Verisk’s FAST Ranks #1 Life Insurance and Retirement Platform in ISG’s Vendor Focus Report for Second Consecutive Year
JERSEY CITY, NJ, March 17, 2022 (GLOBE NEWSWIRE) — Verisk’s FAST technology platform for life insurers and annuity providers has received top rankings from Information Services Group Inc. (ISG) for the second consecutive year based on the strength and breadth of his offering.
In terms of competitive strength and portfolio attractiveness, FAST was ranked the best of the 20 life and retirement (L&R) platforms evaluated in the ISG Provider Lens™ Insurance Platform Solutionreport 2021. Citing its secondary data, analysis and research, ISG noted the ability to achieve predictable and successful results through the easily scalable FAST platform, backed by unique software and delivery and backed by the deep expertise of the FAST team.
FAST, which stands for Flexible Architecture, Simplified Technology, provides a scalable platform to help insurers drive end-to-end digital transformation, from product development and launch to customer self-service, policy administration and to complaints. The platform also connects insurers to an ecosystem of Verisk data, analytics, claims tools and modeling. These solutions can help insurers speed up the underwriting process from weeks to minutes and improve the customer experience.
“With its differentiated product offerings, demonstrated capabilities and proven successes, FAST stands out in the L&R platform space,” said ISG chief analyst Peggy Bresnick Kendler in the report.
“Technology leaders continue to affirm that FAST is a unique and powerful engine for the digital transformation of the life insurance, annuity and related industries,” said Tom Famularo, general manager of FAST at Verisk. “Our goal is to provide an optimal solution for insurers and third-party administrators to support open and closed blocks of activity on an efficient platform that allows users to move with speed and agility.”
To support life insurers throughout the policy lifecycle, Verisk has developed a suite of solutions that apply advanced analytics, automation and machine learning to existing and emerging data sources. The solutions are designed to help transform current workflows in life insurance underwriting, life and retirement analytics, claims intelligence, compliance and fraud detection, and actuarial and portfolio modelling.
To learn more about Verisk life insurance solutions, visit verisk.com/life.
Verisk VRSK provides predictive analytics and decision support solutions to clients in the insurance, energy and specialty markets, and financial services industries. More than 70% of FORTUNE 100 companies rely on industry-leading enterprise technologies to manage risk, make better decisions and improve operational efficiency. The Company’s analytical solutions address insurance underwriting and claims, fraud, regulatory compliance, natural resources, disasters, economic forecasting, geopolitical risk, as well as environmental, social and governance (ESG). Celebrating its 50th anniversary, the company continues to make the world a better, safer and stronger place, and fosters an inclusive and diverse society. culture or all team members feel like they belong. With more than 100 offices in nearly 35 countries, Verisk regularly achieves certification by Great place to work. For more: Verisk.com, LinkedIn, Twitter, Facebookand Youtube.
Contact: Michelle Pantina Verisk 551-500-7327 [email protected]