Lincoln Heritage Life Goes Live with FAST’s eApp as First Step of Transformation Program
October 14 2020 - 9:00AM
FAST, a Verisk (Nasdaq:VRSK) business, announced today 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.
To learn more about Verisk's life insurance solutions,
visit verisk.com/life.
About Lincoln Heritage Life Insurance
CompanyFounded by Jack Londen in 1963, Lincoln Heritage
Life Insurance Company is the leading provider of agent-produced
final expense life insurance in the U.S. with operations in 49
states. More than one million policyholders depend
on Lincoln Heritage Life Insurance Company to be by their
sides in their times of need, and thousands of agents take pride
knowing their hard work serves families in their
communities.
About FASTFAST, which stands
for “Flexible Architecture, Simplified Technology,” is a Verisk
(Nasdaq:VRSK) business and a leading provider of end-to-end
software for the life insurance and annuity markets. FAST, located
in Iselin, N.J., provides a SaaS suite of out-of-the-box components
that life insurers can use to quickly enhance or replace their
legacy systems. To learn more about FAST,
visit http://www.fasttechnology.com.
About Verisk Verisk
(Nasdaq:VRSK) is a leading data analytics provider serving
customers in insurance, energy and specialized markets, and
financial services. Using advanced technologies to collect and
analyze billions of records, Verisk draws on unique data assets and
deep domain expertise to provide first-to-market innovations that
are integrated into customer workflows. Verisk offers predictive
analytics and decision support solutions to customers in rating,
underwriting, claims, catastrophe and weather risk, global risk
analytics, natural resources intelligence, economic forecasting,
and many other fields. Around the world, Verisk helps customers
protect people, property, and financial assets.
Headquartered in Jersey City, N.J., Verisk
operates in more than 30 countries and is a member of Standard
& Poor’s S&P 500® Index and part of the Nasdaq 100 Index.
In 2018 and 2019, Forbes magazine named Verisk to its
World's Best Employers list. For more information, please visit
www.verisk.com.
Media Contact:
Joseph MaddenVerisk Public
Relations401-965-4284Joseph.Madden@verisk.com
Brett GarrisonEdelman (for FAST)917-639-4903
brett.garrison@edelman.com
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