Page 193 - Group Insurance and Retirement Benefit IC 83 E- Book

IDP makes insurance software for property and casualty insurance carriers and agencies;

IDP also provides statistical (bureau) reporting services and project
planning consultation.

IDP was founded in 1949, by a group of five insurance companies and
a reinsurance brokerage firm. These six entities formed a cooperative accounting and

statistical unit; subsequent growth resulted in the formation of Mutual Tabulating
Services, Inc. in 1953.

Over the next ten years, with the increasing use of computers in business operations, the
company entered the field of computer-based data processing. In 1961, the name of the

corporation was changed to Insurance Data Processing, Incorporated.

In 1967, IDP was acquired by Marsh & McLennan, Inc. (Guy Carpenter & Co., Inc.), and

in 1985 it became a part of the Carlino Financial Group. In 1997, ownership evolved into
a Carlino/Gilbert partnership.

Today, Insurance Data Processing, Inc, is known as IDP, or IDP::Insurance Data
Processing, Inc. In addition to the corporate headquarters in Wyncote, PA, IDP also has

facilities located in Solon, Ohio.m

Software and Services

IDP‘s software is divided into two product platforms: IDP::Vision, a policy processing
application hosted by IDP (Software as a Service); and IDP::Software, a line of policy

administration applications that IDP sells separately or as a unit.

Review Question:

Q1. Write short notes on retirement schemes of India

Q2. Describe pension for dependent
Q3. Is there tax relief on contributions?

Q4. Define COBRA
Q5. Discuss the group Insurance