EDISON, N.J.--(BUSINESS WIRE)--FAST announced today that Vantis Life Insurance Company has licensed the company’s business process driven software suite, FAST Insurance Components, to support commissions processing for its life and annuity business. The solution will include the following commissions-related capabilities: schedule management, calculation, reporting and accounting.
“I’m really proud that Vantis Life has selected FAST for this mission-critical application”
“Vantis Life is always looking for cost effective ways to improve service to our agents by leveraging best of breed technology,” said Executive Vice President and Chief Operating Officer of Vantis Life Scott Smith. “FAST’s componentized approach is going to allow us to make those improvements incrementally.”
FAST Insurance Components is the industry’s first complete suite of more than 40 pre-built business process driven software components delivering targeted and end-to-end solutions. By leveraging FAST Insurance Components, carriers are able to cost effectively eliminate the redundancy in data and functionality in their enterprises. The solution allows carriers to achieve legacy modernization via a fully SOA-compliant alternative to conventional vendor systems.
“I’m really proud that Vantis Life has selected FAST for this mission-critical application,” said Tom Famularo, chief executive officer of FAST. “Several of the folks on our team have known the Vantis Life people since our days at NaviSys. It’s particularly gratifying to see multiple former customers choosing to do business with us at FAST.”
Deb Smallwood, founder of Strategy Meets Action added, “Most insurers are facing challenges in the distribution management space, with each insurer having its own unique business and technology needs. I am pleased that Vantis Life is able to leverage FAST’s components to align to their specific needs and position for advantage.”
In addition to providing individual components, FAST provides fully integrated, pre-configured software applications for policy administration, new business and underwriting, distribution management, insurance portals and claims.
About Vantis Life
Vantis Life Insurance Company was established in 1942. From its inception, the company’s primary goal has been to provide families with affordable life insurance and annuity products available through their financial institution. With nearly $5 billion of life insurance in force, $900 million of assets and a rating of A-Excellent from A.M. Best, Vantis Life prides itself on providing A Better Life Experience for financial institutions and their customers. Sales and marketing information is available at 1-866-826-8471 or www.vantislife.com/able.
FAST, which stands for “Flexible Architecture, Simplified Technology” is an Edison, New Jersey-based Services Oriented Architecture (SOA) solutions provider for life/health and P&C insurers and distributors. Focusing on solving challenges that financial services clients face as they seek to modernize or replace legacy systems environments, FAST helps reduce risk and cost by providing the industry's first complete SOA-compliant suite of pre-configured web business process-driven software components: FAST Insurance Components. Visit: www.fasttechnology.com.