October 1, 2012
Colorado Springs, CO
COLORADO SPRINGS, CO, October 1, 2012 – Insurance Technologies, LLC, a provider of sales and regulatory automation solutions for the insurance and financial services industries, announced today that Phoenix Life Insurance Company, a subsidiary of The Phoenix Companies, Inc., has selected FireLight®, an e-application business fulfillment solution. FireLight provides Phoenix with system flexibility, customized workflows and a phased deployment approach for its entire life and annuity product offering.
FireLight delivers Phoenix a user-friendly, electronic needs-analysis and e-application process that automates suitability review, and supports a drop ticket style sales approach. FireLight also includes built-in e-signature features that coincide with Phoenix's mobile distribution strategies and creates a mobile straight-through-process for all lines of business from a device-agnostic platform for its distribution partners.
"We are excited to expand our existing relationship with Phoenix with the deployment of FireLight and to assist Phoenix in streamlining their annuity and life business and sales processes," said David Fenimore, EVP & CIO, Insurance Technologies. "The automation of Phoenix's electronic fulfillment process is expected to simplify the application process, increase speed to market and reduce operational and issuance expenses, thereby making it easier for its agents to process business with Phoenix Life."
"With a variety of evolving annuity products available today, it is critical for advisors to effectively communicate with their clients to provide the right products that align with their unique needs," said Mark Fitzgerald, National Sales Manager for Saybrus Partners, Phoenix's distribution company.
Phoenix currently illustrates its annuity products through Insurance Technologies' ForeSight™ point-of-sale illustration platform. With this integrated illustration to application process, Phoenix is providing its sales force with unheralded front office straight-through processing capabilities. Phoenix's distribution partners will be able to easily illustrate and initiate in good order business submissions through a simplified and integrated illustration to e-application data flow process.
About Insurance Technologies (www.insurancetechnologies.com)
Based in Colorado, Insurance Technologies provides innovative sales and regulatory automation solutions to the insurance and 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. FireLight® is a low cost, flexible and easy to deploy device-agnostic business fulfillment solution that automates any existing sales process across all lines of business.
About Phoenix (www.phoenixwm.com)
The Phoenix Companies, Inc. is a boutique life insurance and annuity company serving customers' retirement and protection needs through select independent distributors. Headquartered in Hartford, Connecticut, Phoenix has a history of keeping its promises since 1851. Phoenix Life Insurance Company is Phoenix's principal insurance subsidiary and Saybrus Partners is Phoenix's distribution subsidiary.