June 29, 2009
Colorado Springs, CO
COLORADO SPRINGS, CO (June 29, 2009) – Insurance Technologies has received a distinguished ACORD Accomplishment Early Adopter Award at the 2009 ACORD LOMA Insurance Systems Forum in Orlando, FL.
ACORD’s Recognition of Insurance Technologies for the ‘Early Adopter Award – Forms’ was principally based upon Insurance Technologies implementation of the ACORD 951 form within the VisibleChoice® environment. The VisibleChoice multi-carrier annuity sales platform employs a business process which works with ACORD’s standardized automated forms for the 1035 forms/”switch letter” and annuity application. The VisibleChoice solution-set has embedded ACORD Forms in the core processing to reduce expense and time to market for the solution/customers.
Insurance Technologies supports ACORD’s standardized forms for streamlined workflows in our VisibleChoice multi-carrier annuity sales platform. The end result is a reduction in redundant processing and improved efficiencies for the Carrrier and their trading partners. VisibleChoice provides improved compliance analysis coupled with on-demand illustrations, resulting in more rapid and suitable contract issuance for the selling organization.
“Being able to provide a solution which lowers cost through the utilization of this standardized form within VisibleChoice has been our focus at Insurance Technologies. We appreciate ACORD’s recognition of our implementation for the new standardized form” says David Fenimore, EVP, Engineering & CIO for Insurance Technologies.
“On behalf of ACORD, I congratulate Insurance Technologies on receiving the Early Adopter Forms Award this year. Insurance Technologies has long been recognized as a leader in their commitment to the implementation of ACORD standards.” said Lloyd Chumbley, AVP, Standards Technology.
About Insurance Technologies (http://www.insurancetechnologies.com)
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, Annuities, Critical Illness, DI, and LTC – all on a single mobile platform. Our latest innovation VisibleChoice® is a multi-carrier annuity sales platform designed to leverage multiple annuity products and features. Together, they improve point-of-sale effectiveness and help close more sales quickly.
About ACORD (www.acord.org)
Based in New York, ACORD (Association for Cooperative Operations Research and Development) is a global, nonprofit insurance association whose mission is to facilitate the development and use of standards for the insurance, reinsurance and related financial services industries. With offices in London as well, ACORD accomplishes its mission by remaining an objective, independent advocate for sharing information among diverse platforms. ACORD Standards and services improve efficiency and expand market reach.
Affiliated with ACORD are hundreds of insurance and reinsurance companies, and thousands of agents and brokers, related financial services organizations, solution providers, and industry organizations worldwide.