The focus of Release 4.1 was around additional options and patterns that can be configured to create an awesome experience for the end user of applications built using FAST 8x.  Our UX Engineers came together to figure out what features could enhance the experience for the end users of applications built with FAST 8x (including FAST Insurance Components) and concluded that having more information and functions available with less clicks was the theme.  The following features represent a small subset of what was done to achieve this goal:

• One-click-navigation to get back to the exact page you left off for your recent work (policy, transaction, person, etc.)
• Grids and lists with a summary level of information and ability to hide/show details in a single click
• Better organized information in sections, tabs, grids
• More personal preferences
• Ability to see consolidated views of similar information across multiple entities (e.g. policies, people, transactions, cases, requirements, etc.)
• Data encryption and masking options to support privacy and  regulations
• Better access and configuration for Wikis for collaboration and documentation of business processes

By adding these features as configuration options for FAST 8x, the component designers can be more efficient and iterate faster with their business partners.  In addition, this reduces the (already miniscule) amount of code that has to be written as an overlay – which helps with upgrades, maintenance, and allows for more flexibility within IT.

We will have some surprises for you with release 4.2 as we will be implementing some breakthrough ideas to make the user experience that much more awesome.

FAST is developing a state-of-the-art brokerage management system for a leading marketer of individual insurance products.  The new FAST system, designed as a full replacement for a series of industry point solutions, will leverage many of FAST’s existing Insurance Components as a starting point. These robust components deliver the needed functionality for producer management, new business and underwriting, and commission processing, while new components will be added to support campaign management, producer recruiting, sales/opportunity management, and a few other functions. The new system will seamlessly integrate with industry data providers, streamlining job functions and eliminating the inefficiencies common to today’s current systems.

FAST will spend one month building an initial starting point for all of these processes, and then will iterate with the marketer using the AGILE methodology to arrive at a feature-rich solution meeting the customer’s prioritized business needs. Initial design work has focused on the sales process – how to organize and manage campaigns and the sales leads/opportunities that arise from those – and how that process transitions into new business in a brokerage environment. Other features built in this first month will include:

• Ability for producers to access new business and commission data from their smart phones,
• Facility to set up and manage complex business processes and workflows in support of sales, recruiting, and new business,
• Reporting of comprehensive production metrics based on data access rules established at the user level,
• And the ability to organize and present the marketer’s content library.

Project work completed thus far exemplifies the level of reuse that is attainable when SOA standards are strictly followed. Using FAST 8x, the team has been able to configure several new components, modify a few existing FAST Insurance Components, and use others as-is to create a comprehensive starting point involving over 35 components integrated with a Web 2.0 rich user interface. At the end of one month the marketer will have a working, testable application that can be exercised using their business processes to define the next set of work that needs to get done. Stay tuned…

FAST was recognized as a finalist in the Emerging Business of the Year category during the 2011 NJBIZ Business of the Year awards dinner on December 5, 2011.  The Business of the Year awards program celebrates New Jersey’s most dynamic businesses and business leaders who share a commitment to professional excellence, business growth and the community. FAST was recognized for its innovative approach to software development, rapid growth in the marketplace, and an outstanding commitment to their employees and community.

Edison, NJ, November 17, 2011. FAST will be sponsoring an Insurance & Technology webcast, Leveraging the Latest Technology Advances To Modernize Core Systems, on November 30, 2011 at 1pm EST.  This one-hour free webcast will feature, Matthew Josefowicz, Partner and Managing Director of Novarica, Mike Hydanus, SVP and CAO of National Western Life, and Tom Famularo, CEO & Founder of FAST; as they share their insight on modern approaches to transforming legacy systems with more options and less risk.

In this webcast, attendees will learn how carriers can modernize core systems by leveraging and combining:

• Configurable systems
• Externalizing business rules
• Services Oriented Architecture (SOA) and Componentization

These approaches result in lower cost projects that achieve business results faster, while reducing long term cost of ownership.

For more information and to register for the webcast, please visit: https://www.techwebonlineevents.com/ars/eventregistration.do?mode=eventreg&F=1003811&K=CAA1CC

FAST has been featured in a blog written by Ben Moreland from Celent. The article explains how insurers are using antiquated methods to solve their current business problems.

Ben Moreland believes that it is time to rethink how insurers address IT issues. “[An] example can be seen through FAST’s approach to addressing IT gaps and core system modernization/replacement” says Moreland. “[FAST provides] a strong BPM/SOA approach to building services, implemented in Java or .NET, (vendor’s choice) to fill the business gaps and replace parts of the legacy system that are bottlenecks to meeting the business goals. The new solution is designed so it may be replaced itself (or parts) easily at any point in the future when better IT solutions come along…This should be a key principle of any enterprise strategy.”

For more information on the blog: http://insuranceblog.celent.com/2011/09/the-game-has-changed-why-haven%E2%80%99t-insurance-companies-adjusted//

FAST recently served as a sponsor for the Creative Disruption: A Core Systems Strategy Workshop on November 3, 2011 in Boston, MA. This high-energy workshop hosted by Celent was designed to help change the way IT and business strategists think about how insurance products are developed, implemented, and serviced. The workshop highlighted the availability of highly configurable and functional platforms that are becoming available. As a sponsor, FAST exhibited its automation engine, FAST 8x and its SOA-based Insurance Components. Both of these products offer a variety of delivery options for long-term core systems strategies.

FAST helps life carriers modernize core systems by providing software components and a breakthrough software development framework that allows companies to easily transition to a Services Oriented Architecture (SOA).

On Tuesday, October 18th, Mike Hydanus, SVP & CAO of National Western Life Insurance Company presented the CIO Case Study, “Project Connex”, at the CIO Insurance Summit. The CIO Insurance Summit brought together CIOs and IT executives to network and attend interactive agenda sessions The case study presentation outlined  National Western’s broad systems replacement project, including new business, policy administration, sales illustrations, Web portal, and license and commissions. In addition, Hydanus discussed the process for getting internal buy-in, his non-traditional approach to the project, as well as the challenges and successes that had occurred along the way.

NWL Connex is a comprehensive upgrade project of the Company’s information technology and administrative systems to prepare for their business future. It is comprised of five separate initiatives aimed at increasing sales growth opportunities, improve new business placement rates, improve customer service, enhance financial controls and compliance capabilities and improve productivity. Rather than purchasing an existing vendor package, National Western partnered with FAST to achieve a truly services oriented architecture.

FAST is a privately-held company founded by the former leaders of NaviSys. The Company’s team of passionate, experienced entrepreneurs focuses on solving the challenges clients face as they seek to modernize their systems environments or completely replace legacy systems. Over a two year period, FAST built functionality to replace every major system for life and annuity processing. The system is currently in testing and scheduled to go live in January 2012.  The result of their investment is a completely modern system. By investing in a services oriented architecture, NWL has added modular components to get the functionality they are looking for and created a system that integrates with other technologies.

FAST has been named a finalist in the Emerging Business of the Year category for the 2011 NJBIZ Business of the Year Awards Program. FAST is being recognized for its innovative approach to software development, rapid growth in the marketplace, and an outstanding commitment to their employees and community.

FAST CEO, Tom Famularo, feels that the flexible and efficient development approach offered by FAST enables companies to rapidly adapt to the marketplace. Mr. Famularo stated, “We have a team of seasoned professionals who focus on solving the challenges our financial services clients face as they seek to modernize their system environments. As a company that has been in business for less than two years, we are honored to be recognized as a finalist by NJBIZ for the Emerging Business of the Year Award.”

The Business of the Year Awards Program celebrates New Jersey’s most dynamic businesses and business leaders who share a commitment to professional excellence, business growth and the community. The award program, produced by NJBIZ, New Jersey’s premiere business news publication, is presented by EisnerAmper, LLP and sponsored by Sun National Bank, K&L Gates and CIGNA.

Last week, FAST sponsored the inaugural Hope for Tomorrow (HFT) Charity Golf Tournament on September 27 at the Royce Brook Golf Club in Hillsborough, NJ. More than 50 participants came out to enjoy a day of golf and support a great cause. Hope for Tomorrow (HFT) Charitable Trust was formed to raise funds for pediatric cancer research. The funds raised by HFT will be donated to the Alex’s Lemonade Stand Foundation (ALSF). ALSF is committed to finding a cure for all childhood cancers. To date, the charity has funded over 200 research projects at more than 50 institutions across the country.

The first place trophy for the Golf Tournament was awarded to Tom Fischer, Ron Louie and John Klotnia.  The second place winners were Renny Logan, Mark Roman, and Gerben Hooykaas. The winners of the men’s and women’s longest drive competitions were Mark Roman and Rebecca Iovino.  Ron Loui and Mark Uhrich each took home prizes for winning the “closest to the pin” contest.

“We are thrilled with the amount of money we raised for Alex’s Lemonade Stand.  The funds raised will go towards new ideas to help find cures for different pediatric cancers.  It will help provide hope to kids with cancer and their families.  By becoming the title sponsor, FAST has shown that they have a big heart.” – John Bertelsen from Hope For Tomorrow

Edison, NJ – September 23, 2011 – The CIO Insurance Summit yesterday announced the agenda details for the conference, highlighting the CIO Case Study “Project Connex” as a presentation on Tuesday, October 18th. The CIO Insurance Summit, which  will span from October 16-19, 2011, brings together a collection of the premier leaders and innovators in the insurance industry to collaborate, debate and participate in various interactive agenda sessions.

“Many of the CIOs and IT executives attending the CIO Insurance Summit have expressed an interest in replacing outdated systems at their organizations, which is now necessary to create competitive advantage. This case study is a great opportunity for them to learn how to approach such a large and possibly daunting project,” said Mark Southam, Event Director, CIO Insurance Summit.

For the full press release, visit:
www.cdmmedia.com/media/pdf/2011_09/2011_09_22_insurance_fast.pdf

To see the full event agenda, visit:
www.cioinsurancesummit.com/agenda