Blue Frog Solutions, a provider of life and annuity order management and compliance solutions for the insurance industry, and Broadridge Financial Solutions, a provider of technology-based outsourcing solutions to the financial services industry, have entered into a strategic alliance whereby Blue Frog will provide its life & annuity order entry compliance system to Broadridge.
Broadridge will implement Blue Frog’s Affirm for Annuities, a compliance and order management system designed to integrate a carrier’s complex product rules with a distributor’s compliance process to generate transactions that are in good order.
Approved annuity applications are then electronically submitted to carriers for processing after successfully passing all supervisory reviews required by the distributor.
Affirm for Annuities will be integrated with Broadridge’s Brokerage Processing Services (BPS), a solution that provides transaction processing across a range of asset classes.
Broadridge clients using both BPS and Affirm for Annuities are expected to benefit from higher levels of operational efficiency and a more seamless approach to annuity processing.
Susan Certoma, chief operating officer of brokerage processing services at Broadridge, said: Broadridge is pleased to be working in alliance with Blue Frog Solutions to further extend our coverage for annuity processing through a premier solution vendor.
Dan Smith, president and CEO of Blue Frog, said: We are looking forward to a long and mutually-beneficial relationship with Broadridge, as both firms share a dedicated focus on the financial services industry.