June 8, 2011
Colorado Springs, CO
COLORADO SPRINGS, CO, June 8, 2011 – Insurance Technologies, LLC, a provider of sales automation solutions for the financial services industry, announced today Sagicor Life’s successful implementation of FireLight®, Insurance Technologies’ electronic fulfillment solution. After undertaking a systematic evaluation for an easy to deploy, flexible electronic application platform to create an end-to-end solution for their distribution partners, Sagicor Life selected Insurance Technologies as their vendor for electronic fulfillment.
FireLight provides straight-through-processing capabilities for all lines of business from a single platform. With FireLight in production, Sagicor Life’s distribution partners will be able to effortlessly submit new, complete, and in good order applications to Sagicor Life’s home office. With built-in business intelligence rules, FireLight will provide Sagicor Life the capability to add, create and manage forms for their whole life, UL and term life insurance products, using the FireLight forms repository, which is accessible by their domestic distribution channels. Once completed the application forms are electronically submitted to Sagicor Life’s back office system for issuance.
“The selection of Insurance Technologies’ FireLight product will enable us to provide our producers with a user-friendly, comprehensive forms repository and application management solution to ease and speed up the electronic application and issuance processes,” said Mike Stricker, Senior Vice President, Sagicor Life. “With FireLight fully integrated with ForeSight™, our illustration solution, any data collected at point-of-sale populates the application forms, increasing the speed at which our producers are able to successfully complete and submit applications by up to 65% in some cases. We expect our new automated electronic fulfillment process to reduce operational and issuance expenses for Sagicor Life’s products.”
“Insurance Technologies is very proud to provide to Sagicor Life, an existing ForeSight customer, a sophisticated technology platform that will allow their producers to effectively complete and submit suitable electronic applications into a streamlined sales process,” said Travis Champion, Vice President of Sales, Insurance Technologies. “We are pleased to continue to be part of Sagicor’s long term vision to create an electronically seamless sales process that will continue to expand their capabilities to offer and process a wide range of financial products.”
About Insurance Technologies (www.insurancetechnologies.com) Based in Colorado, Insurance Technologies provides innovative sales automation solutions to the financial services industry, supplying Carriers, Broker-Dealers, Bankers and Advisors the accurate sales tools allowing them more time to develop new sales opportunities. Our product suite manages the sales process across distribution channels thus providing Straight-Through Processing (STP) resulting in more in good order applications. ForeSight™ is a mobile point-of-sale platform that illustrates all business lines across diverse distribution channels. VisibleChoice® is a multi-carrier annuity sales solution that compares side-by-side product features and values thus reducing compliance risk and increasing suitability. FireLight® is an electronic fulfillment platform that provides a low cost, flexible and easy to deploy solution for all product lines resulting in world class electronic application processing. Insurance Technologies is known for our best of class products, advanced technology, dependable delivery and highly regarded customer service.
About Sagicor Life (www.sagicorlifeusa.com) Sagicor Life Insurance Company (Sagicor) is a full-service life insurance company that helps clients make wise financial decisions today to ensure they’re protected tomorrow. Licensed in 44 states plus the District of Columbia, Sagicor is rated “A-” (Excellent) by A.M. Best Company. It is a wholly owned subsidiary of Sagicor Financial Corporation, one of the oldest insurance groups in the Americas, with operations in 22 countries including the United States, Latin America and the Caribbean. Sagicor is committed to offering customers world-class service with integrity and value.