• 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 Careers

FAST is always on the lookout for top talent. If you enjoy solving complex problems and want to be part of building what analysts have described as "the next big thing," FAST might be the perfect fit for you.

View Careers »

FAST News

Entrepreneur of the Year 2014 Finalist Video for CEO Tom Famularo

FAST CEO Tom Famularo was named a finalist for Ernst & Young’s Entrepreneur Of The Year™ 2014 Award in the New Jersey region. As part of this prestigious program, a special video was produced showcasing Tom’s entrepreneurial spirit, success, innovative approach, and commitment to FAST. The video aired during the awards gala to announce the award recipients on June 26.

To view Tom’s finalist vignette video and catch a glimpse of Tom in action at our Edison office, please follow the link here: http://www.fasttechnology.com/videos/player/?vid=bZK8cRWD&src=videos%2F

National Life Group Licenses FAST as Strategic Platform

Solution will address PAS, new business, distribution management and group processing  

Edison, NJ – June 9, 2014.  FAST announced today that National Life Group® has licensed FAST Insurance Components to serve as the core of a significant legacy modernization initiative.  The solution will be implemented incrementally using an Agile-based methodology and will provide a broad spectrum of processing including new business, case management, policy administration, licensing, commissions, appointments and claims, as well as group processing.

“The FAST platform and implementation approach are allowing us to rapidly implement end-to-end processing in a highly collaborative way,” said Ruth Smith, executive vice president for protection at National Life Group.  “Our project team anticipates that the configurability and flexibility of the FAST platform, combined with its extensive out-of-box capabilities, will allow us to quickly get to a robust end-to-end platform.”

“I am genuinely excited about working with National Life Group and the fact that our software can enable this kind of ambitious initiative,” said Tom Famularo, Chief Executive Officer of FAST.  “I believe that when all is said and done, this project will be a model that the industry will follow.”

“The carriers that take advantage of platforms that are both feature-rich and configurable will have competitive advantage in the coming years,” said Tom Scales, research director, life and health at Celent.  “This is a trend that we expect will continue.”

About National Life Group

National Life Group® is a trade name of National Life Insurance Company, Montpelier, VT, Life Insurance Company of the Southwest (LSW), Addison, TX and their affiliates. Each company of National Life Group is solely responsible for its own financial condition and contractual obligations. LSW is not an authorized insurer in New York and does not conduct insurance business in New York.

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.  Visit:  www.fasttechnology.com

Contact:

John Gorman, COO

FAST

732.513.1400 (cell)

732.238.0005 (office)

EY Announces FAST CEO Tom Famularo as an EY Entrepreneur Of The Year™ 2014 Award Finalist in New Jersey

New Jersey, May 22 – EY today announced that CEO Tom Famularo of FAST is a finalist for the EY Entrepreneur Of The Year™ 2014 Award in the New Jersey region.  The awards program recognizes entrepreneurs who demonstrate excellence and extraordinary success in such areas as innovation, financial performance and personal commitment to their businesses and communities.  Tom was selected as a finalist by a panel of independent judges.  Award winners will be announced at a special gala event on Thursday, June 26th at the Hyatt Regency New Brunswick.

“With the ingenuity of our cutting edge technology and the support of a focused, seasoned team, being at the helm of FAST has been exhilarating. As FAST secures its place as the leading technology platform in the life and annuity space and continues to grow and form partnerships, I am certain the best is yet to come,” beamed Tom. “I’m honored to be recognized as a finalist for the EY Entrepreneur Of The Year 2014 award in my home state of New Jersey.”

FAST, which stands for “Flexible Architecture, Simplified Technology,” is a software provider focused on solving the challenges insurers and fraternal organizations face as they modernize their systems environments or replace legacy systems. FAST’s Insurance Components are offered individually or packaged for core functional areas, including Policy Administration, New Business and Underwriting, and Distribution Management.

Now in its 28th year, the program has expanded to recognize business leaders in more than 145 cities in more than 60 countries throughout the world.

Regional award winners are eligible for consideration for the EY Entrepreneur Of The Year National program.  Award winners in several national categories, as well as the EY Entrepreneur Of The Year National Overall Award winner, will be announced at the annual awards gala in Palm Springs, California, on November 15, 2014. The awards are the culminating event of the EY Strategic Growth Forum®, the nation’s most prestigious gathering of high-growth, market-leading companies.

Sponsors

Founded and produced by EY, the Entrepreneur Of The Year Awards are sponsored in the United States by the Ewing Marion Kauffman Foundation and SAP America.

In New Jersey sponsors include DLA Piper, Merrill Corporation, Morgan Lewis, PNC Bank, Willis of New Jersey, Empire Valuation Consultants, Scherzer International, SolomonEdwardsGroup, Cresa, Murray Devine, NJBIZ and NJTC.

About EY Entrepreneur Of The Year™

EY Entrepreneur Of The Year™ is the world’s most prestigious business award for entrepreneurs. The unique award makes a difference through the way it encourages entrepreneurial activity among those with potential and recognizes the contribution of people who inspire others with their vision, leadership and achievement. As the first and only truly global award of its kind, Entrepreneur Of The Year celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national and global awards programs in more than 145 cities in more than 60 countries.

About EY’s Strategic Growth Markets practice

EY’s Strategic Growth Markets (SGM) practices guide leading high-growth companies. Our multidisciplinary teams of elite professionals provide perspective and advice to help our clients accelerate market leadership. SGM delivers assurance, tax, transactions and advisory services to thousands of companies spanning all industries. EY is the undisputed leader in taking companies public, advising key government agencies on the issues impacting high-growth companies and convening the experts who shape the business climate. For more information, please visit us at ey.com/us/strategicgrowthmarkets, or follow news on Twitter @EY_Growth.

About EY

EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.

EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit ey.com.

Modern Woodmen of America Licenses FAST for Policy Administration

FAST solution at core of modernization initiative 

Edison, NJ – May 5, 2014 .  FAST announced today that Modern Woodmen of America has licensed FAST Insurance Components to serve as its policy administration and new business system for life insurance and annuities.  The solution, which will be implemented as part of a multi-phased initiative, will provide Modern Woodmen with a state-of-the-art technology platform that will enable the organization to continue to offer world class service to its members.

“Our team did a thorough analysis of the top policy administration systems in the market and concluded that FAST offered the best solution to serve the needs of our members,” said Denny Prior, National Secretary of Modern Woodmen.  “As important, we believe that FAST is the right partner for this important journey.”

“I am pleased that FAST will be able to help Modern Woodmen with this important initiative.  As a large fraternal financial services organization, Modern Woodmen has unique needs that go beyond what we see in more traditional life insurers,” said Tom Famularo, Chief Executive Officer of FAST.  “This is a wonderful opportunity for our team.”  

“Leading carriers are looking for solutions that are more configurable and flexible than ever,” said Chad Hersh, Managing Director with Novarica.  “Carriers with such systems have a competitive advantage that has potential to drive increased profitability going forward.”  

About Modern Woodmen

Founded in 1883, Modern Woodmen touches lives and secures futures. The fraternal financial services organization offers financial services and fraternal member benefits to individuals and families throughout the United States.

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.  Visit:  www.fasttechnology.com

Contact:

John Gorman, COO

FAST

732.513.1400 (cell)

732.238.0005 (office)

FAST Releases New Video on Architecture

FAST’s latest video spotlights our groundbreaking architecture.

By moving away from large, monolithic systems, FAST’s cutting-edge architecture provides insurance companies with the ultimate in business agility and adaptability. With its truly componentized services oriented architecture, event driven business processes, highly configurable solutions, and strong governance model, FAST allows insurers to transform IT into a resource that opens new doors for business, rather than adding unnecessary constraints. It does so by allowing companies to expedite speed to market and create innovative products while simplifying integration and business processes.

To catch a glimpse of what our architecture can do for your business, follow the link here: http://www.fasttechnology.com/videos/player/?vid=i9xx5eDR&src=videos%2F

This video is the latest in our series highlighting FAST’s innovative approach to insurance software, which can be viewed here: http://www.fasttechnology.com/videos/

FBL Financial Goes Live with Initial Phase of Implementation

FAST is pleased to announce that FBL Financial Group has gone live with the first phase of its implementation of FAST Insurance Components.  This initial phase included new business for annuities, as well as indexing and related workflow for new business and inforce policies.  Over 15,000 items were indexed in the first month of usage.

This initial implementation is part of a multi-phase project in which FBL plans to leverage the FAST solution to replace multiple core systems – including policy administration, underwriting and new business.

“FBL has been a great partner,” stated John Gorman, COO of FAST. “We are looking forward to completing additional phases later this year.”

FAST Named Top Technology Platform

As a testament to FAST’s continued success, Celent, a leading research and advisory firm serving the financial services market, recently awarded FAST its prestigious Top Technology Platform award for 2013. Celent’s rigorous criteria included the modernity of the platform, deployment option flexibility, core adaptability and extendibility, and ease of change.  FAST was distinguished both for its advanced technology and the breadth of its functionality.

Celent 2

In its Policy Administration System Report, Celent’s accolades for FAST abound. It praises FAST’s componentized system which “allows an insurer to add functionality as needed and when budget allows.” It claims FAST’s product and rules configuration are “straight forward” and “allows for easy debugging within the system.” Importantly, it asserts that “FAST is a great example of how an insurer is no longer just buying software when they buy a policy administration system. They are buying a well pre-thought out design for how things should be done at an insurer. The software is configurable and can be customized, but there is an underlying model for how an insurer operates.”

It is no wonder FAST excelled in the review. For the past four years, FAST has provided insurance companies with the ultimate in business agility and adaptability. With its truly componentized services oriented architecture, event driven business processes, highly configurable solutions, and strong governance model, FAST allows insurers to transform IT into a resource that opens new doors for business, rather than adding unnecessary constraints. It does so by allowing companies to expedite speed to market and create innovative products while simplifying integration and business processes.

While the recognition is an impressive achievement itself, the context of FAST’s win makes it all the more notable. Thanks to its groundbreaking approach, Celent acknowledged FAST for the breadth of its functionality, where FAST outshined the vast majority of the competition – some of which have been in the industry for more than 40 years. In just four years, FAST has managed to develop its technology and functionality in less than half the time of its closest competitors, which have been in the industry for fifteen to twenty years. To be recognized by industry leaders in such a short period since its founding is a true success.

“I’m very proud of our xCelent Award, especially because we haven’t been in the market nearly as long as our closest competitors” beamed Tom Famularo, CEO. “FAST is committed to building software for insurer’s needs today with the flexibility they need for years to come.”

FAST’s Planning and Strategy Day Brings Hockey Legend Jim Craig to Edison, New Jersey

jim-craig-hockey As the keynote speaker for FAST’s Planning and Strategy Day on December 12, 2013, Olympic gold medalist Jim Craig provided inspiration and winning guidance to FAST’s employees and clients.

As the goalkeeper for the 1980 U.S. Olympic Hockey Team, Jim helped lead his team to victory against the supposedly unbeatable Soviet Union in one of the most spectacular upsets in sports history, now called the “Miracle on Ice.” Jim and his teammates overcame the odds to win Olympic gold at a difficult time in U.S.–Soviet relations. Jim drew parallels to FAST’s recent wins in the marketplace and amazing success in such a short period of time.

Drawing on his experience as an elite athlete and accomplished businessman, Jim revealed how commitment, preparation, purpose, and effort turned 20 college hockey players into Olympians. Jim inspired the audience by drawing comparisons between the USA hockey team’s successes and how a successful business like FAST operates.  In his book “Gold Medal Strategies” he describes the hard work, determination, teamwork, accountability, and how the importance of creating a legacy can lead to realizing any goal. Through his vivid storytelling Jim provided extraordinary insights on winning and left his audience with a call to action – make a difference and commit to FAST’s shared vision.jim-craig

“Talking with many of our customers and employees after the session, it was clear that everyone in the room had a shared vision for how in 30 years, people in this industry will be talking about how insurance software was delivered before FAST changed the industry” remarked Tom Famularo, CEO at FAST.

Without a doubt, Jim Craig inspired everyone at FAST to “go for the gold”.

Woman’s Life Insurance Society Goes Live with FAST for New Business and Underwriting

Configurability of FAST solution enables an implementation in less than five months

EDISON, NJ (PRWEB) November 21, 2013–FAST announced today that Woman’s Life Insurance Society® is in production with FAST Insurance Components.  For Woman’s Life, the solution includes application entry, case management, underwriting, premium quotes and issue calculations for the company’s life and annuity business.

Leveraging FAST’s Agile-based delivery methodology, the solution was implemented in less than five months by a team staffed by a core group of Woman’s Life and FAST personnel.  Between the two companies, the team size averaged less than four full-time equivalents for the project.

“FAST has enabled us to significantly improve our new business processing capabilities in a very short period of time,” said National President of Woman’s Life Chris Martin. “I’m extremely proud of the way the teams from Woman’s Life and FAST were able to collaborate to deliver something that is truly impressive.”

FAST Insurance Components is the industry’s first complete suite of more than 40 pre-built business process driven software components delivering targeted and end-to-end solutions. By leveraging FAST Insurance Components, carriers are able to cost effectively eliminate the redundancy in data and functionality in their enterprise. The solution allows carriers to achieve legacy modernization via a fully SOA-compliant alternative to conventional vendor systems.

“This implementation serves as a testament to the insurance processing capabilities, as well as the configurability of the FAST solution,” said John Gorman, chief operating officer of FAST. “However, you can’t implement something this complete this quickly without a customer who is fully committed to taking an Agile approach.”

Chad Hersh of Novarica added, “This is further evidence of the type of benefits that are obtainable with modern, flexible core systems.  When combined with an incremental and iterative delivery approach, insurers now have the option to see benefits much more quickly and with fewer resources at a lower cost.”

In addition to providing individual components, FAST provides fully integrated, pre-configured software applications for policy administration, new business and underwriting, distribution management, insurance portals and claims.

 

About Woman’s Life

Woman’s Life Insurance Society® is a not-for-profit membership organization. For more than 120 years, Woman’s Life has been offering quality financial products, including whole life, universal life, term life insurance, and flexible premium and single premium annuities designed to help women plan for a financially secure future for themselves and their families. Through the sale of financial products, Woman’s Life funds community projects held by members to benefit charitable organizations and individuals in need in the communities where members live. To learn more, visit www.womanslife.org, or call 1-800-521-9292.

 

About FAST

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

 

Contacts: 

Thor Harris

Percepture
Office: 800.707.9190 X 803
Cell: 201.206.0903

or

John Gorman, COO

FAST

Office: 732.238.0008

Cell: 732.513.1400

FAST Lands Top Insurance Technical Talent

It is clear that top industry professionals are now looking to FAST as their employer of choice.  In three years FAST has built a breakthrough technology framework and a talented team.  FAST recently recruited three industry-leading experts with a combined 60 years experience implementing technology solutions for 30+ insurance companies.  Peter Mathis, Keith Guard and Michael Murphy are recent examples of industry authorities making FAST their employer of choice.

A former Oracle and Accenture resource, Peter Mathis, shares his thoughts on joining the FAST team, “I joined FAST because of the

Peter Mathis (top left), Mike Murphy (bottom left), Kieth Guard (right)

dynamic environment, new and innovative software, creative leadership and dedicated staff.  FAST is an exciting place to work and provides great opportunities and tremendous job satisfaction.”

Mike Murphy, a prior Accenture and NaviSys employee, decided on FAST because, “no other company, large or small, offered so many opportunities for me to learn, grow and make significant contributions to our products and our customers.”  Mike was considered by many to be one of the top experts of infrastructure, cloud environments, and technical architecture in Accenture’s life insurance software group.

Keith Guard, prior roles with EXL, Accenture, LIPD, sums up with “For this next step in my career, I wanted to work with a focused, nimble organization that offered a variety of modern insurance software solutions.  It was also important to me to find a place where the leadership team had the experience, energy, and talent needed to aggressively and successfully grow the business.  I am confident I’ve found this rare combination here at FAST.”

“I am real excited to bring people in with this combination of industry experience and energy.  Our customers will really appreciate and benefit from additions like this.”, says Tom Famularo, CEO of FAST.

As FAST continues to grow, it will continue to recruit and attract top talent from within the industry.

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