Edison, NJ, May 22, 2010. FAST is announcing the release of version 2.0 of FAST Insurance Components – the insurance industry’s first complete suite of business process driven software components. FAST Insurance Components employ a Services Oriented Architecture (SOA) and provide insurance carriers with a fully SOA compliant alternative to conventional policy administration systems.

FAST Insurance Components allow carriers to achieve legacy modernization without the cost and risk of “big bang” projects and they are central to National Western Life’s legacy transformation project.

“With our Project Connex, we’re modernizing all of our core systems from new business to inforce processing through to claims,” said Michael Hydanus, Senior Vice President and Chief Administrative Officer of National Western Life. “FAST Insurance Components provide the full range of core processing needs in a highly componentized way.”

FAST Insurance Components are available under either JAVA or .Net and were developed using FAST 8x®, the breakthrough software development framework created by FAST. The FAST Insurance Components cover the full spectrum of life and annuity processing and can be deployed individually or as part of a broader application. Both Microsoft® BizTalk® and IBM® WebSphere® Process Server are supported for orchestration.

“Truly componentized, SOA-based systems are the way of the future,” added Tom Famularo, FAST’s Chief Executive Officer. “With FAST Insurance Components, our clients leverage the specific functionality needed for their business. On the one hand, carriers like National Western Life use almost all of our components to solve full legacy replacement challenges. On the other hand, we have clients who focus on one or two components to solve highly targeted needs.”

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