September 6, 2007
Colorado Springs, CO
COLORADO SPRINGS, CO (September 6, 2007) – Insurance Technologies LLC, the premier provider of insurance sales and marketing software for the financial services industry, announces that Foresters, a leading fraternal benefit society, selected Insurance Technologies’ ForeSight™ as their sales illustration platform. ForeSight will support all Foresters’ distribution channel partners in the U.S. with their sales of individual term, universal life, whole life, and deferred and immediate annuities.
“Foresters is acquiring the market-leading illustration system technology to support our strategy of attracting and retaining independent distributors and IMOs,” said Lauren Bradley, Foresters Vice President, Product Management & Marketing. “This is where ForeSight will be invaluable to Foresters. By customizing this illustration system to best position our unique products and services, we enhance our sales platform to help us deliver value added services to our distribution partners.”
ForeSight is ideally suited for Foresters, and will provide high value to their producers by clearly demonstrating the ability of Foresters’ products to meet a prospective member’s evolving needs. ForeSight also satisfies Foresters state and federal regulatory requirements and internal disclosure mandates. This is accomplished without compromising ForeSight value as a sales tool.
“On a single system, ForeSight will support all of Foresters business needs, from illustrations and in-force reprojections to electronic applications and straight-through-processing,” says Paul Skordilis, Execute Vice President, Worldwide Sales and Marketing at Insurance Technologies. “The key value is how our powerful ForeSight .NET framework and ACORD XML transaction standards will provide Foresters with automation and reduce their dependency on manual policy service and issue processes. This will improve their overall service levels while reducing their costs of doing business.”
“Foresters chose ForeSight to fulfill our need for a high performance, compliant, proven, and easy-to-use online illustration system that could support our users,” adds JS Ledoux, Foresters Director of Product Management & Marketing. “ForeSight is distribution technology in a single system solution that delivers all Foresters’ needs now and in the future. We expect it to be a great investment with a strong ROI over time.”
About Insurance Technologies
Based in Colorado Springs, Colorado, Insurance Technologies LLC offers point-of-sale illustration software to the insurance and financial services industries. Insurance Technologies award-winning product, ForeSight, supports all product types, including Life, Health, Annuities, Mutual funds, Critical Illness, DI, and LTC – all on a single mobile platform.
Founded in 1874, Foresters helps individuals and families achieve financial security with its innovative portfolio of life insurance products and annuities. Foresters has assets of more than $5.7 billion with liabilities of $4.5 billion resulting in a surplus of
$1.2 billion (all figures in Canadian dollars as of December 31, 2006) and an “A” (Excellent) rating by A.M. Best*. Foresters shares its financial strength with its members, who are customers, through complimentary life, health and education benefits that help its more than 745,000 eligible members and their families in the United States, Canada and the United Kingdom. Foresters provides opportunities that inspire its members to make a difference in their communities. Foresters Equity Services, Inc.** and Foresters Securities (Canada) Inc. are wholly owned subsidiaries of Foresters that offer investment products in the United States and Canada respectively. For more information, please visit www.foresters.com
Foresters ™ is a trademark of The Independent Order of Foresters, a fraternal benefit society, Toronto M3C 1T9.
*An “A” (Excellent) rating is assigned to companies that have a strong ability to meet their ongoing obligations to policyholders and have, on balance, excellent balance sheet strength, operating performance and business profile when compared to the standards established by A.M. Best Company. In assigning Foresters rating, A.M. Best stated that Foresters rating outlook is “stable”, which means it is unlikely to change in the near future, assuming Foresters financial strength is maintained and operations grow. A.M. Best assigns ratings from A++ to F, A++ being superior ratings and A and A- being excellent ratings.
**Investments offered through Foresters Equity Services, Inc., Member FINRA, SIPC, 6640 Lusk Blvd, Suite A-202, San Diego, CA 92121 T.858 550 4844, a wholly-owned subsidiary of The Independent Order of Foresters.