• 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 Technology Recognized in Gartner Magic Quadrant for Life Insurance Policy Administration Systems, North America

Earns highest placement for “completeness of vision” and “ability to execute” in the niche players quadrant

Iselin, NJ, August 22, 2017 – FAST Technology announced today that it has been included in the “Gartner Magic Quadrant for Life Insurance Policy Administration Systems, North America*” for the second year in a row.

In the report, Gartner evaluated policy administration system providers (PAS) for individual, voluntary worksite products, and group life and annuity products in North America using two criteria – “completeness of vision” and “ability to execute”.  FAST earned the highest placement for both criteria within the niche players quadrant.

“We believe our position in the Magic Quadrant is a validation of our continued investment in our digital strategy,” said Tom Famularo, CEO of FAST.  “Our architecture is designed to simplify integration and to enable a seamless end-to-end digital experience.”

To download a free copy of the report, please go to:  http://www.fasttechnology.com/about/press/Gartner/

For more information on how FAST can help your company, visit www.fasttechnology.com

Gartner, Inc. “Magic Quadrant for Life Insurance Policy Administration Systems, North America,” June 27, 2017.

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About FAST

FAST, Inc. (Flexible Architecture, Simplified Technology) is a privately-held company located in Iselin, NJ founded by the former leaders of NaviSys. Since the beginning, we have focused on building the company with the best people, including top talent from leading software vendors and consulting firms. To learn more, please visit www.fasttechnology.com

For More Information, Contact:
John Gorman
732-225-0008
jgorman@fasttechnology.com

AmeriLife Group Partners with FAST to Administer Annuities

Strategic annuity PAS implemented in less than eight months

 

Iselin, NJ – June 19, 2017.  FAST announced today that AmeriLife Group is in production with FAST Insurance Components to provide new business and policy administration support for AmeriLife’s proprietary annuity business.

The implementation project, which took  less than eight months using a team of seven people from FAST,   included conversion of an existing block of business, as well as integration to support  policy print, agency, commissions, reserves and accounting.  FAST was selected by AmeriLife as a strategic insurance administration platform and the project established a solid foundation for future capabilities in business process automation and rapid product introduction as well as enabled AmeriLife to shut down its prior annuity platform.

“We had very aggressive timelines to meet and I’m proud of the way the AmeriLife and FAST teams collaborated to accomplish this strategic initiative,” said Paul Carter, AmeriLife COO. “With this first project, we’ve proven FAST Insurance Components provide the business capabilities we were looking for and allowed us to establish a foundation for administration of proprietary insurance products in the future.”

“I’m proud that FAST and our customers are setting a new standard for core systems implementations in the life and annuity industry. It’s an exciting time to be in our industry,” said Tom Famularo, CEO of FAST.

About AmeriLife

AmeriLife is a national leader in developing, marketing and distributing annuity, life and health insurance solutions to protect the health and retirement needs of Middle America. Leveraging a national distribution network of over 100,000 insurance agents and brokers via nearly 20 marketing organizations, and 50 insurance agency locations, AmeriLife, and its more than 75 insurance carrier partners, offers value and quality to the insurance industry and its customers. Visit www.amerilife.com and follow @amerilife on Twitter and LinkedIn.

About FAST

FAST, which stands for “Flexible Architecture, Simplified Technology”, is a privately-held company located in Iselin, NJ. 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. Visit:  www.fasttechnology.com

Media Contact:
John Gorman, FAST COO
732.513.1400 (cell)
732.225.0008 (office)
Amie Hornbaker, AmeriLife
727.683.1150 (office)

FAST Enables Six Customers to Go Live with Core Systems in Less Than Ten Months

Iselin, NJ, June 5, 2017 FAST, a leader in insurance software systems, announced today that in a two-year period, six life and annuity companies went into production in less than 10 months with new core FAST systems, including new business and PAS.  These initial implementations included extensive system integration, involved carriers ranging from Tier One to Tier Three, and covered a broad range of life insurance and annuity products.  One of the implementations included a full PAS conversion and replacement.  On average, these implementations required eight resources from FAST.

The speed of implementation, which is believed to be unprecedented in the life and annuity industry, resulted from a number of critical success factors:

  • Industry’s strongest product development tools
  • Preconfigured full policy lifecycles and robust “out-of-the-box” processing
  • Configurable and extensible components
  • Ease of integration with pre-existing adapters plugging into the native SOA architecture
  • A proven implementation methodology that leverages agile principles

The business results achieved by the carriers covered a spectrum of capabilities, including:

  • Significant improvements in time-to-issue
  • Dramatic reduction in time-to-market
  • Modern direct-to-consumer product offerings
  • Streamlined new business and underwriting
  • Policy administration, claims and billing
  • Distribution management (license, commissions and appointment)
  • Sales illustrations

The life and annuity products addressed included:

  • Universal life (fixed and indexed)
  • Whole life
  • Term
  • Deferred annuities

“Prior to joining FAST, I had the opportunity to see other vendor systems directly,” said Derek Sharron, FAST’s Vice President of Account Management.  “FAST is doing something no one else in the industry is able to match.”

“When we started this company, our goal was to change the game by creating software and a methodology that would enable carriers to achieve results in a fraction of the time that I had seen up to that point,” said FAST’s CEO Tom Famularo. Tom had worked for NaviSys and Accenture prior to starting FAST.

“Now our customers are going into production in much less time than it takes our competitors to gather requirements.”

For more information on how FAST helped these life and annuity companies achieve these results, visit www.fasttechnology.com

 

About FAST

FAST, Inc. (Flexible Architecture, Simplified Technology) is a privately-held company located in Iselin, NJ founded by the former leaders of NaviSys. Since the beginning, we have focused on building the company with the best people, including top talent from leading software vendors and consulting firms. To learn more, please visit www.fasttechnology.com

For More Information, Contact: 

John Gorman
732-225-0008
jgorman@fasttechnology.com

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