EDEN PRAIRIE, MN – January 5, 2015 – LTCG just announced that one of the most respected actuaries in the long term care insurance industry will be joining the organization as its chief actuary. Vince Bodnar comes to LTCG from Towers Watson, where he served as director of the firm’s strategic long term care efforts and initiatives. Vince will also be bringing his entire 10-person actuarial team to LTCG, which includes Ralph Donato, Matt Morton, Paul Colasanto and other consultants and analysts who have nearly 100 years of combined experience in the field. This transition will also include a new partnership agreement between LTCG and Towers Watson, in which LTCG will provide actuarial support for the consulting firm’s own long term care insurance clients.
Throughout his career, Vince has led successful projects related to in-force management, strategic planning, product design and pricing, and financial analysis, among other key initiatives. In fact, Bodnar has a stellar reputation as a leader in his field and a visionary with a strong grasp of market trends and opportunities. These collective strengths align ideally with LTCG’s strategic focus on helping carriers improve their financial and operational performance through end-to-end administrative solutions. This involves addressing all types of customer and policy requirements—from application processing and underwriting of new business to claims and administration of open and closed blocks.
“I’ve known Vince for many years and in all that time, I’ve never come across anyone with such a breadth of analytical and financial expertise in this industry,” said Peter Goldstein, CEO of LTCG. “With this incredible addition to our leadership team, LTCG will be able to offer our clients a much deeper analytical understanding of their business. We will also leverage the insight contributed by Vince and his staff to inform all of our existing administrative solutions and as a means to develop new data-driven clinical models.”
Bodnar’s background includes more than three decades of experience in life and health insurance products, with a concentration in long term care since 1990. He joined Towers Watson as part of its acquisition of DaVinci Consulting Group, which he co-founded in 2007. Over his career, he has also served as Principal with Milliman, Inc., Chief Actuary for one of Genworth’s strategic business units and Consulting Actuary for KPMG.
Bodnar has extensive experience in the area of life and long term care combination product development, an emerging and rapidly-growing market opportunity for LTCi. He is also well-versed in premium rate increase filings, long term care morbidity and mortality experience studies, actuarial appraisals of insurance companies and blocks of business as well as the development and implementation of first-principles long term care projection models.
“It is clear with the recent acquisition of the company by Stone Point Capital and the investments they are making in people, technology and infrastructure that LTCG really represents the future of this industry,” said Vince Bodnar. “I’m thrilled to be part of this new chapter while also having the opportunity to collaborate with such a well-established leadership team.”
LTCG is the leading provider of administrative solutions and clinical services to the long term care insurance industry, with nearly two decades of experience in this space. LTCG currently manages over 1.3 million policies and serves more than 50 carriers nationwide. The company addresses all types of customer needs and policy requirements—from application processing and underwriting of new business to claims and administration of open and closed blocks. LTCG’s advanced data analytics, actuarial and risk management capabilities and unmatched industry expertise can help organizations manage their business and develop emerging products such as hybrid life/long term care policies. In addition, LTCG provides clients with unique insight about risk management built upon the industry’s largest database of long term care underwriting and claims outcomes. For more information, visit www.LTCG.com.
Contact: Adam Hoffman