with a solid reputation as one of Canada's most respected insurers," commented NexgenRx President & CEO, Ron Loucks. "Combining our flexible, cost-competitive technology with the brand awareness and national distribution capabilities of Co-operators Life, we feel confident in our ability to exceed the expectations of plan sponsors in the group benefits market."
About Co-operators Life Insurance Company:
Co-operators Life Insurance Company is a wholly owned subsidiary of The Co-operators Group Limited, a leading Canadian-owned multi-product insurance company. Co-operators Life provides group life, disability, extended health and dental benefits for plan sponsors and their plan members across Canada, and has been an underwriter of group insurance plans for more than fifty-five years. Co-operators Life owns a majority of The CUMIS Group Limited, the leading provider of insurance-related products and services to credit unions, caisses populaires and their members in Canada.
About NexgenRx Inc.:
NexgenRx is Canada's leading independent health benefits plan administrator, providing proprietary on-line claims adjudication and web-based solutions to effectively manage benefits costs for plan sponsors and their members. More information on NexgenRx can be found at www.nexgenrx.com.