The partnership between the two companies will be a multi-phased initiative. In the initial phase, Insurance Technologies will launch a Web services infrastructure as part of its VisibleChoiceâ¢ multi-carrier annuity sales platform, and will leverage Blue Frogâs Blue Sourceâ¢ platform for uploading, versioning and maintaining standards-based annuity product profile information.
The Blue Sourceâ¢ infrastructure includes a sophisticated process for the creation and maintenance of accurate product data and supports standardized ACORD Product Profile for Annuity (PPfA) data. Blue Sourceâ¢ provides an ever-increasing library of specific business rules for a variety of different business uses, version control and full PPfA source control, including development, pilot and production environments.
The next phase of the new Blue FrogâInsurance Technologies partnership will encompass the preintegration of new business information into AFFIRM from VisibleChoiceâ¢. The two solution providers are also leveraging standard XML ACORD and Web services for business reasons such as speed to market and cost effectiveness for Broker-Dealers.
Insurance Technologies is committed to providing open and flexible order fulfillment solutions to the Broker-Dealer community through its multi-carrier annuity sales platform, VisibleChoiceâ¢. As part of that commitment, Insurance Technologies has selected Blue Frog Solutions as their first automated order management partner.
âWe see great synergies between Blue Frog and Insurance Technologies,â says Dan Smith, Blue Frog CEO. âThis powerful partnership will ensure that our common insurance distribution and broker-dealer customers will have an optimal solution with the most timely and accurate annuity product profile information.â
Says Steve Horneman, Vice President, Marketing, for Insurance Technologies, âWe selected Blue Frog Solutions as our first go-to-market partner in adapting to a model of flexibility in how Financial Advisors place new business orders.â
The partnership enables Insurance Technologies to bring solutions to market that consume standard data, enabled through data services interfaces pre-integrated with Blue Frogâs leading solutions for Broker- Dealers.
âInsurance Technologies acknowledges that flexibility in annuity business order fulfillment is necessary to service the Broker-Dealers and Wirehouses,â says Horneman. âKnowing that some order entry takes place in an automated fashion and other processes continue to be manual, we are proud to acknowledge Blue Frog Solutions as part of our important network of go-to-market partners for fulfilling the promise of interoperability and pre-integration to facilitate straight-through processing.â