Universal Conversion Technologies and Thrivent Financial for Lutherans Complete Policy Administration Conversion

Annuity Conversion Involved $9.4 Billion in Funds

DALLAS, TX…Thrivent Financial for Lutherans and Universal Conversion Technologies (UCT) recently completed a major annuity conversion project. The project converted over 300,000 annuities from a legacy system to LIDP's Administrator with a conversion acceptance rate of 99.96%.

The final conversion, run over several weekends, generated over 4.3 million transactions and involved $9.4 billion in funds. Of 310,215 contracts, 310,092 converted automatically, generating the highly successful results. The remaining 123 contracts errored out and were manually corrected.

Thrivent's project to convert these blocks of annuities, including nearly 85,000 Fixed Annuities and over 225,000 Variable Annuities, faced challenges from time constraints and staffing allocations. UCT's experienced staff, proven methodology, and impressive track record of successful conversions, provided this effective solution. UCT's patented software, that allows the business experts to create rule-based data maps that generate the code to drive the conversion, help keep the focus on efficiency and accuracy.

"UCT's contribution certainly helped make the project a success," said Mike Braun, Vice President, MIS Division. "We could not have done as well without their support. They were a great partner. I look forward to doing business again in the future with them."

About UCT: Universal Conversion Technologies (http://www.uctcorp.com) was founded in 1992 by Dan O'Hara, and maintains company headquarters in Dallas, Texas. All product and service functions are managed through the Dallas office. UCT's customers include both U.S. and Canadian life insurance companies. More than 50 companies have used UCT's data conversion tools and methodology to implement conversions of millions of financial records involving billions of dollars of financial values.

About Thrivent Financial for Lutherans: Thrivent Financial for Lutherans, a Fortune 500 organization, is the nation's leading fraternal benefit society with nearly 3 million members. The organization and its affiliates have more than $58.6 billion in assets under management. The organization's members join together for insurance and financial products, as well as education and volunteer opportunities.

# # #

FOR MORE INFORMATION CONTACT: Jerry Kaul, UCT (214) 348-2000