SOUTH PORTLAND, Maine, Nov. 07, 2017 (GLOBE NEWSWIRE) — Mark P. Marsters, a benefits insurance executive with more than 30 years industry leadership, has been named President and CEO of Custom Disability Solutions. Based in Maine, Custom Disability Solutions (CDS) specializes in Group Disability Reinsurance Services, and is a division of Reliance Standard Life Insurance Company.
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The announcement was made by Reliance Standard President, Chris Fazzini, to whom Marsters will report.
Founded in 1969, Custom Disability Solutions rebranded in April, 2006 when Reliance Standard purchased the assets of what was then Integrated DisAbility Resources, Inc. Since then CDS has grown in size and sophistication, delivering superior reinsurance, underwriting and claims service solutions through specialty insurance partners to employers of all sizes.
Mark Marsters has spent a long and distinguished career in the employee benefits space, most recently as Senior Vice President of Operations at Cigna Group Insurance. In that role he was responsible for oversight and strategic performance of Cigna’s US Group and Voluntary Insurance division, comprising group disability, life, accident, limited medical and specialty lines, and leave administration services.
“CDS occupies an important market niche in the group ancillary benefits space, and arguably is the premier specialty provider in that space,” Fazzini commented. “I am excited to bring Mark’s proven experience and leadership to an important and dynamic organization.”
Throughout his career Marsters has excelled in delivering superior financial and operational results through strong leadership, technology and a commitment to service excellence. While at Cigna he oversaw an organization of more than 2,500 employees, driving noteworthy growth, service and quality metrics for 10 consecutive years.
Prior to Cigna, Marsters began his career with Union Mutual (now Unum) in Portland, serving escalating management roles in disability claims operations, contracts and underwriting.
Marsters earned his Bachelor of Science in Management from the University of Maine and completed graduate professional work at the Wharton School of Business of the University of Pennsylvania and Penn State. He is a Registered Health Underwriter (RHU) and has earned designations from the Association of Life and Health Claims, and the Health Insurance Association of America.
Custom Disability Solutions is a division of Reliance Standard Life Insurance Company, a member of The Tokio Marine Group. Rated A+ (Superior) by A.M. Best, Reliance Standard Life Insurance Company (Reliance Standard) was founded in 1907 in Chicago, IL, as the Central Standard Life Insurance Company.
Innovative and flexible employee benefits solutions include disability income and group term life insurance, a suite of voluntary (employee paid) coverage options and fully integrated absence management in partnership with sister company Matrix Absence Management. Reliance Standard markets these solutions nationwide through independent brokers and agents to employers of all sizes.
Asset accumulation products enable preservation and risk-controlled growth of capital through a portfolio of traditional and indexed fixed annuities.
In New York, insurance products and services are provided by First Reliance Standard Life Insurance Company, Home Office New York, NY.
Reliance Standard is a member of the Tokio Marine Group. Tokio Marine Holdings, Inc., the ultimate holding company of the Tokio Marine Group, operates in the property and casualty insurance, reinsurance and life insurance sectors globally. The Group’s main operating subsidiary, Tokio Marine & Nichido Fire (TMNF), was founded in 1879 and is the oldest and leading property and casualty insurer in Japan.
Reliance Standard Life Insurance Company
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