Vertex, a provider of professional services and software to the insurance and financial services industries, has launched Term and Permanent Life product platform and has partnered with Blue Frog Solutions, a provider of Life & Annuity Order Entry System, as the first consumer of their electronic transmissions.
According to Vertex, its VTXml product suite is an ASP model built on a .NET framework that combines the support of multiple product lines within one access point to produce various product transmittals for electronic publication. The insurance carrier is able to share company level product information across product lines such as investment vehicles and isolate product line specific information when applicable, such as life coverages versus annuity riders.
The company said that the partnership benefits insurance carriers who are interested in increasing their life and annuity sales distribution and who utilize automation strategies to reduce costs in the process. Blue Frog’s Affirm for Life point-of-sale platform provides a user interface that insurance manufacturers provide via the VTXml product suite to ensure accuracy during the application and forms generation process.
Steve Wilson, president and CEO of Vertex, said: We value our industry technology partnerships with companies including Blue Frog and we are fortunate we can depend on them when developing solutions that benefit our mutual clients. Our new Life product functionality illustrates that synergy.
Dan Smith, CEO of Blue Frog Solutions, said: We see Vertex as a key partner in bringing every insurance company into our Affirm for Life solution. Blue Frog and Vertex have worked closely together over the years to simplify selling insurance.”