For Immediate Release
July 1, 2002
Contact: Keith Eliason 1-800-467-2666
INSCOMM SOFTWARE INC. Retains former ReliaStar Financial Corp. Executive Vice President
(Phoenix, AZ) Inscomm Software Inc. has retained Kenneth Kuk as its new Chairman, President's Advisory Council, effective July 1, 2002. Kuk will advise the rapidly growing company that is headquartered in Phoenix. Most of its technology and administrative operations are located near Minot, North Dakota.
Inscomm is a data management company that offers software and administrative support to investment professionals such as investment advisors, insurance agents, brokers and corporate clients such as broker/dealers, clearing houses, banks and insurance companies. The company's primary product is a contact manager and back-office portfolio manager that enables clients to maintain a continuously updated consolidated view of each of their customers' investment products including mutual funds, fixed and variable products and individual securities. Inscomm also is able to offer compliance reporting, current valuations, investment performance, marketing tools and other features that help their clients serve their customers better.
Mr. Kuk, 55, has a long history of business success. He has been the Executive Vice President of ReliaStar Financial Corp in charge of all Worksite businesses including Group Life, Health and Disability, 401K, and several other businesses that offered financial and insurance products at the worksite. Other experience at ReliaStar included Investment Products, Strategic Marketing, Investment Advisory and several operating business units during his 16 year career there. ReliaStar was a Fortune 500 company that was recently acquired by ING Group, an Amsterdam-based global leader in financial services. Kuk's prior experience includes key positions with ITT Financial Corp. and General Electric Capital Corp. He has served on various boards and has several professional designations. His education includes a Masters degree in business administration.
"The ability to attract someone with Ken's background and credentials is a strong statement of the potential of this company," said Keith Eliason, one of the founders. "We knew we needed an advisor who understands the financial and software markets. To get someone like Ken who has experience running both large and small companies is a real bonus."
"I have spent a lot of time studying the market to determine how Inscomm stacks up. My conclusion is that Inscomm offers a wonderful product at a fair price to a growing market," said Kuk. "Inscomm obviously listened to the market and developed capabilities that the investment community needs. They seem to have gotten the product right with a substantial client base before attempting to mass market it. It's time for more people to learn about Inscomm."