FAST announced that American Family Life Insurance Company has partnered, through its license of FAST Insurance Components, to support new business and policy administration for a new life insurance product.
"In assessing FAST and other life PAS offerings, we wanted the best combination of robust life insurance functionality and configurability. We selected FAST," said Jim Maastricht, associate vice president at American Family. "We also put a huge value on having a flexible technical architecture, which will be critical to our success."
"We’re very pleased that American Family has chosen the FAST PAS platform," said Tom Famularo, Chief Executive Officer of FAST. "Based on everything we’ve seen, American Family is very forward-thinking and I believe they will see great benefits with the platform."
"Increasingly, we see leading carriers investing in modern, configurable PAS platforms to enable innovation," said Tom Benton, principal in the insurance practice at Novarica. "The companies like American Family that make the investments now should have a leg up on their competition in the future."
Based in Madison, Wis., American Family Insurance offers auto insurance, homeowners insurance, life insurance, business and farm/ranch insurance in 19 states.