Insurance Technologies, LLC, a provider of sales and regulatory automation solutions for the insurance and financial services industries, announced today that Phoenix Life Insurance Company, a subsidiary of The Phoenix Companies, Inc., has selected FireLight®, an e-application business fulfillment solution. FireLight provides Phoenix with system flexibility, customized workflows and a phased deployment approach for its entire life and annuity product offering.
FireLight delivers Phoenix a user-friendly, electronic needs-analysis and e-application process that automates suitability review, and supports a drop ticket style sales approach. FireLight also includes built-in e-signature features that coincide with Phoenix’s mobile distribution strategies and creates a mobile straight-through-process for all lines of business from a device-agnostic platform for its distribution partners.
“We are excited to expand our existing relationship with Phoenix with the deployment of FireLight and to assist Phoenix in streamlining their annuity and life business and sales processes,” said David Fenimore, EVP & CIO, Insurance Technologies. “The automation of Phoenix’s electronic fulfillment process is expected to simplify the application process, increase speed to market and reduce operational and issuance expenses, thereby making it easier for its agents to process business with Phoenix Life.”
“With a variety of evolving annuity products available today, it is critical for advisors to effectively communicate with their clients to provide the right products that align with their unique needs,” said Mark Fitzgerald, National Sales Manager for Saybrus Partners, Phoenix’s distribution company.
Phoenix currently illustrates its annuity products through Insurance Technologies’ ForeSight™ point-of-sale illustration platform. With this integrated illustration to application process, Phoenix is providing its sales force with unheralded front office straight-through processing capabilities. Phoenix’s distribution partners will be able to easily illustrate and initiate in good order business submissions through a simplified and integrated illustration to e-application data flow process.