March 24, 2010
Colorado Springs, CO
Colorado Springs, CO (March 24, 2010) -Insurance Technologies LLC, the premier provider of sales illustration and point-of-sale software for the insurance industry, announces the strong performance of its clients using ForeSight™ to illustrate and sell their VA products.
While Variable Annuity sales dropped 18% in 2009 over 2008, carriers using ForeSight to illustrate their VA products faired far better with a 1% gain in sales. The 2009 LIMRA U.S Individual Annuity Sales report shows that only 18% of the “Top 20” Variable Annuity Manufacturers not using ForeSight™ as their VA Sales Illustration System gained market share position in 2009. During the same period 82% of the “Top 20” using ForeSight™ gained market share position.
ForeSight is the insurance industry’s most widely used insurance sales illustration system. ForeSight clients include 20 Variable Annuity carriers. Twelve of these carriers are in the “Top 20” Variable Annuity Manufacturers and two of them rank at positions #1 and #2. ForeSight™ is also used by 3 of the top 10 Life insurance carriers, along with two dozen other companies.
“Insurance Technologies continued focus on delivering innovative and technologically advanced point-of-sale solutions while ensuring that our clients are poised for sales growth especially during economically challenging climates as the one we experienced in 2009 has had a tremendous impact on our stability and continued success as the premier provider of point-of-sale illustration solutions” says David Fenimore, EVP, Engineering & CIO for Insurance Technologies. “ForeSight 5.0 continues to demonstrate our commitment to simplify and aid in the education and selling of complex insurance products, provide customers with a one-stop platform for all line of business selling, and to be progressively built on a technology platform that would continue to easily integrate with other front and back-office systems to accelerate contract issuance.”
About Insurance Technologies (http://www.insurancetechnologies.com)
Based in Colorado Springs, Colorado, Insurance Technologies LLC offers point-of-sale illustration software to the insurance industry. Insurance Technologies award-winning product, ForeSight, supports all product types, including Life, Annuities, Critical Illness, DI, and LTC – all on a single mobile platform.