The implementation is the first step in a multi-phase legacy transformation program at Lincoln Heritage, which will also include FAST’s distribution management and policy administration
FAST, a Verisk business, has announced that Lincoln Heritage Life Insurance Company, a leading provider of whole life insurance, is in production with FAST’s electronic Application (eApp). The implementation is the first step in a multi-phase legacy transformation program at Lincoln Heritage, which will also include FAST’s distribution management and policy administration.
“While selecting a holistic insurance platform was important, we had an urgent need to provide a premium eApp capability to our valued agents,” said Matt Londen, senior vice president and CFO at Lincoln Heritage. “Successfully implementing a state-of-the-art eApp capability, including digital signature and pre-filling of data, allows our agents to spend time talking about customers’ needs instead of filling out a form. We’ve already started the next phase of our transformation program and feel ideally positioned to meet the needs of both our agents and customers while adding more digital capabilities.”
“Lincoln Heritage has embraced our platform and methodology to address a critical need,” said Tom Famularo, managing director and founder of FAST. “While their legacy transformation plans are ambitious, they’ve already started to realize significant benefits. We couldn’t be happier to have helped Lincoln Heritage achieve their goals.”
To support life insurers across the policy life cycle, Verisk has developed a suite of interconnected solutions that apply advanced analytics, automation, and machine learning to existing and emerging data sources. The solutions, seamlessly integrated with the FAST platform, are designed to transform current workflows in life insurance underwriting, life and pension analytics, claim insights, compliance and fraud detection, and actuarial and portfolio modeling.
Source: Company Press Release