• FAST has been at the forefront of implementing Services Oriented Architecture (SOA) in the insurance industry. Using FAST Insurance Components in concert with FAST 8x, we can help you create and integrate new business capabilities and technologies with your enterprise architecture.

    • Achieve early benefits through rapid delivery of components
    • Reduces risk by using prebuilt logic from FAST and by leveraging your existing software assets
    • Our ability to quickly configure and build new software; coupled with our prebuilt components reduces cost
    • Experience and expertise implementing policy administration systems
  • FAST Insurance Components allow carriers to achieve legacy modernization without the cost and risk of "big bang" projects. Our plug and play approach delivers targeted as well as full end-to-end solutions for core functional areas.

    • Include pre-built components and services
    • Orchestrations for business process management
    • Pre-configured business rules that can be integrated as full applications
    • Components can be wrapped around your legacy system or can be used to overhaul the system piece by piece
  • FAST 8x is a software development framework that automates the development process and dramatically reduces the time required to build software.

    • Creates innovative and cutting edge software
    • Drives greater efficiency, at a fraction of the cost
    • Individual components can be deployed as standalone applications
    • Innovation is the key to success - our solution provides you with the business tools you need to succeed
  • With FAST, you can get the best of both worlds: best Policy Administration solution on the market – with more than 80 business processes from new business to claims; in a fraction of the time, cost, and risk.

    • Feature rich functionality and the best technology
    • Create innovative products and services
    • A system designed around business processes
    • A fresh approach for insurance companies looking to replace legacy systems, create new functionality or revitalize existing applications
  • We think it is fun to solve hard problems. Our entrepreneurial culture is comprised of a resourceful team, creative of people who have a vested interest in our clients' success.

    • Best architecture and technology on the market
    • Ultimate in configurability
    • Business process driven solution business partners love
    • Highly maintainable technology that provides "legacy avoidance"
    • FAST is "easy to do business with"
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FAST News

FAST and Insurance Technologies Partner for Industry Advancement

Two industry leaders integrate software to dramatically change the way insurance is sold and managed.

FAST, a leading provider of componentized software for the life and annuity industry, and Insurance Technologies, a prominent provider of sales automation software for the financial services industry, announced today a strategic partnership between the two organizations. The partnership brings integration between FAST’s componentized life insurance platform and Insurance Technologies’ SaaS electronic application solution, FireLight®.

The initial phase of this comprehensive integration project enables a straight-through sales process between an insurance carrier and their distributors via a real-time two-way data communication channel that will reduce data entry, improve NIGO rates, and above all help increase e-App user adoption.

The integration between the two platforms offers a real-time forms and data auto-fill solution that leverages pre-existing client data in the carrier’s policy administration system. Through this new process, producers will enter small bits of information about the client into FireLight, which will dynamically validate the data against the carrier’s existing client database. If a client match is found in the administration system, the information the carrier has stored on the contact will automatically prefill the e-App, thereby decreasing data entry and expediting the data capture process. Producers will have the capability to change any pre-filled field as needed. Defined rules within FAST’s Insurance Components will automatically accept new data captured in FireLight and match up client records in order to maintain client centricity in FAST.

David Fenimore, CEO of Insurance Technologies said, “Producers have been asking for ways to streamline and expedite the e-App process for years. The ability to have their client’s application prepopulate with pertinent information directly from the carrier is a huge step forward. The integration with FAST provides real-time access to quality data that has not been available in this fashion before, and we are excited about the possibilities this offers the industry.”

“Insurance Technologies offers the perfect path with FireLight for integration with the FAST set of componentized insurance solutions. Their e-App platform offers a simple to use interface and has garnered great adoption throughout our industry,” commented Tom Famularo, CEO of FAST. “We are now just scratching the surface of opportunities to help provide a better experience for both the producer and consumer with this partnership.”

Later phases of system integration are scheduled to include policyholder service capabilities with the same pre-filled forms options, an ability to share product definitions and rules, and integration with Insurance Technologies’ ForeSight® illustration platform.

 

About FAST
FAST, which stands for “Flexible Architecture, Simplified Technology”, is a privately-held company located in Edison, NJ founded by the former leaders of NaviSys. FAST focuses on solving the challenges our financial services and insurance clients face as they seek to modernize their system’s environments or completely replace legacy systems. Visit:  www.fasttechnology.com

About Insurance Technologies
Based in Colorado Springs, Insurance Technologies provides innovative sales and regulatory automation solutions to the insurance and financial services industries. Our product suite supplies carriers and distribution partners with accurate tools to automate and accelerate the sales process, allowing more time to develop new sales opportunities. ForeSight® is a mobile point-of-sale illustration platform that supports all aspects of the insurance sales process for multiple lines of business across diverse distribution channels with customized user experience and content branding options. FireLight® is a device-agnostic, user-friendly, easy to deploy e-application business fulfillment platform that automates any existing sales process across all lines of business facilitating straight-through processing.
Visit: www.insurancetechnolgies.com

 

Media Contacts:

John Gorman,
Chief Operating Officer
FAST
732.225.0008
jgorman@fasttechnology.com

Kristin Wills
VP, Marketing
Insurance Technologies
719.442.6400
kwills@insurancetechnologies.com

 

 

 

CIOReview Names FAST a Top 20 Insurance Technology Solution Provider

CIOReview selects FAST as the only policy administration system provider in their list of “Top 20 Promising Technology Solutions Providers” for 2016  .

FAST, a leading provider of componentized software for the life and annuity industry, announced today that it has been recognized for being an industry leader by CIOReview, a prominent publication serving the financial services market, as part of their 2016 research proclaiming the “20 Most Promising Insurance Technology Solution Providers.”

CIOReview selected FAST based on the company’s specialties in insurance administration systems, insurance technology and insurance software.  Key factors in the decision process were FAST’s more than 45 different components that can be integrated as stand-alone functions or bundled for a complete solution, and its microservices approach to supporting a lower risk phased strategy to replacing legacy systems.

“I congratulate FAST on being recognized with the much coveted title and being a recipient of 20 Most Promising Insurance Technology Solution Providers 2016,” said Jeevan George, Managing Editor of CIOReview. “We are glad to showcase FAST this year due to its continuing excellence in delivering top-notch technology driven solutions.”

CIOReview highlights FAST’s unique component-driven ability that enables carriers to reform critical functions without disrupting existing business maintained in legacy environments. Whether an insurer’s modernization strategy is to augment existing systems with incremental enhancements or slowly phase out core legacy over time, FAST’s componentized solution provides a way to meet their goals.

“Being recognized by CIOReview as one its top 20 promising technology providers is an honor”, said Tom Famularo, CEO, FAST. “The fact that we were the only life & annuity policy administration vendor selected confirms to the industry that FAST is offering an innovative solution with real world value.”

To read the full CIO Review article recognizing FAST, please click here.

About FAST

FAST, which stands for “Flexible Architecture, Simplified Technology”, is a privately-held company located in Edison, NJ founded by the former leaders of NaviSys. FAST focuses on solving the challenges our financial services and insurance clients face as they seek to modernize their systems environments or completely replace legacy systems.

Media Contact:

John Gorman, COO
FAST
732.225.0008 (office)

Catholic United Financial Goes Live Using FAST’s Insurance Components on the Cloud

FAST, a leading provider of componentized software for the life and annuity industry, announced today that Catholic United Financial, a fraternal insurance organization located in St. Paul, MN, has recently gone live on FAST’s cloud-based insurance platform to provide state-of-the-art new business support for all life and annuity policies. Catholic United Financial is using FAST to replace legacy mainframe and other software as part of a process modernization effort. As part of the solution FAST will be managing the entire infrastructure on the cloud, further reducing cost and risk for the insurer.

The FAST platform will help Catholic United Financial support a fully electronic straight-through processing model that includes illustrations, electronic applications and signatures, underwriting, and electronic delivery for policies and other documents. Catholic United Financial believes that the robust point-of-sale solution will help modernize member services and streamline policy issue. The platform is also set to deliver policy administration efficiencies to the home office as part of a second phase which also will convert all of the organization’s existing policies, allowing them to turn off legacy mainframe systems.  FAST’s service oriented architecture provides an easy expansion path as Catholic United Financial grows, adds products, and integrates with other partners in the future.

Mike Ahles, Senior Vice President and Secretary/Treasurer at Catholic United Financial, said “The FAST solution aligns nicely with our business objectives, primarily being to grow our membership.  As a fraternal benefit society, we had to make sure we selected the right partner and I am excited about the prospects for our business as we work with FAST.”

“FAST offers exactly what the market is looking for: a componentized modern insurance software platform that is quick to stand up, easy to maintain and dramatically decreases the risk normally associated with such projects,” said John Gorman, COO of FAST. “Mike and his team have been true visionaries when it comes to running core systems on the cloud. We look forward to a long working relationship with Catholic United Financial.”

“The cloud-based SaaS model is the logical next step for insurers who are looking to focus on their core competencies rather than maintaining an expensive internal IT organization,” said Tom Scales, research director in the insurance practice at Celent. “I expect we will see many more carriers adopting an approach like this in the near future.”

About FAST

FAST, which stands for “Flexible Architecture, Simplified Technology”, is a privately-held company located in Edison, NJ founded by the former leaders of NaviSys. FAST focuses on solving the challenges our financial services and insurance clients face as they seek to modernize their systems environments or completely replace legacy systems.

About Catholic United Financial

Based in St. Paul, MN, Catholic United Financial is a life insurance and financial products company serving 84,000 Catholics in the Upper Midwest since 1878. As a not-for-profit, Catholic United transforms its profits into purpose, bringing together members, employees and volunteers to pursue their mission through local community grants, post-secondary education scholarships and more.

 

Media Contact:

John Gorman, COO
FAST
732.225.0008 (office)

 

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